Avoid threats to your independence
As an approved auditor, you are subject to the Auditors Act, including that you must be independent of your declaration client. If you are not, you risk being sanctioned by the Board of Auditors, typically in the form of a fine.
However, it can be difficult to identify a threat. This is due to the many changes that may occur over time in your customers' ownership and management. In addition, as an accountant, you may also have close and changing colleagues who can play a role. If your audit firm is part of an auditor network, this must also be taken into account. It can therefore quickly seem very unmanageable and not least be time-consuming.
With Bisbase Independence Check you avoid getting into that situation. With a few clicks you can do an independence check. It is both safe and fast, and requires minimal changes to your daily processes.
How it works
Bisbase Independence Check is very simple to use. Just search for a customer using name or CVR-number and click a button. The response comes promptly and will indicate whether there is a threat or not. In the event that a potential threat has been found, you will receive relevant and easy-to-understand information in the style of Auditor's superior Hans Hansen, who sits on the same board as the real owner of your statement client.
Tailored to your policies
There are many interpretations of the set of rules, and audit firms are also different from each other. Do you make your statement alone or do you do it together with some colleagues? Can the other auditors in your audit firm influence your declaration work? Is your audit company in an auditor network? Therefore, Bisbase Independence Check can be configured to reflect your policies. Add, for example, your cohabitants and other close relations as well as relevant colleagues.
Get control of the documentation
Each and every independence check is recorded and saved in your log. This means that you can see your past activities at any time, including the result of each independence check. The log is easily accessible and can be filtered, so that you always have documentation ready for e.g. internal quality assurance or an inspection.
Delegate and automate the task
Although it is quick to carry out an independence check, for some auditors it may be appropriate to delegate the task to one or more colleagues. In Bisbase, you can easily allow selected employees to carry out the independence check on your behalf. The log clearly states who performed the independence check.
There is also time to be saved if you already use Bisbase to obtain documentation for your declaration tasks (land register information, ownership, etc.), as you can include the result of an independence check in the same report.
Suitable for quality assurance
If your audit company has not used the Bisbase Independence Check before, we recommend that you start by getting a picture of any threats to your entire auditing business. You achieve this by the fact that we at Bisbase make a special data extraction, where we make an independence check for all accountants in relation to all their clients. That way, you get a picture of whether there is a problem and how big the scope is. You can subsequently choose to have corresponding data extracts made on a regular basis and in this way see whether the problems have disappeared over time and that your policies are thus being complied with.