Limited company (aktiebolag, AB)
An AB must have at least 1 auditor where the company fulfills more than 1 of the following conditions:
- The average number of employees during each of the 2 most recent financial years has exceeded 3.
- The company's reported balance sheet total for each of the 2 most recent financial years has exceeded SEK1.5 million.
- The company's reported net turnover for each of the 2 most recent financial years has exceeded SEK3 million.
Only an authorized public accountant or approved public accountant. Such person must be a resident of Sweden, the EEA or Switzerland. Furthermore, a registered accounting firm may serve as auditor.
Generally, corporate books, such as the minute book, should be kept with the company; however, the corporate books could also be kept with a third-party service provider upon instructions by the company.
The SCRO must appoint a minority shareholders' auditor if owners of at least one-tenth of all shares in a company make such an application. Such an audit is permitted in order to prevent fraud on the minority.
Trading partnership (handelsbolag, HB)
A HB must have an authorized or approved auditor if at least 1 of the partners is a legal entity. The auditor must be reported for registration with the SCRO.
If such an HB does not meet at least two of the following criteria during each of the two most recent financial years, it may choose not to have an auditor:
- more than 3 employees (as an average)
- a balance sheet total of more than SEK1.5 million or
- a net turnover of more than SEK3 million
In a HB with only natural persons as co-owners, an auditor is required if the HB is considered as a major HB.
Only an authorized public accountant or approved public accountant. Such person must be a resident of Sweden, the EEA or Switzerland. Furthermore, a registered accounting firm may serve as auditor.
Generally, corporate books, such as the minute book, should be kept with the HB; however, the corporate books could also be kept with a third-party service provider upon instructions by the HB.
Limited partnership (kommanditbolag, KB)
A KB must have an authorized or approved auditor if at least 1 of the partners is a legal entity. The auditor must be reported for registration with the SCRO.
However, if such a KB does not meet at least 2 of the following criteria during each of the 2 most recent financial years, it may choose not to have an auditor:
- More than 3 employees (as an average)
- A balance sheet total of more than SEK1.5 million or
- A net turnover of more than SEK3 million
In a KB with only natural persons as co-owners, an auditor is required if the KB is considered as a major KB.
Only an authorized public accountant or approved public accountant. Such person must be a resident of Sweden, the EEA or Switzerland. Furthermore, a registered accounting firm may serve as auditor.
Generally, corporate books, such as the minute book, should be kept with the KB; however, the corporate books could also be kept with a third-party service provider upon instructions by the KB.
Branch office (filial, Branch)
If a branch has met at least 2 of the following criteria in the last 2 financial years, it must appoint an auditor:
- More than 3 employees (as an average)
- A balance sheet total of more than SEK1.5 million or
- A net turnover of more than SEK3 million
If the operations of a branch are subject to special banking or financial regulation, an auditor must be appointed to examine annual accounts and the managing director's administration regardless of the criteria above. In such cases, the auditor must meet the qualifications as required by law, which apply to a Swedish company of the same description.
