The applicants are satisfied with auditor examinations
The 2022 examinations for auditors were held in August and September of the year. The number of applicants was slightly lower than in 2021 when participation was at record levels. In 2022, a total of 323 applicants took part in the auditor examinations and 131 examinations were approved.
According to a feedback survey, most of the applicants were fairly satisfied with the examinations. Satisfaction with the KHT examination was significantly higher than in 2021, while at the same time, the participants were slightly less satisfied with the HT examination than in the previous year.
Auditor examinations
Approved HT examinations
There was a decline in the number of approved HT examinations: In 2022, they totalled 73 compared to 115 in 2021.
Approved KHT examinations
The number of approved KHT examinations also decreased: In 2022, they totalled 49 compared to 68 in 2021.
Approved JHT examinations
The number of approved JHT examinations remained more or less at previous year’s levels: In 2022, they totalled nine compared to seven in 2021.
Quality of auditing
Personal discussions helped to familiarise auditors with the quality inspections
As in 2021, we conducted personal discussions with the auditors whose activities had been reviewed. 90 of the auditors involved was provided with an opportunity to discuss the quality inspection decision.
The purpose of the voluntary discussions was to familiarise the auditors with the inspection observations and quality control decisions.
According to a feedback survey, the auditors found the discussions useful and felt that they clarify the observations. The auditors would like to see more discussions and other contacts and suggested that they should be partially incorporated in the quality inspection process.
Authorisations of auditors and audit firms
The number of authorisations increased from the previous year: In 2022, they totalled 119 compared to 95 in 2021.
Cancellations of authorisations of auditors and audit firms
The number of cancellations remained at previous year’s levels: In 2022, they totalled 125 compared to 123 in 2021.
Quality inspection decisions pertaining to auditors and audit firms
The number of quality inspection decisions decreased: In 2022, there were 149 decisions compared to 180 in 2021.
Decisions by Auditor Oversight
There was a slight decrease in the number of Auditor Oversight decisions: In 2022, they totalled 35 compared to 53 in 2021.
Decisions by Audit Board in investigation matters
The number of Audit Board decisions remained more or less unchanged: In 2022, the Audit Board issued a total of 31 decisions compared to 27 in 2021.
Information briefings on financial audits
PRH’s Auditor Oversight held information briefings on a variety of different topics in Teams during 2022. The briefings are intended for auditors and other parties interested in auditor oversight.
Quality inspections, decisions of the Audit Board and good auditing practice were some of the topics discussed at the briefings during 2022.
New guidelines on sanctions against Russia
We published guidelines for auditors on the sanctions against Russia imposed by the EU as a result of the war in Ukraine.
The sanctions relevant to auditing concern economic activities (restrictions and prohibitions concerning the freezing and transfer of assets).