Íslenskir endurskoðendur ehf (translated Icelandic Auditors) is a 12 partner audit firm network, founded in January 2011. Each partner brings many years of experience in running their own audit and accounting firms and has a wealth of experience and knowledge on a wide range of issues and industry sectors.
With headquarters in Reykjavik and operations throughout the country, we have come together to assist clients across the whole of Iceland to meet their audit, accounting, tax and business advisory needs.
International Standards on auditing (ISAs) became a requirement for statutory audits in Iceland recently and changed the environment for independent auditors, small audit firms and their clients. This became the driving force for the foundation of our firm and we now have a quality control system and audit program that fully complies with ISAs. It also created an opportunity to become a major player in the market for audit and accounting in Iceland, since the firm is the 5th biggest in Iceland, after the big 4, if measured in number of Public Accountants.
Our focus is on providing our client with a value added service. In our mind, a statutory audit has two main goals, to perform an audit in compliance with standards and law and also to provide the client with comments and suggestions for improvements in their processes and corporate governance. This applies to all of our services across the board - adding value to your business is our primary goal. We also stress outstanding professionalism in our work, integrity and open and frequent communication.
Islenskir endurskodendur ehf provides audit services, reviews, accounting, assistance in preparing statutory accounts, financial statements, tax advisory and other related services. Also, Islenskir endurskodendur ehf is an ideal business partner for setting up a business in Iceland, with resources in tax and corporate law. Our clients are mostly small and medium sized corporations.
The auditors independence is the foundation in the audit of financial statements. Therefore services that we provide together with audit of financial statements or other attestation services are limited.
Each member of the Association is an independent accountancy firm offering their own scope of services and are responsible only for the services which they specifically provide. Local laws also differ and not all members may be permitted to offer all services ‘under one roof’. In these cases, each member firm can recommend relevant professionals in these fields, who they have experience of working closely with, to ensure clients’ needs are met.
Islenskir endurskodendur ehf is the Clarkson Hyde Global representative firm in Iceland. It is a separate and independent legal entity which cooperates with fellow Clarkson Hyde Global member firms under a strict code of conduct, a shared vision for delivering proactive, partner-led support and a cost effective alternative to the large advisory practices.
If you would like to learn more about how we could help you or your business in Iceland, please don’t hesitate to get in touch with our lead partner: