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10:07 Jun 20, 2011
Danish to English translations [PRO] Bus/Financial - Finance (general) / Auditor independence - client relations and private interests
Danish term or phrase:erklæringskunde
I understand this term as a concept - it is referred to several times in this passage, but I am not sure precisely what the term is in English.
The text is about the fact that to maintain independence, an auditor and his/her near relattives may not have financial interests in any ´erklæringskunde´ that the auditor is working for, or he/she must be removed from the assignment.
Den forretningsmæssige forbindelse kan dog få et så betydeligt omfang, at revisors uafhængighed bliver truet på grund af manglende uafhængighed.
EU-henstillingen omtaler en række eksempler på forretningsforbindelser, der - såfremt de er væsentlige for revisor eller udøves uden for den normale virksomhed - kan skabe trusler i form af egeninteresse, påvirkning eller in-timidering:
− en økonomisk interesse i et joint venture sammen med *erklæringskunden* eller en ejer, direktør eller andre personer med en højere ledelsesfunktion hos kunden,
− en økonomisk interesse i en virksomhed, som ikke er en *erklæringskunde,* og som har investeret i en *erklæringskunde,* eller som *erklæringskunden* har investeret i,
− lån, der ydes til *erklæringskunden* eller garantier for revisionsklientens risici,
− lån fra en revisionsklient eller lån, der er garanteret af en revisionskunde,
− tjenesteydelser til en direktør eller en anden person med en højere ledelsesfunktion hos *erklæringskunden,* der er i dennes personlige interesse,
− tjenesteydelser fra *erklæringskunden* eller dennes tilknyttede virksomheder vedrørende garanti, udbud, markedsføring eller salg af værdipapirer, der udstedes af revisionsvirksomheden eller et firma i samme koncern.
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Declarable client does not sound right or give any hits, and after a fair amount of searching I seem to be getting nowhere.
[PDF] Internal Market - Statutory Auditors' Independence in the EU: A ... - PDF/Adobe Acrobat - Quick view
***When carrying out a Statutory Audit, a Statutory Auditor must be independent from his Audit Client, both in mind and in appearance. A statutory auditor should not carry out a Statutory Audit if there are any financial, business, employment or other relationships between the statutory auditor and his client (including certain non-audit services provided to the audit client) that a reasonable and informed third party would conclude compromise the statutory auditor’s independence.*** ... www.iasplus.com/resource/euaudit.pdf -
[PDF] AkzoNobel Policy on Auditor Independence - PDF/Adobe Acrobat - Quick view
***the European Commission Recommendation on Statutory Auditor's Independence in the EU (issued May 2002). These rules are based on the principle that an auditor must be independent of the audit client, both in fact and in appearance.*** ... the review of internal accounting and financial reporting controls; ... www.akzonobel.com/.../AkzoNobel_Auditor_Independence_Policy... 061207_tcm9-4689.pdf -
Searching further, I have found some references to 'attest clients' that are very close if not identical to the 'erklæringskunde' in my text.
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Answers
1 day17 hrs confidence:
audit client
Explanation: audit client
sources:
[PDF] Internal Market - Statutory Auditors' Independence in the EU: A ... - PDF/Adobe Acrobat - Quick view
***When carrying out a Statutory Audit, a Statutory Auditor must be independent from his Audit Client, both in mind and in appearance. A statutory auditor should not carry out a Statutory Audit if there are any financial, business, employment or other relationships between the statutory auditor and his client (including certain non-audit services provided to the audit client) that a reasonable and informed third party would conclude compromise the statutory auditor’s independence.*** ... www.iasplus.com/resource/euaudit.pdf -
[PDF] AkzoNobel Policy on Auditor Independence - PDF/Adobe Acrobat - Quick view
***the European Commission Recommendation on Statutory Auditor's Independence in the EU (issued May 2002). These rules are based on the principle that an auditor must be independent of the audit client, both in fact and in appearance.*** ... the review of internal accounting and financial reporting controls; ... www.akzonobel.com/.../AkzoNobel_Auditor_Independence_Policy... 061207_tcm9-4689.pdf -
andres-larsen Venezuela Local time: 07:14 Specializes in field Native speaker of: English PRO pts in category: 29
Grading comment
Thanks.
I think 'erklæringskunde' is a wider concept that includes audit clients, but the references were useful.
The second example sentence is the definition of 'assurance client' from the second link.
Example sentence(s):
“Assurance engagement” means an engagement in which a practitioner expresses a conclusion designed to enhance the degree of confidence of the intended users other than the responsible party about the outcome of the evaluation or measurement...
The responsible party in respect of which a firm conducts an assurance engagement.
Reference: Statutory Auditors' Independence in the EU
Reference information: [PDF] Internal Market - Statutory Auditors' Independence in the EU: A ... - PDF/Adobe Acrobat - Quick view
Statutory Auditors' Independence in the EU: A Set of Fundamental Principles. ORIG: EN. THE COMMISSION OF THE EUROPEAN COMMUNITIES, ... www.iasplus.com/resource/euaudit.pdf -
andres-larsen Venezuela Specializes in field Native speaker of: English PRO pts in category: 29
Here they clearly describe when the term 'erklæringskunde' applies:
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Generelt tales i vejledningen om ”erklæringskunder”. Udtrykket vil efter omstændighederne også kunne omfatte ikke-kunderelaterede forhold.
Det er alene, når revisor påtager sig eller udfører erklæringsopgaver med sikkerhed, at revisor skal vurdere sin uafhængighed af kunden.
Sådanne opgaver er
• afgivelse af revisionspåtegninger på regnskaber, herunder udtalelser om ledelsesberetninger i henhold til årsregnskabsloven,
• afgivelse af andre erklæringer med sikkerhed, der ikke udelukkende er bestemt til hvervgiverens eget brug.
Det er vigtigt at være opmærksom på, at den danske revisorlovgivning er bredere end både 8. direktiv og EU-henstillingen, som alene vedrører lovpligtig revision. (see the following paragraph for further explanation and examples of situations where this term wouldn't apply)
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Maybe that can help you find an appropriate term or to coin one if there isn't an established term that would cover this. Not sure if 'attest client' might be too broad in this case?
Mette Melchior United Kingdom Specializes in field Native speaker of: Danish PRO pts in category: 20
The translation workplace 
