Nordic Accountant Federation NAF
The Nordic Accountant Federation NAF is a federation of Nordic accounting organizations in Sweden, Finland and Norway. The purpose of NAF is to provide information on business conditions in the Nordic countries and make it easier finding a reliable business-consultant.
The Accounting Profession in the Nordic Countries
The accounting profession is quite similar in Finland, Sweden and Norway. In these countries accounting and auditing are recognized as separate professions. An individual or company is therefor not permitted to carry out both accounting and auditing services for the same client.
Law regulates the auditing profession in all the Nordic countries. However, only Norway has a legislative framework governing the accounting profession. In 1993 a law was passed which (amongst other things) makes demands on these engaged in accounting and sets standards relation to education and experience.
A considerable number of Scandinavian businesses use the services of professional accounts. Surveys show that more than half of the small and medium-sized companies in Finland, Sweden and Norway use external consultants for their accounting needs.
The accountants organizations in these countries see their main objective as being to promote high professional and ethical standards amongst accountants. The organizations establish regulations relating to accounting practice and arrange a wide range of courses and seminars for their members which are designed to ensure high professional standards.