Accept the right clients. Document every decision.
Client acceptance and continuance carry real risk, and generate real paperwork. Vidd gives audit partners and engagement teams risk-based acceptance, continuous monitoring for early warning signals, and documentation that stands up to quality review.
From acceptance to archive, on one platform
Risk-based acceptance
Screen prospective clients against sanctions, PEP and registry data before the engagement letter is signed.
Continuance, continuously
Ownership changes, new sanctions hits and rising risk indicators surface as they happen. Not at the annual review.
Early warning signals
Warning signals (unusual ownership changes, sanctions hits and adverse media) are flagged early, informing the engagement risk assessment.
Beneficial ownership, mapped
Untangle group structures and beneficial owners with company data pulled straight from the Bolagsverket register.
Documentation that withstands quality review
Every check, assessment and decision is time-stamped and logged, ready for the firm’s quality management under ISQM 1 and the Swedish Inspectorate of Auditors’ supervision.
Firm-wide consistency
Standardise acceptance and continuance across partners, teams and offices with one shared methodology.
Judgement calls, backed by evidence
Decline the wrong clients early
Structured, risk-based acceptance means the difficult conversations happen before the engagement starts, with the rationale on file.
Documentation that writes itself
Checks and decisions are captured as your team works, so engagement files are complete without a separate documentation exercise.
Frequently asked questions
Who supervises auditors’ anti-money-laundering work?
Auditors and registered audit firms are supervised by the Swedish Inspectorate of Auditors (Revisorsinspektionen), which also covers their obligations under the Anti-Money Laundering Act. Accounting firms, by contrast, fall under the County Administrative Boards.
How does vidd relate to ISQM 1?
ISQM 1 requires firms to design and operate a system of quality management, including acceptance and continuance of engagements. Vidd supports that work with consistent workflows, time-stamped decisions and a full activity log, it is a documentation and traceability tool, not a certification, and it does not replace the firm’s own quality management system.
Does the Anti-Money Laundering Act apply to small audit firms too?
Yes. The Act applies to auditors and audit firms regardless of size, the same obligations around risk assessment, customer due diligence and ongoing monitoring apply whether the firm has two partners or two hundred. The risk-based approach lets smaller firms scale the measures to their client base.