Insolvency Audits

Insolvency procedures


Sometimes business activities don’t result in the desired outcome, and business restructuring or bankruptcy may lie ahead. Our experts can assist you with the different stages of insolvency procedures.

Special audit concerning bankruptcy


Our services cover bankruptcy-related special audits, where the debtor’s activities are examined before the bankruptcy in order to protect the creditors’ interests. The audit examines for example whether assets can be recovered to the bankruptcy estate based on the Act on the Recovery of Assets to the Bankruptcy Estate, whether the debtor has treated their creditors appropriately, and whether the company has followed the provisions of for instance the Limited Liability Companies Act. The audit also gathers evidence on any potential criminal acts or fraud committed by the debtor and the management’s liability for damages towards the company or its creditors.

The creditors decide whether a special audit will be conducted. We have also conducted special audits upon request from the Bankruptcy Ombudsman when there has been reason to suspect that a law has been violated or that there are significant grounds for asset recovery or damages in an insolvent bankruptcy estate.

The special audit can be conducted either in its usual scope, by defining focus areas for the audit, or by tightly defining and limiting the audit to specific activities and/or procedures. We work in close collaboration with the Administration of Bankruptcy Estates so that the audit can be focused as efficiently as possible on examining those issues that have led to the initiation of the special audit process. We also take into account the recommendations made by the Advisory Board for Bankruptcy Affairs and conduct our reporting in a way that the administration can utilise our reports in e.g. preparing legal complaints and reports of an offence.


Business restructuring


When a debtor applies for restructuring, an auditor’s report may be required for the application. The report includes, for example, a statement on the solvency of the debtor and on the financial information attached to the restructuring application as well as other important details concerning the restructuring procedure on a case-by-case basis. It may also be beneficial to commission a special audit to uncover information required in the restructuring process.


Can we help?


With questions related to insolvency procedures, business restructuring and special audits, please contact Risto Mäkinen.

Contact us
for more information:
Hill Audit / Helsinki
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Risto Mäkinen

+358 44 363 5000


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Hill Audit Oy


Helsingin toimipiste

Yrjönkatu 23 B 22, 00100 Helsinki

puh. +358 40 640 2757

Tampereen toimipiste

Aleksanterinkatu 23 C 15 D,
33100 Tampere

puh. +358 44 363 5000


Hill Advisory Oy

Yrjönkatu 23 B 22, 

00100 Helsinki

puh. +358 40 640 2757


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