Choosing an advisor

When choosing an advisor, there are at least three important factors to consider.

First, you should be clear about whose interests the advisor is engaged to serve.

Second, you should consider whether the advisor has the right expertise to advise you on the matter at hand.

Third, you should ensure that the advisor carries professional liability insurance.

An advisor will typically be obliged to remain loyal to their principal. A company’s auditor or lawyer is engaged by the company and serves the company’s interests. A bank advisor is employed by the bank and serves the bank’s interests, and so on.

At PrivatRevision, we are engaged by you. We serve exclusively your interests—and only yours. If you own a sole proprietorship, your personal and business interests are aligned, allowing us to advise both you and your business in those cases.

When it comes to preparing financial statements, it is worth considering whether potential conflicts of interest exist between the company’s management and its owners, or whether major creditors may have competing interests. In such situations—especially where management and ownership are separate, or where large creditors are involved—statutory audit by a state-authorized or registered auditor may be necessary, though it can be costly. By contrast, in a sole proprietorship, where ownership and management are one and the same, it is often more valuable to focus on financial statements as a management tool—and to minimize what are typically the largest expenses for private businesses: VAT and tax.

Assessing an advisor’s competence is sometimes more complex. An advisor you generally trust may be highly skilled in certain areas but less so in others. After all, few craftsmen excel equally at every stage of building a house.

At PrivatRevision, we are direct about our strengths. We are highly experienced in advising private individuals, particularly in matters relating to real estate. We specialize in advising entrepreneurs and in preparing financial statements that give management clear insights into their company’s finances. We are also experts in the taxation of small businesses and their owners.

We have extensive expertise in parent-to-child property transfers (“forældrekøb”) and all aspects connected to them. We also advise on the purchase and sale of real estate—from reviewing contracts and easements to handling the tax implications of a sale.

In addition, we provide insolvency advisory services to private individuals, entrepreneurs, and owner-managers.

Insolvency cases are often handled by lawyers, but legal assistance is frequently beyond reach for those facing insolvency. In particular, when it comes to voluntary arrangements or debt relief, PrivatRevision offers effective and competitively priced solutions. We have assisted in more than 300 debt relief and settlement cases for private clients, giving us a solid foundation of practical experience.

Our advice to you is simple: choose your advisor based on who is best suited to handle the tasks you need support with. We have our areas of expertise. Others have theirs.