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ARTICLE · 02 MAY 2012

Registered Accountants Bill

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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The Accountants Bill, submitted to parliament last year, aims to merge the professional accountants' organisations NIVRA and NOvAA into the new Netherlands Institute of Chartered Accountants (''NBA'').

NetherlandsStrategy
Patrick Ploeger
Patrick Ploeger
Marnix Somsen
Marnix Somsen
Roan Lamp
Roan Lamp
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The Accountants Bill, submitted to parliament last year, aims to merge the professional accountants' organisations NIVRA and NOvAA into the new Netherlands Institute of Chartered Accountants (''NBA''). The NBA will be a public-law organisation providing services to support the accounting profession.

On 14 February 2012, the Second Chamber of parliament voted in favour of the Bill, with the following amendments:

  • Public-interest entities ("PIE") will have to rotate audit firms every eight years.
  • PIEs will have to inform the AFM about their choice of auditor.
  • An audit firm charged with the statutory audit of a PIE will be restricted from carrying out other types of work for the PIE.

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