Audit & Assurance2021-08-27T09:38:20+00:00

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Audit Firm in The Netherlands

Audit Firm in The Netherlands
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”Reanda Netherlands specializes in statutory audits that will provide stakeholders with as much assurance as possible.”

In order to comply with Dutch legislation, companies can be obligated to have a statutory audit of the year-end figures performed by a licenced audit firm. A financial audit is mandatory when at least two out of the following three criteria are met (for two consecutive years):

  • The value of assets exceeds 6 million euros
  • The net turnover is in excess of 12 million euros
  • The company has over 50 employees

Reanda Netherlands is an AFM-licenced audit firm in The Netherlands, specialized statutory audits. Our financial audits will provide stakeholders with as much assurance as possible.

A highly specialized audit firm in Amsterdam, The Netherlands

As a highly specialized audit firm in Amsterdam, The Netherlands, we are licenced to perform all kinds of financial audits, regardless of industry. Our audit firm possesses all the required licences, knowledge and experience to perform an independent, thorough and reliable compulsory financial audit .

A good auditor can do more than just check the facts and figures in the reports. Our auditors are highly dedicated professionals, whose objective is to provide stakeholders with as much assurance as possible. Therefore, our auditors will always make sure they know all there is to know about your company and organization. Understanding and validating important figures can only be done properly with extensive knowledge of the company, its activities and the industries it operates in.

Trusted audit firm for international companies

As a renowned audit firm in The Netherlands we are familiar with statutory audits for international companies. When banks, investors, local authorities or other stakeholders require an audit, we will perform a thorough audit that offers maximum assurance. Some situations, for example a legal merger, require an auditor’s opinion, often requested by insurance companies.

We specialize in helping international companies comply to Dutch law and regulations in regard to audits. In fact, Reanda Netherlands is the only audit company in Amsterdam and The Netherlands who specializes in helping and supporting international companies who have the majority of their operations outside The Netherlands.

Even when the criteria for mandatory audits are not met, stakeholders can request or require financial audits. Whether mandatory or voluntarily, you want to trust in an experienced, reliable partner. Over the years we have made a name for ourselves and established valuable, long-term relationships. For many clients we have become their trusted audit firm in The Netherlands.

Financial audits are highly complicated and regulations are frequently subject to change. Our specialists are continuously trained and have up to date knowledge on all areas at all times. Our auditors are able to fully integrate into any type of organization. Even though we work independently, they are always able to work together with any stakeholder, while maintaining their integrity.

Extensive knowledge of all holding structures

The legal system and tax climate make The Netherlands an attractive country for international companies to establish their holding. This means, however, that any international company based or active in The Netherlands must comply to both international and national law and legislations. We have extensive knowledge of all holding structures and can make sure financial administration is in full compliance. As an expert in any type of firm we can offer much more than a yearly audit.

We understand the needs of international oriented companies and can help them grow. We act as a group auditor, but are the only audit firm in The Netherlands that offers service in areas such as risk management, compliance and much more. We speak your language, we understand your challenges and we are here to guide you through them.

Assurance

Other, non-audit engagements that can be performed by an auditor are regulated as well.
Example of such services are related to:

  • Audit of condensed financial statements (NV COS 810)
  • Audit engagement of historical financial overviews (NV COS 2400)
  • Review of Interim Financial Information Performed by the Independent Auditor of the Entity (NV COS 2410)
  • Assurance reports other than the engagement to audit and performance assurance on historical financial information (NV COS 3000)
  • Investigation of future financial information (NV COS 3000), for example in business plans, financial projections and valuations;
  • Agreed upon procedures (NV COS 4400)

Are you looking for an audit firm in The Netherlands?

Are you looking for an audit firm in The Netherlands? Contact us. We are looking forward to get acquainted. We will happily answer all your questions and explain to you how Reanda Netherlands can help you with audit, assurance, advisory, accountancy and audit related services.

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What is an audit?2021-06-21T08:31:28+00:00

Usually associated with financial audits, an audit is the process of examining and evaluating the financial statements of an organization in order to determine whether the financial statements truly reflect the transactions occurred during the year and the economic health of the organization.

What is an assurance?2021-06-21T08:31:51+00:00

Assurance, which is very similar to audit is a professional service with the purpose of improving the accuracy, transparency and reliability of an organization’s financial statements. Assurance services are usually done by licensed external auditors. Technically an audit could be seen as a type of assurance.

Why is an audit needed?2021-06-21T08:32:22+00:00

Audits provide increased reliability and credibility to an organization’s financial statements. As a result this gives confidence to stakeholders and integrity of financial markets. Without audits the financial markets would be based on possibly fictitious financial statements which holds no value to society.

How long will an audit take?2021-06-21T08:33:00+00:00

Audits usually take up to three months which consists of different phases such as planning, execution and finalization. However the timeframe can also be affected by other factors such as the company’s size and complexity of its structure and transactions.

What is a statutory audit?2021-06-21T08:33:18+00:00

It is essentially the same as an usual audit but it is legally required by law (also known as mandatory audit). For example, organizations that are publicly listed require mandatory audits.

What does a financial audit include?2021-06-21T08:33:31+00:00

A financial audit is the process of examining and evaluating the financial statements of an organization and it includes three main phases; planning, execution and finalization. Planning involves auditors conducting due diligence and risk assessment of the organization being audited. Execution is field work such as on-site inspections at the organization and analyzing its financial statements. Lastly finalization is producing the audit report which includes a statement whether the organization’s financial statements represent a true and fair view.

When is a financial audit mandatory?2021-06-21T08:33:52+00:00

This depends on which country as each has its own requirements. The Netherlands for example has the following requirements; A financial audit is mandatory when at least two out of the following three criteria are met (for two consecutive years):

  • The value of assets exceeds 6 million euros
  • The net turnover is in excess of 12 million euros
  • The company has over 50 employees
What license do you need to perform an audit?2021-06-21T08:34:10+00:00

The Audit Firms Supervision Act introduces public oversight by the Dutch Authority for the Financial Markets (AFM) on audit entities that provide audit reports that are relevant to the Dutch capital markets. Since 1 October 2006, audit firms need to have a license from the AFM in order to perform statutory audits in the Netherlands. Reanda Netherlands is an AFM-licenced audit firm in The Netherlands.

Which audits does Reanda Netherlands offer?2021-06-21T08:34:25+00:00

Reanda Netherlands is an AFM-licenced audit firm in The Netherlands, specialized in statutory audits. Our financial audits will provide stakeholders with as much assurance as possible. In addition as a result of the pandemic, we provide accounting and auditing services pertaining to the NOW subsidy regulation. Audit requirements regarding the Temporary Emergency Bridging Measure for Sustained Employment (Tijdelijke Noodmaatregel Overbrugging voor Werkbehoud NOW).