Audit and assurance

How our auditors can help you

Our auditors specialize in international audits and perform a wide range of other engagements.

Our services include:

International audits

  • Group audits, including the financial statements of the local entity
  • Audits based on the International Standards on Auditing (ISA), in compliance with the IFAC Code of Ethics for Professional Accountants
  • Managing cross-border audit teams and ensuring consistent application of auditing standards across different jurisdictions

Other engagements

  • Audit of condensed financial statements
  • Audit of financial statements prepared under a special purpose framework (e.g., subsidies)
  • Review of future financial information, such as business plans, financial projections, and valuations
  • Agreed-upon procedures
  • Assurance reports other than audits, including assurance on historical financial information

Audit in four steps

Planning and risk assessment
First we make a planning of the audit work, start with the opening balance procedure, do the risk assessment, analytical review, test the design and implementation of the internal controls, and determine the materiality.
Risk response
Based on the scope and risk areas identified in the previous stage, we conduct the audit of the reported financial information. We identify potential consequences and obtain measures to mitigate risks to an acceptable level.
Plans and procedures
This phase is central to executing the audit strategy and involves a structured set of activities designed to gather sufficient and appropriate audit evidence. Auditors carry out the procedures outlined during the planning phase. Financial data is compared to expectations, the effectiveness of internal controls is evaluated, and we gather evidence and documentation to assess whether the evidence supports the audit objectives. All findings and conclusions are documented.
Completion
For the last step we finalise the audit and issue the auditor’s opinion. We review the audit process with your management and see if there are any points for improvement. We wrap things up with a client satisfaction survey

What can we offer to you?

As a renowned audit company in the Netherlands we are familiar with statutory audits for international companies.
What is an audit?
An audit is an independent examination of financial information of any entity, whether profit-oriented or not, irrespective of its size or legal form, conducted with a view to express an opinion thereon. In the Netherlands, audits are performed in accordance with the Dutch Standards on Auditing (NV COS), which are based on the International Standards on Auditing (ISAs).
When is an audit required in the Netherlands?
In the Netherlands, a financial audit is mandatory when at least two of the following three criteria are met for two consecutive years: the value of assets exceeds €7.5 million, net turnover is greater than €15 million, or the company has more than 50 employees. Even if these criteria are not met, companies may choose to undergo a voluntary audit.
What are the audit standards in the Netherlands?
The Dutch audit standards, known as NV COS, are largely derived from the International Standards on Auditing, with some local adjustments.
What clients can expect during an audit?
Clients can expect clear and regular communication throughout the audit. The auditor will request documentation and information, conduct interviews with key personnel, and perform tests on financial transactions and balances. Meetings will be held to discuss findings and recommendations, and the auditor will provide feedback on areas for improvement.
How long does an audit take?
The duration depends on the size and complexity of the entity. An audit can take anywhere from a few weeks to several months. Key factors include the availability of information, the level of client cooperation, and the overall scope of the audit.
The role of internal controls
Internal controls are processes established by management to safeguard the integrity of financial and accounting information, promote accountability, and prevent fraud. Auditors assess the effectiveness of these controls to determine whether they can be relied upon to reduce the risk of material misstatements in the financial statements.

Request your audit

Complex, international audits requires auditors who are specialised. At Reanda Netherlands we bring our expertise, understanding of international businesses and years of experience together to ensure delivering an audit that will satisfy your requirements.
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