Our Dutch accountants can provide in-depth assistance on the audit procedures that are available for local businesses. For in-depth advice regarding this matter, please address to our accounting firm in the Netherlands, at https://www.dutch-accountants.com/.
Keppel Ltd. 1Q 2024 Business Update Presentation Slides
Audit Requirements in the Netherlands
1. Audit Requirements in the
Netherlands
A presentation brought to you by
Dutch-Accountants.com
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2. Audit in the
Netherlands >>
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• According to the accounting
law in the Netherlands, it is
compulsory for every company
or other type of corporate
entity to submit annual financial
statements.
• In a balance sheet, the
company must report on its
assets, liabilities and the
equity of each owner.
3. >> Audit in the
Netherlands
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• If the company is foreign, the
financial statements must be
deposed in the origin country and to
the Trade Register of the Chamber
of Commerce where the main Dutch
office is located.
• In the case you have a business
elsewhere and you have opened a
branch of it in the Netherlands, the
law usually does not require
financial statements, because the
branch does not have legal
autonomy from the mother
company.
4. Legal Requirements
for Dutch Audit >>
• Depending on the size of the
company (micro, small, medium
or large), the publication,
consolidation and audit
requirements differ.
• The size of the company is
determined by reference to the
value of the balance sheet assets,
the net turnover and the number
of employees.
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5. >> Legal Requirements
for Dutch Audit
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• In order to be considered a micro
company the total value of assets
of a business must be less than
EUR 350,000 and the company can
have up to 9 employees.
• The net turnover for a company
which is considered small can be
of maximum EUR 12 million and
the enterprise can hire up to 50
persons.
• Our team of Dutch accountants
can offer more details on this
matter.
6. Audit for Medium and
Large Companies >>
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• The laws for audit in the
Netherlands stipulate that only
medium and large companies must
create an annual financial
report audited by an independent,
qualified and registered auditor,
from a Dutch accounting firm.
• Since 2016, the thresholds for the
classification of the companies in
small, medium and large have
increased thus making many
previous large companies to be
considered medium or small by the
new law.
7. >> Audit for Medium and
Large Companies
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• Since the requirements for smaller
companies are lighter this
represented an advantage in terms
of accounting for many business
owners.
• As such, a small company will only
have to provide an abridged
balance sheet and abridged
explanatory notes.
8. Dutch Audit
Procedures >>
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• The auditor is chosen and approved
either by the general shareholders
meeting, the supervisory board or
the managing board.
• The supervisory or managing
boards must first read the
auditor’s report and then approve
the financials statements.
• The auditor’s report must contain a
set of company documents and
information.
9. >> Dutch Audit
Procedures
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• The auditor’s report must
contain information on the
following:
if the financial statements
contain information in
accordance with the principles
of accounting firms in the
Netherlands;
if the financial statements
contain accurate information
about the financial situation for
the respective year.
10. Consultancy Services
in the Netherlands
• Our accountants can offer further
advice on other audit
requirements available in this
country.
• Businessmen can also receive
financial consulting services
addressed to local companies.
• For more details regarding these
subjects, please contact our
accounting firm in the
Netherlands.
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11. Thank you for your
attention!
• For more information please contact us at:
office@bridgewest.com
www.dutch-accountants.com
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