Audits - doing business the safe way
For some, and audit is an annual obligation. For others, it's the confirmation of well executed and successful accounting procedures. We are authorised to carry out audits, allowing you to continue running your business safely. We also specialise in auditor's reports for administrators.
Close scrunity
Having certainty about your financial figures not only brings you peace of mind but also reassures your stakeholders, such as shareholders, creditors, and other interested parties. That's why we’re here to develop a meticulous action plan for the audit report, including internal control measures. Our experts take a comprehensive view of your organization and delve into your industry, involving you in the process.
The process
When conducting an audit, such as reviewing your financial statements, we always maintain ongoing communication with you about the progress. If we require any additional information, we will reach out to you. If we identify any areas for improvement, we discuss them with transparency and clarity. Wherever we see opportunities, we provide recommendations. This way, you have a clear understanding of where you stand and can strive for optimal business results.
Naturally, we work and report independently, following the professional regulations and guidelines of applicable laws and regulations. This way, we ensure profitable bottom-line results for everyone. We operate in your best interest and the public interest. That aligns with our own ambition: delivering added value to your business.
When is an audit required?
An audit is required when your company meets at least two of the following conditions, for two consecutive years:
- total assets exceed 6 million euros
- net turnover exceeds 12 million euros
- having 50 or more (full-time equivalent) employees
Ensure your business’ safety? Schedule a free consultation with Jaap.
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FAQ
What is the difference between a compiling assignment and an audit?
During a compiling assignment, the accountant assists the management (solely) in the preparation of the financial statements. The accountant relies on the information provided by the management. The accountant does not perform procedures to verify the accuracy of this information.
In an audit, the accountant provides an audit opinion, and in a compiling assignment, the accountant provides a compilation report. In the compilation report, the accountant does not express a conclusion on the financial statements, whereas in the audit opinion, the accountant provides a conclusion on the financial statements based on the audit procedures performed.
What is an audit?
In an audit engagement, the accountant examines whether the financial statements prepared by the management provide a true and fair view of the financial position of the company. The accountant expresses an independent opinion on this matter (the financial statements should be sufficiently accurate for the average user to make decisions based on them).
What is a statutory audit engagement?
A statutory audit engagement is an audit that is legally required for an organisation based on criteria specified in the law (Title 9 of Book 2 of the Dutch Civil Code). This audit requirement applies to medium-sized and large enterprises.
What are the criteria for a statutory audit engagement?
A private limited company, public limited company, or institution is legally required to have an audit engagement if it meets two of the following criteria for two consecutive years (the two-year period does not apply to newly established entities):
- total assets > 6 miljoen euro
- net turnover > 12 miljoen euro
- having 50 or more employees