The Financial Reporting team closely follows the development of relevant legislation such as the Audit Firms Supervision Act, the Chartered Accountants Supervision Act and the Financial Supervision Act, and they make the transition to practice.
Financial reporting and auditing
In today’s society, financial reporting by businesses is the subject of increasingly closer scrutiny. The roles of the auditor and the audit firms where auditors work are also monitored closely. Furthermore, the credit crisis and a number of scandals reinforced the call for stricter supervision of financial reporting and the auditing thereof. Legal proceedings brought by third parties and supervisory and/or investigative authorities are avoided.
We have practical experience with accounting and reporting rules, supervision of audit firms by the Netherlands Authority for the Financial Markets [Autoriteit Financiële Markten (AFM)], and disciplinary and civil liability proceedings for auditors and audit firms against whom a claim has been made. All of these are proceedings and processes that are important to and have an impact on auditors and audit firms.
We know exactly what you need in this respect and not only do we know about the legal details and legislation, we also take any (potential) publicity and economic consequences into account. We know what to do and we will assist you, also when you, as an auditor or audit firm, are faced with criminal or information investigations by the Fiscal Intelligence and Investigation Service [Fiscale inlichtingen en opsporingsdienst (FIOD)].
If you have any questions or would like to receive more information on our approach to issues in this field, please contact Simone Hoogeveen (civil law, disciplinary law and supervision) or Jan Leliveld (Contentious Regulatory & Criminal Enforcement).