Doing Business in the Netherlands 2012 - American Chamber of ...

Doing Business in the Netherlands 2012
French, German, or English and submitted to the Trade
Register of the Chamber of Commerce.
5.10 Auditing Requirements
Medium-sized and large companies are required to have their annual
accounts audited. Annual accounts of group companies that do not
need to be drawn up in accordance with the legal requirements due to
group exemptions or consolidation do not need to be audited. The
external auditor must examine whether the annual accounts provide
the requisite legal disclosures and whether the annual accounts, the
director’s report and other information comply with the statutory
requirements. It should also be verified that the director’s report does
not conflict with the annual accounts. The auditor must be a Dutch
certified public accountant or a foreign auditor licensed to practice in
the Netherlands and is to be appointed by the general meeting of
members or shareholders. If the shareholders or members fail to do
so, the board of supervisory directors or managing directors may be
authorized to appoint the auditor.
Baker & McKenzie 51