Netherlands Association of Registered Controllers

Member | Established: 1988 | Member since 2014

The Netherlands Association of Registered Controllers (Vereniging van Registercontrollers or VRC), was established in 1988. The VRC is a voluntary professional organization and members offer services in management accounting, financial accounting, integrated reporting, strategic control and risk management, and corporate governance. They do not perform audits. The VRC’s members who are also members of the Royal Nederlandse Beroepsorganisatie van Accountants (NBA) may perform audits and are therefore subject to NBA regulations. VRC’s objectives are to maintain the quality of its Executive Master of Finance and Control (EMFC) program, oversee and promote the quality of the professional practice of its members, and promote the development of the profession of management accountants and controllers in accordance with its constitution. The VRC offers a designation of Registered Controller (RC) to members who successfully complete the EMFC program. Since June 2016 the VRC is a full member of the International Group of Controlling (IGC).

View Jurisdiction profile

Statements of Membership Obligation (SMO)

The Statements of Membership Obligations form the basis of the IFAC Member Compliance Program. They serve as a framework for credible and high-quality professional accountancy organizations focused on serving the public interest by adopting, or otherwise incorporating, and supporting implementation of international standards and maintaining adequate enforcement mechanisms to ensure the professional behavior of their individual members.

Last updated: 12/2015
We welcome feedback. Please email

SMO Action Plan

Status of Fulfillment by SMO

  • SMO 1: Quality Assurance

    The Authority for the Financial Markets and Netherlands Institute of Chartered Accountants carry out quality assurance (QA) reviews of statutory audits in line with SMO 1 requirements. VRC members are not auditors. They offer services in management accounting, financial accounting, integrated reporting, strategic control and risk management, and corporate governance. The VRC has no responsibility for adoption and implementation of the QA system in the Netherlands but has indicated in its SMO Action Plan that, given that the QA system is in place and is operating efficiently, the focus is on ensuring the highest quality of education and training for members through the Quality Assurance Committee.

    Current Status: Sustain

  • SMO 2: International Education Standards

    The VRC has shared responsibility for the educational requirements of its members. It collaborates with the other responsible parties to ensure that the initial professional development and continuing professional development (CPD, respectively) programs for management accountants are aligned with IES. The VRC periodically engages in policy dialogues with accredited education providers and conducts reviews of existing programs to ensure continued alignment with the standards. It continuously monitors changes to the IES so that the association’s standards are compliant and kept up to date. The VRC also comments on IAESB Exposure Drafts.

    The VRC also complies with SMO 2 by providing a range of educational material and learning opportunities for members to fulfill the mandatory continuing professional development requirements, and monitors and enforces compliance.

    The VRC entered a joint venture with the Netherlands Institute of Chartered Accountants to provide training and development programs, including online courses, host various events (conferences, seminars, etc.), and publish the Management Control and Accounting Journal.

    Current Status: Sustain

  • SMO 3: International Standards on Auditing

    The VRC has no direct responsibility for the adoption and implementation of standards issued by the IAASB. Nevertheless, it promotes the implementation of the standards that have been adopted by offering courses in its continuing professional development program that include standard-related topics.

    The association assists members with keeping up to date on IAASB standards and pronouncements by providing access to IFAC resources, such as the IFAC Global Knowledge Gateway, on its website.

    Current Status: Sustain

  • SMO 4: Code of Ethics for Professional Accountants

    As the VRC is responsible for adopting a Code of Ethics for its members, it adopts and supports the implementation of the IESBA’s Code of Ethics.

    In 2013, the association approved a revised a Code of Ethics, which incorporated the sections of the IESBA Code of Ethics that are relevant to management accountants. The VRC monitors and adopts the revisions to the IESBA Code of Ethics on an ongoing basis.

    The association supports members’ compliance with the Code of Ethics through (i) the provision of printed complete and abridged versions in Dutch and English, and (ii) publication of updates and changes in the Code of Ethics on the VRC’s website and in its Management Control and Accounting Journal. It has instituted mandatory ethics training based on the fundamental principles of the Code of Ethics and on professional conduct, and incorporates material on ethical requirements into its initial professional development and continuing professional development curricula. The VRC also organizes events that allow members to discuss case studies that portray ethical dilemmas, and makes available a confidential counselor to assist members in resolving significant ethical situations.

    The VRC also participates in the international standard-setting process by providing comments on Exposure Drafts and other IESBA pronouncements.

    Current Status: Sustain

  • SMO 5: International Public Sector Accounting Standards

    The VRC does not have any responsibility for the adoption of public sector accounting standards. It does, however, support the adoption IPSAS by raising awareness through (i) continuing professional development courses on the issue of public sector accounting; (ii) providing access to IPSAS and guidelines that are available on the IFAC website; (iii) publishing special articles on the theme of public sector accounting in the Management Control and Accounting Journal; and (iv) conducting and publishing interviews with public sector accountants.

    The VRC also participates in the international standard-setting process by providing comments on Exposure Drafts issued by the IPSASB.

    Current Status: Sustain

  • SMO 6: Investigation and Discipline

    The VRC is responsible for the investigation and discipline (I&D) of its members. It established an I&D system compliant with SMO 6 in order to monitor and enforce its members compliance with the VRC’s Code of Ethics and internal regulations.

    The association publishes a detailed description of its investigation and disciplinary process on its website to support member’s compliance with applicable ethical standards and professional regulations. The VRC annually reviews the performance of the I&D system, including the independence of the members of the Disciplinary Board, in order to ensure continued compliance with SMO 6.

    Current Status: Sustain

  • SMO 7: International Financial Reporting Standards

    The VRC is not responsible for the adoption and implementation of IFRS in the Netherlands but does support implementation through the provision of standard-related topics in initial professional development and continuing professional development courses. The VRC also provides updated information on IFRS through its website and magazine.

    Current Status: Sustain


IFAC bears no responsibility for the information provided in the SMO Action Plans prepared by IFAC member organizations. Please see our full Disclaimer for additional information.


Burgemeester Stramanweg 105
Amsterdam 1101 AA
Tel: +31(0)20 240 1100.

Primary tabs

Thank you for your interest in our publications. These valuable works are the product of substantial time, effort and resources, which you acknowledge by accepting the following terms of use. You may not reproduce, store, transmit in any form or by any means, with the exception of non-commercial use (e.g., professional and personal reference and research work), translate, modify or create derivative works or adaptations based on such publications, or any part thereof, without the prior written permission of IFAC.

Our reproduction and translation policies, as well as our online permission request and inquiry system, are accessible on the Permissions Information web page.

For additional information, please read our website Terms of Use. ALL RIGHTS RESERVED.