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...

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.

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...

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.

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...

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.

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...

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.

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...

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.

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...

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.

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...

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.