Royal Nederlandse Beroepsorganisatie van Accountants
Member | Established: 2013 (predecessor founded in 1895) | Member since 2013 (predecessor a founding member)
The Royal Nederlandse Beroepsorganisatie van Accountants (NBA) was formed from the merger of two Dutch professional accountancy organizations—the Royal Dutch Institute of Chartered Accountants (Royal NIVRA) and the Dutch Association of Accountants (NOvAA)—in January 2013. The Royal NIRVA, which was established in 1895, comprised accountants and auditors in public practice, the business sector, and government. Members of the NOvAA, which was founded in 1948, were primarily accountants. In December 2012, the Dutch Audit Profession Act (Wet AccountantsBeroep) established the legal status of the NBA and outlined the institute’s mandate, which includes promoting the profession and serving its members, establishing professional standards, and ensuring that members comply with relevant rules and regulations. Membership in the NBA is mandatory for all auditors. The NBA is a member of the Fédération des Experts Comptables Européens and the European Federation of Accountants and Auditors for SMEs.
Statements of Membership Obligations (SMOs)
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.
The Royal NBA, which has shared responsibility for the quality assurance (QA) review system, focuses on the timely implementation of new requirements to strengthen audit quality in the Netherlands and comply with the requirements of SMO 1.
Specific activities to achieve its objectives include: (i) providing detailed information on the revised Quality Assurance Review Program to all active members, (ii) supporting members through the preparation and dissemination of practice guidance and tools, and offering relevant continuing professional development courses on quality control, ethical, and professional standards, and (iii) strengthening the capacity of review team leaders and team members to conduct inspections by providing the relevant tools and training.
The Royal NBA has an ongoing process in place to promote updates to the QA Review Program in the Netherlands and participates in policy dialogues with the public oversight authority, the Netherlands Authority for the Financial Markets, on SMO 1 requirements. Similarly, it works with the bodies that it has accredited to carry out QA reviews for its members who serve the public sector, and small- and medium-sized practices, to revise and update the review systems to continue to enhance alignment with SMO 1. The institute monitors and enforces compliance with best practice quality control and QA practices.
The Royal NBA, with shared responsibility for initial professional development (IPD) and continuing professional development (CPD) of the accountancy profession, uses its best efforts to comply with SMO 2 requirements and IESs. The institute encourages relevant bodies to implement post-implementation reviews of the national accountancy education requirements and collaborates with the Commissie Eindtermen Accountantsopleiding to ensure that education providers comply with the prescribed entry-level requirements to the profession. The Royal NBA actively seeks to enhance convergence of all aspects of IPD and CPD, respectively, programs with IESs through appropriate content and activities related to education, examination, and certification of Registered Accountants (Registeraccountants, RAs) and Accounting Consultants (Accountant Adminstratieconsullent, AAs). It monitors the various components of the educational program and provides guidance to members on how to comply with the requirements. Along with the other responsible parties, the Royal NBA has a process in place to monitor and incorporate new and revised IESs. The Royal NBA, together with the VRC (the Netherlands Association of Registered Controllers), established and operates a training institute.
The Royal NBA has direct responsibility for the translation and adoption of standards and other pronouncements issued by the IAASB. It supports the implementation of ISAs by ensuring that relevant Dutch standards, regulations, and guidance materials incorporate the standards.
The Royal NBA regularly informs members about updated IAASB standards and pronouncements in English, while it translates the revisions for public dissemination after they have been published. It raises awareness of new requirements and makes implementation guidance and tools available to practitioners on its website.
The institute incorporates standard-related topics into mandatory continuing professional development courses and has an audit-mentoring program for audit firms that receive negative quality assurance results.
The Royal NBA also participates in the international standard-setting process by providing comments on IAASB Exposure Drafts.
As the Royal NBA shares responsibility for the adoption and implementation of ethical standards, it actively supports the implementation of the Dutch Code of Ethics, which is based on the IESBA’s Code of Ethics for Professional Accountants.
The institute collaborates with education providers to ensure that pre-qualification education incorporates revised IESBA Code of Ethics requirements, as well as EU and national ethical requirements. The institute endeavors to ensure that the various quality assurance and review programs promote compliance with ethical standards, and uses the results to design and tailor continuing professional development (CPD) courses that address areas of weakness for members and review teams. The Royal NBA also requires mandatory CPD courses for members on ethics-related topics.
The Royal NBA keeps members informed about ethical requirements, current and new, by making relevant standards and guidance available on its website, and by offering various learning opportunities to raise members’ awareness of relevant requirements. The institute participates in the international standard-setting process by providing comments on IESBA Exposure Drafts and continues to support ongoing convergence with the revised IESBA Code of Ethics.
The Royal NBA does not have responsibility for adoption or implementation of public sector accounting standards. It promotes the adoption of IPSASs (cash- and accrual-based) in policy discussions with parliament and ministries. The institute also participates in a Public Sector Working Group comprising key stakeholders that encourage adoption of/convergence with IPSASs, and it initiates and participates in various international forums on the topic.
The Royal NBA provides information on new and revised IPSASs to its members who work in the public sector. The Royal NBA also participates in the international standard-setting process by providing comments on the Exposure Drafts issued by the IPSASB.
The Royal NBA supports the Disciplinary Court in the city of Zwolle, which is responsible for implementing the investigative and disciplinary (I&D) system for Registered Accountants (Registeraccountants) and Accounting Consultants (Accountant Adminstratieconsullent), through its monitoring activities. It contributes to the various processes by initiating investigations based on findings from the Quality Assurance Review Program and forwarding cases to the Court where it is appropriate to do so.
The Royal NBA ensures that all members have access to adequate continuing professional development courses on current regulations and the I&D systems and processes. The institute also raises awareness of the system through the publication of cases and verdicts in various newsletters on its website.
The Royal NBA collaborates with relevant stakeholders to review the impact of new laws, regulations, and standards on the I&D system and on compliance with SMO 6 requirements.
The Royal NBA has no responsibility for the adoption of private sector accounting standards, but supports the implementation of EU-endorsed IFRSs for public interest entities (PIEs).
The institute helps to keep members who provide services to PIEs updated on current, new, and revised IFRSs, and delivers mandatory continuing professional development courses that cover IFRSs.
The Royal NBA participates extensively in the international standard-setting process to support the convergence of EU private sector accounting standards with IFRSs and IFRS for SMEs through its participation in the IASB, European Commission Committees, the European Financial Reporting and Advisory Group, and the Fédération des Experts Comptables Européens. The institute also provides comments on IASB Exposure Drafts.
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.