| NBA | VRC | |
|---|---|---|
| Membership | Mandatory | Mandatory |
| No. of members | 21,700 | 4,815 |
| Institute staff | 114 fte | 7.5 fte |
| Date of establishment | Merger in 2012 (former Royal NIVRA1895; NOvAA 1948) | 1988 |
| Local branches | 1 | 1 |
| Subject to public oversight | Yes | No |
| Public oversight authority | Authority for Financial Markets (AFM) | N/A |
| Involvement in Qualification and Market Access | NBA | VRC |
|---|---|---|
| Initial education | Yes | Yes |
| Examination | Yes | Yes |
| Approval and registration | No (AFM) | Yes |
| Continued Professional Development | Yes | Yes |
| Activities | NBA | VRC |
|---|---|---|
| Standard setting | Yes (approval of standards by the Ministry of Finance) | Yes |
| Quality assurance | Some delegation for non-PIEs (otherwise AFM) | Yes |
| Disciplinary measures | No (audit firms: AFM, individuals: Disciplinary Court for Auditors | Yes |
| Professions | Chartered Accountant (Registeraccountant (RA)) | Accountant – Administration consultant (Accountant -Administratieconsulent (AA)) | Registered Controller (RC) |
|---|---|---|---|
| Professional body | NBA | NBA | VRC |
| Protected title | Yes (including the use of the title accountant) | Yes (including the use of the title accountant) | Yes |
| Reserved activities | Statutory audit and other activities regarding the issuance of (financial) statements | Statutory audit and other activities regarding the issuance of (financial) statements | No |
| Included authorisations | Comprises the authorisation to provide (advisory) services on taxation, valuation, financial and business management | Comprises the authorisation to provide (advisory) services on taxation, valuation, financial and business management | No |
| Chartered Accountant | Accountant – Administration consultant | Registered Controller | |
|---|---|---|---|
| Regulated profession | Yes | Yes | No |
| Supervision | Yes | Yes | No |
| Public oversight authority | The Netherlands Authority for the Financial Markets (AFM) Disciplinary Court for Auditors | The Netherlands Authority for the Financial Markets (AFM) Disciplinary Court for Auditors | VRC Disciplinary Board |
| Chartered Accountant | Accountant – Administration consultant | Registered Controller | |
|---|---|---|---|
| General initial education steps (without possible exemptions) | • University master’s degree • 1or 2 year(s) part-time professional post-master programme • 3 years practical training Final examination | • University bachelor’s degree • 1.5 years part-time professional post-bachelor programme • 3 years practical training Final examination | • University master’s degree • 2 years of practical experience • Examination which is part of the scientific master and of the post-master qualification |
| Chartered Accountant | Accountant – Administration consultant | Registered Controller | |
|---|---|---|---|
| No. of qualified professionals | 15,500 | 6,200 | 4,815 |
| No. of new trainees per year | 700 | 200 | N/A |
| No. of people taking the professional examination | 750 | 200 | N/A |
| No. of people passing the professional examination | 600 | 150 | N/A |
| Chartered Accountant | Accountant – Administration consultant | Registered Controller | |
|---|---|---|---|
| Registration required | Yes | Yes | Yes |
| Competent authority for registration | NBA | NBA | VRC |
| Cost of appointment/ registration | €279 | €279 | €275 |
| Oath required | Yes, since 2017 | Yes, since 2017 | No |
| Insurance required | Yes | Yes | No |
| Professional address required | No | No | No |