According to the accounting requirements for
all limited companies in the Netherlands
, public limited (NV) and private limited (BV) companies that is, must organize their financial statements. These companies have to file a copy of the accounts with the Trade Register of the Chamber of Commerce in the Netherlands. Our accounting firm in the Netherlands
can offer more details on this matter.
The financial statements
have to include information on balance sheets, profit and loss accounts and notes to the accounts.
The accounting rules for Dutch limited companies
Even though the Dutch GAAP are different from the International Financing Reporting Standards (IFRS), it is permanently updated according to the IFRS latest rulings.
The accounting principles in the Netherlands
require for the financial information to be relevant, comprehensible, trustworthy and comparable. The accounting principles have to be put in the financial statements. After being effected, these principles can be changed only based on a valid reason. The legislation in this country
establishes specific valuation and disclosure requests that have to be complied with.
The currency for reporting is the Euro, even though in certain cases a Dutch company can report in another currency.
Audit requirements for limited companies in the Netherlands
The audit requirements for limited companies in the Netherlands
can differ depending on the size of the business. A limited company in the Netherlands can be categorized as micro, small, medium or large based on the following criteria:
• The balance sheet asset value;
• The net turnover;
• Number of workers.
Only medium and large limited companies in the Netherlands must have their yearly reports audited by an independent, professional and registered local auditor. In such a case, the auditor’s report has to include certain significant aspects. Our accountants in the Netherlands
can provide more information on what these aspects consist of.
If you wish to know more about the accounting and audit requirements for limited companies in the Netherlands
, we invite you to get in touch
with our Dutch accountants