Audits are compulsory for large and medium-sized legal entities. Small legal entities are exempt. Small legal entities are entities that satisfy two of the following three criteria for two consecutive years: total assets of less than €4.4 million, turnover of less than €8.8 million, a workforce of less than 50.
Baker Tilly Berk is licensed by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten) to perform statutory audits of financial statements, and also carries out inspections of other financial and non-financial accountabilities. These activities are carried out in accordance with the International Standards on Auditing, as also largely adopted in the Dutch Auditing and Additional Standards (Nederlandse Controle- en overige Standaarden).
Compilation of financial statements
Dutch accounting requirements are only compulsory for legal entities. The law requires that disclosure in the annual accounts be sufficient to form a reasonable opinion about an entity's financial position and results, which must be presented in a fair, clear and consistent manner.
We can compile your financial statements in accordance with the statutory requirements, as verified by an appended compilation report. This report provides the recipient with the assurance that the statements have been compiled by an accountant with due care and in compliance with the applicable laws and regulations.
Should you wish, we can take care of all financial administration for your business, including periodic VAT returns.
You can also turn to us to take payroll accounting out of your hands. Our salary accounts managers will ensure that your business complies with all the applicable statutory requirements.