Forensic accounting in the Netherlands is an accounting area focused on identifying economic and financial crimes. These are mostly frauds that are subject to criminal or civil action performance. Forensic accountants can operate in both public and private sectors, which include the Dutch police and the FIOD large financial institutions, and specialized consulting firms.
Below, our Dutch accountants present some of the available forensic accounting services we can provide to our clients.
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Types of forensic accounting investigations in the Netherlands
Forensic accounting can be used in a wide range of legal matters that involve companies and individuals. Among them, we present the following:
- financial fraud;
- theft that involves outsiders who steal from companies or their clients, as well as inside theft;
- insurance fraud;
- bankruptcy and insolvency;
- financial damages;
- tax evasion;
- mergers and acquisitions;
- corporate valuation;
- economic disputes;
- accounting negligence;
- money laundering;
- divorce proceeding and division of assets, in the case of natural persons.
Our accounting firm in the Netherlands is at the service of both private and corporate clients who want to investigate various financial matters that do not seem in order.
Who can provide forensic accounting services in the Netherlands?
There are no specific qualifications to hold when offering forensic accounting solutions, as such any accountant who is a CPA (Certified Public Accountant) can render such services. In the Netherlands, this profession is acknowledged by the Dutch Professional Organization of Accountants (NBA). It also accredits auditors in the Netherlands.
Apart from accountants, financial analysts and planners, risk managers, and even alternative investment analysts can provide forensic services in accordance with their specialization. They can be called into court to offer their expert opinion or carry out investigations on behalf of clients.
Our accountants and auditors in the Netherlands are also members of the professional body mentioned above.
Forensic evidence in accounting
One of the most common terms associated with forensic accounting not only in the Netherlands but also in other countries, is forensic evidence. It encompasses all the documents gathered during an investigation and used to prove a case. It can be used in trials or just by the client, in accordance with the case.
Forensic evidence can imply various official documents, as well as other papers that can be used to sustain a claim. Financial and bank statements, invoices, and payslips are just some of the paperwork used in forensic accounting in the Netherlands.
Legislation governing forensic accounting in the Netherlands
The jurisprudence of the Disciplinary Board and the Board of Appeals for business in the Netherlands is incorporated in the Directive on person-specific audits, which NIVRA promulgated in the year 2003. According to this directive, forensic accounting in the Netherlands (audit) must be provided in the reporting and refrain from qualifying judgments about the actions of a person or company. In this sense, the person (or company) must be offered the opportunity to respond to the findings of the draft report in a reasonable time, and no draft report can be released before all research work has been completed. Further, the auditor should agree with the client that the latter will not be provided reports to others or quotes from those reports without the consent of the auditor.
Independent forensic accounting work in the Netherlands, including fraud investigations, is among the professional work of an auditor and thus falls under the scope of the Act on Prevention of Money Laundering and Financing of Terrorism (Wwft). With effect from 1 January 2013, certain provisions of the Wwft have been adjusted. Some have outlined certain modifications related to the reporting obligation that is incurred in the work of a forensic accountant and provide special rigors in the accounting procedure, regardless of the type of activity: compiling, reviewing, or auditing the financial statements.
In dispute resolution within the organization or between organizations, but also in the event of bankruptcy or serving curators, a forensic accountant can perform actions for identifying the financial and legal facts and circumstances inquired and usually acts as a court expert.
In case of suspected irregularities, such as conflict of interest, fraud, or corruption, forensic accounting in the Netherlands is the best solution for finding out the truth in the administrative and IT environment.
Forensic accounting in the Netherlands is also recommended in case of conflicts with supervisors or with the tax authorities, as specialized research can find irregularities in financial statements.
How many accountants are registered in the Netherlands?
If you need forensic accounting services, you can rely on our Dutch accountants who are registered with the NBA alongside:
- other 15,500 qualified professionals;
- 6,200 accountant-administration consultants;
- 4,815 registered controllers.
Our specialists are at your disposal with a wide range of dedicated solutions among which payroll services in the Netherlands. Moreover, our accounting firms in the Netherlands will carry out any specific tasks in cooperation with specially trained accounting staff in other related fields.
For further information on forensic accounting in the Netherlands, contact our Amsterdam accountants, who are representatives with a long track record registered in the National Register of Court Experts.