Licence for statutory audits by audit firms

Does your audit firm carry out statutory audits, such as auditing the financial statements of a public company, or a public interest entity (PIE)? If so, you require a Wta licence under the Audit Firms Supervision Act (Wet toezicht accountantsorganisaties, Wta). 

Applying for a Wta licence 

You apply for a licence to the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM). There are different Wta licences, depending on the type of businesses you audit. With your application, you need to submit, among others, a description of your firm’s organisational structure and an extract of your firm’s registration in the business register. And you need to submit an overview of the permanent education credits of each policymaker in your firm. 

Requirements for your staff 

Your audit firm must comply with various professional and training requirements. Your employees must be trustworthy, expert and adequately trained, for example. They are obliged to respect confidentiality and update their knowledge through permanent education. You must safeguard your firm’s independence. 

Duty of care with regard to external auditors 

If you have a Wta licence you also have a duty of care. This means that you must make sure that any external auditor affiliated with your firm complies with the professional and training requirements. 

Register of audit firms 

The register of audit firms lists the audit organisations with a Wta licence. Every licenced firm is automatically included and is allowed to carry out statutory audits at public interest entities. Are you looking for a licenced audit firm to audit your company? You can consult the register with AFM. 

Foreign audit firms 

If you are a foreign audit firm and wish to conduct statutory audits in the Netherlands, you must have the AFM’s Wta licence. In order to be admitted to the register of audit firms you need to comply with professional and training requirements equivalent to those in the Netherlands. You must carry out the statutory audits in accordance with international auditing standards. 

Online application procedure via Message Box 

You can submit your Wta licence application also via Message Box. Message Box is a secure email system that enables you as an entrepreneur to exchange digital messages with Dutch government agencies. AFM’s Message Box can be found under the name 'Stichting Autoriteit Financiële Markten'.