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International Visitors

• The Dutch Accounting Standard Board
• The Foundation for Annual reporting (Dutch Accounting Standards Board Foundation) 
• Accounting Standards in the Netherlands 
• The Dutch Accounting Standards 

The Dutch Accounting Standard Board
The main task of the Dutch Accounting Standards Board (DASB) is to develop Accounting Standards to be used in The Netherlands. The DASB also prepares comment letters to all Exposure Drafts and Discussion Papers of EFRAG and IASB, attends EFRAG CFFS meetings and provides members for some EFRAG and IASB working groups. The activities of the Dutch Accounting Standards Board (DASB), until July 2005 known as the Council for Annual Reporting (CAR), are a continuation of those of the Tripartite Consultative Body (TCB). TCB was active from 1971 to 1981.

Due the introduction and use of IFRS in the Netherlands (see: Accounting Standards in the Netherlands), an up to date English version of the Dutch Accounting Standards is no longer available.

For our commentletters to EFRAG and IASB (in English), please see:
- Comment letters to EFRAG and IASB

The DASB is made up of representatives of (1) the preparers, (2) the users and (3) the auditors of financial reports of companies. Each constituent group consists of four members and one (facultative) constituent group staff member. The members of the DASB are appointed by the Executive Board of the Foundation for Annual Reporting. The independent chairman of the DASB is also appointed by the Executive Board of the Foundation. He heads the meetings of the DASB. The meetings are also attended by representatives from the Ministry of Justice and the Authority Financial Markets (the Dutch supervisor of the savings, lending, investment and insurance markets) who are not entitled to vote on Board decisions. Decisions in the Board can only be taken if all board members agree. Therefore, the DASB is a typical Dutch ‘poldermodel'.

DASB meetings are not open to public observation, nor are its minutes.

The DASB is staffed by a secretarial body comprising of three people; a secretary for general matters, a technical project manager and an assistant secretary. The Board meets at least once every month, or otherwise as often as the Chairman, (two members of) the DASB or the Foundation requests.

The DASB is comprised as follows:

• Chairman
• -    H. de Munnik RA

Members

• Preparers' delegation
• -    A.P. den Butter RA RO CIA (chairman delegation)
• -    H.C. van den Ende AA FB
• -    W. Poldervaart MIM
• -    mr. T. van Wijngaarden
• -    drs. M.W. Noordzij (staff member)
• Users' delegation
• -    C. Offerman RA (chairman delegation)
• -    drs. M.V.C.H. Hameleers
• -    prof. dr. H.F.D. Hassink RA
• -    drs. W. Heineken RBA
• -    drs. G.W.H. Ewalts RA RC (staff member)
• Auditors' delegation
• -    R.A.H. Smittenberg RA  (chairman delegation)
• -    mr. drs. J.B. Backhuijs RA 
• -    drs. G.M. van Santen RA
• -    H.A. Woudstra AA
• -    H.W. Verhoek RA (staff member)
• Minutes
• -    H. Strating RA
• Representatives
• -    ms. mr. drs. N. Hagemans (Ministry of Justice)
• -    A.W.J. Meershoek RA RC (Authority Financial Markets)
• Secretariat
• -    drs. C. van Capelle RA (technical issues)
• -    ms. drs. A. de Korne (general matters)
• -    Y. Çaliskan (assistant)

The Foundation for Annual reporting (Dutch Accounting Standards Board Foundation) 

The Foundation for Annual Reporting coordinates the activities of the Dutch Accounting Standards Board (DASB). The Foundation for Annual Reporting also ensures adequate funding of the DASB.
The Foundation for Annual Reporting was formed by the following organisations in September 1981:

• Federation of Netherlands Industry (VNO; Verbond van Nederlandse Ondernemingen)
• Netherlands Christian Employers' Federation (NCW; Nederlands Christelijk Werkgeversverbond)
• Federation of Netherlands Trade Unions (FNV; Federatie Nederlandse Vakbeweging)
• Christian National Federation of Trade Unions in the Netherlands (CNV; Christelijk Nationaal Vakverbond in Nederland)
• Order of the Netherlands Institute of Registeraccountants (NIVRA; Orde Nederlands Instituut van Registeraccountants)

In 2001 the Association of Investment analysts (VBA; Vereniging van Beleggingsanalisten) joined the Foundation's Board, in 2002 the Dutch Order of the Accountants-Administrator's consultants NOvAA (Nederlandse Orde van Accountants-Administratieconsulenten) and the Royal Association of Small and Medium-sized Enterprises in the Netherlands (Koninklijke Vereniging MKB-Nederland) and in 2007 Eumedion joined.

NIVRA, NovAA, Eumedion and the Social and Economic Council (SER; Sociaal-Economische Raad) contribute to the Foundation's budget. The Foundation also receives revenues from copyrights of the Dutch Accounting Standards.

The Foundation's objectives are set forth as follows in its Constitution:

1. The objective of the Foundation is to foster quality in external reporting, particularly in the annual accounts, of legal entities and other organisations in the Netherlands.
2. It seeks to achieve this objective:
   1. by publishing authoritative statements and recommendations on external reporting;
   2. by issuing opinions on external reporting requirements to the government and to other regulatory bodies, either of its own accord or in responses to requests. 

The executive board is comprised as follows:

Chairman
-    mr. B.E.M. Wientjes (VNO-NCW)

Secretary and treasurer
-    J.P.G.M. Helderman RA (NIVRA)
-    drs. B.J.G. Wammes (NIVRA, deputy)

Other members of the Board
-    J.A.M. Ausems MFC (CNV)
-    H. van Boggelen (CNV, deputy)
-    mevr. dr. K. Boonstra (FNV)
-    mr. P.J. Gortzak (FNV, deputy)
-    drs. R. Abma (Eumedion)
-    mr. drs. G.J. Everts RA (Eumedion, deputy)
-    drs. H. Haarbosch (VBA)
-    mevr. dr. I.T. van den Doel (VBA, deputy)
-    drs. F.A. van Schaik RA AA (NOvAA)
-    mevr. mr. A.M. Arkel (NOvAA, deputy)
-    drs. L.M.L.H.A. Hermans (MKB-Nederland)
-    (vacant) (MKB-Nederland, deputy)

Accounting Standards in the Netherlands

The accounting standards to be applied in the Netherlands depends on the size of the entity.

Small entities have to chooce between:

• - Book 2 of the Dutch Civil Code combined with fiscal valuations;
• - Dutch Accounting Standards for small legal entities;
• - Dutch Accounting Standards for medium sized and large legal entities; and
• - EU-IFRS combined with a part of the Dutch Accounting Standards for medium sized and large legal entities.

Medium sized and large entities have to choose between:

• - Dutch Accounting Standards for medium sized and large legal entities; and
• - EU-IFRS combined with a part of the Dutch Accounting Standards for medium sized and large legal entities.

Listed entities (independent of size) have to use EU-IFRS combined with a part of the Dutch Accounting Standards for medium sized and large legal entities.

The criteria

In order to qualify for a category, the entity has to fulfill two out of the three mentioned criteria for two successive years.

The Dutch Accounting Standards

The DASB seeks to ensure that the Dutch Accounting Standards cover most of the questions arising in practice. The Dutch Accounting Standards proceed from the statutory regulations governing consolidated and individual annual accounts and directors' reports as principally contained in Part 9, Book 2 of the Dutch Civil Code. The Accounting Standards also incorporate the rulings of the Enterprise Chamber of the Court of Appeal at Amsterdam and of the Supreme Court where these are considered of general relevance. In its deliberation for the Dutch Accounting Standards, the DASB also considers the applicable International Financial Reporting Standards as endorsed by the EU.

In this way, the DASB strives to make the standards applicable to financial reporting both manageable and accessible for preparers, users and auditors of financial reports.

The DASB uses a due process in developing the Dutch Accounting Standards. First the DASB Staff or a DASB Working group drafts a Standard. The DASB discusses the Draft Standard and, if necessary, makes some adjustments before issuing the Draft Standard for comment. Comments on these Draft Standards are studied and considered, and the drafts are revised as necessary before being finalized. In adopting this approach, the DASB takes into account the experience and views of the preparers, users and auditors of financial reports as far as possible in the preparation of the Standards.
Where statutory provisions are involved, the appropriate references are given. By making a distinction in the Standards between authoritative statements (printed bold) and recommendations, the DASB aims to reflect differences in the practical significance of the Standards. In other words, the authoritative statements printed in bold carry extra weight. The DASB does not pretend that the authoritative statements in either the draft or the final Standards are compulsory in the same way the legal requirements are. In the final analysis, it is for the Courts to decide on the merits of each case which standards are to be considered generally acceptable for a specific set of financial statements. This implies that each company bears individual responsibility for its own financial statements. The Dutch Accounting Standards and in particular the authoritative statements incorporated in them are generally conductive to providing the insight as to enable a reasonable judgment to be formed regarding the financial position and results of the company. It follows that the authoritative statements are not expected to be departed from without good reason. The DASB also believes that the recommendations and, to some extent, the Draft Standards will give support and direction to reporting practice.
Requirements regarding the content and form of the information to be included in the financial reports are constantly evolving. The DASB believes that the finalized Standards will need amending from time to time in the light of this evolution. The DASB accordingly welcomes all comments arising from the use of the Standards. These will be given due consideration and, where necessary, the Standards will be amended.

Tables of contents
Each year in September two sets of Guidelines are published in Dutch. The last English version of the Guidelines is from 1998. A more recent translation has not been published, nor is a recent translation in progress.

Click here for the table of contents on a chapter level of the Dutch Accounting Standards 2009 for large and medium-sized entities.

Click here for the table of contents on a chapter level of the Dutch Accounting Standards 2009 for small entities. The Foundation for Annual Reporting coordinates the activities of the Dutch Accounting Standards Board (DASB). The Foundation for Annual Reporting also ensures adequate funding of the DASB.
The Foundation for Annual Reporting was formed by the following organisations in September 1981: