AFM | Dutch Authority for the Financial Markets (in Dutch: Autoriteit Financiële Markten) |
AI | Artificial intelligence |
AQC | Assurance Quality Committee (Supervisory Board) |
AQIC | Audit Quality Improvement Council (internal) |
AQI | Audit quality indicator |
ARC | Audit & Risk Committee (Supervisory Board) |
BoM | Board of Management |
Bta | Dutch Audit Firms Supervision Decree (in Dutch: Besluit toezicht accountantsorganisaties) |
CEAOB | Committee of European Auditing Oversight Bodies |
CEO | Chief Executive Officer |
CFO | Chief Financial Officer |
COO | Chief Operating Officer |
CSRD | Corporate Sustainability Reporting Directive |
CTA | Commission on the Future of Accountancy |
DANI | Digital Assurance & Innovation division |
DPP | Department of Professional Practice (internal) |
EQC | Engagement quality control |
EQCR | Engagement Quality Control Review(er) |
ERM | Enterprise Risk Management |
ESG | Environment, social and governance |
EU | European Union |
EUR | Euro |
FTE | Full-time equivalent |
GDP | Gross Domestic Product |
GDPR | EU General Data Protection Regulation |
GPS | Global People Survey |
GRI | Global Reporting Initiative |
HR | Human resources |
IAASB | International Auditing and Assurance Standards Board |
IEA | International Energy Agency |
IESBA | International Ethics Standard Board for Accountants |
IFIAR | International Forum of Independent Audit Regulators |
IFRS | International Financial Reporting Standards |
IIRC | International Integrated Reporting Council |
IR | Integrated Reporting |
ISQC 1 | International Standard on Quality Control 1 (quality management standard for firms performing audits on financial statements or other assurance) |
ISQM 1 | International Standard on Quality Management 1 |
KCw | KPMG Clara workflow |
KPI | Key performance indicator |
MCA | Committee on Accountancy Monitoring |
MFR | Mandatory Firm Rotation |
NA | Not applicable |
NBA | The Royal Netherlands Institute of Chartered Accountants (in Dutch: De Koninklijke Nederlandse Beroeporganisatie van Accountants) |
NGO | Non-governmental organisation |
Non-PIE | Non-Public Interest Entity according to Dutch law (equivalent, in the Netherlands, to OOB, Organisaties van Openbaar Belang according to Dutch law) |
NOW | Dutch government’s temporary Emergency Bridging Measure for Sustained Employment (in Dutch, Tijdelijke Noodmaatregel Overbrugging voor Werkbehoud) |
NPS | Net Promoter Score |
OOB | Organisatie van Openbaar Belang |
PCAOB | Public Company Accounting Oversight Board (US) |
PIE | Public Interest Entity according to Dutch law (equivalent, in the Netherlands, to OOB, Organisaties van Openbaar Belang according to Dutch law) |
QPR | Quality performance review (internal review to ensure engagement comply with relevant professional standards) |
QRMG | Quality & Risk Management Group (internal) |
RAC | Remuneration & Appointment Committee (Supervisory Board) |
SASB | Sustainability Accounting Standards Board |
SDG | UN Sustainable Development Goals |
VCM | Value creation model |
ViO | Verordening inzake de onafhankelijkheid van accountants bij assurance opdrachten – or Regulation concerning the independence of accountants in assurance engagements |
VNO-NCW | Dutch employers’ federation (product of merger between the former Verbond van Nederlandse Ondernemingen (VNO) and the Nederlands Christelijk Werkgeversverbond (CNW) |
VRF | Value Reporting Foundation |
Wta | Dutch Audit Firms Supervision Act (in Dutch: Wet toezicht accountantsorganisatie) |
WAB | Dutch Auditors’ Profession Act (in Dutch: Wet op het accountantsberoep) |