US-Netherlands joint audit agreed

THE US and Netherlands have agreed to joint audit oversight, allowing them to conduct shared inspections and exchange confidential data.

US audit watchdog the PCAOB has already signed cooperative agreements with the UK, Switzerland and Norway, and chairman James R Doty called the Netherlands pact “a key step forward”.

“The Netherlands Authority for the Financial Markets has been vocal in insisting that firms improve audit quality,” said Rhonda Schnare, PCAOB director of international affairs. “[We] forward to working with the AFM in pursuit of that goal.”

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