English

The Oversight Board

To enable the economy and society to function well as a whole, it is important that the information that companies make public regarding capital and operating result is reliable. A good many parties have an interest in this either directly or indirectly. Accountants ensure that companies present a true and fair view of their financial situation. The quality of accountancy is therefore essential to the effective functioning of society. To this end, an Oversight Board for the AA Profession (‘the Oversight Board’) was set up to monitor the quality of accounting.

The Oversight Board is an independent, statutory body which ensures that AA Accountants observe the professional standards applying to them. To prevent any trace of partiality, the Oversight Board includes members of the judiciary. In addition to this, one of the members of the Oversight Board is appointed from the public administration. With regard to professional matters, these Board members can rely on the knowledge of accountants who also have seats on the Board. Two of the five members of the Oversight Board are accountants.

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Regulatory Framework