Question 1

What does a registered accountant do?

Accepted Answer

A registered accountant carries out statutory audits of financial statements and provides an independent opinion on the accuracy of the financial reporting.

Question 2

What is the difference between an audit and a review engagement?

Accepted Answer

An audit provides reasonable assurance; a review provides limited assurance and involves less extensive procedures.

Question 3

Which organisations does NOVA Accountants work with?

Accepted Answer

NOVA Accountants specialises in educational institutions and public sector organisations, including municipalities.

Question 4

How long does a statutory audit take?

Accepted Answer

The timeline varies per organisation, but a full statutory audit typically takes several weeks to a few months, depending on complexity.

Question 5

What is an unqualified audit opinion?

Accepted Answer

An unqualified audit opinion is the auditor's conclusion that the financial statements present a true and fair view of the organisation's financial position. It is the most favourable outcome of a statutory audit.

Question 6

Is NOVA Accountants AFM-licensed?

Accepted Answer

Yes. NOVA Accountants is licensed by the Netherlands Authority for the Financial Markets (AFM) and operates under supervision of the NBA and NOREA. All auditors are registered as Certified Public Accountants (RA).

Question 7

What is the difference between a registered accountant (RA) and an accounting consultant (AA)?

Accepted Answer

A registered accountant (RA) is authorised to carry out statutory audits for organisations subject to a legal audit obligation. An accounting consultant (AA) typically performs compilation and advisory engagements for SMEs and is not authorised to conduct statutory audits.

Question 8

Which sectors does NOVA Accountants audit?

Accepted Answer

NOVA Accountants specialises in two sectors: educational institutions (primary, secondary, and higher education) and public sector organisations (municipalities, joint regulations, and other public bodies). We have in-depth knowledge of the specific regulations, reporting standards, and risks in both sectors.

Our services

What does NOVA Accountants audit?

Annual accounts audit

Review engagement

Other audit opinions

IT auditing

Frequently asked questions