The AFM Financial Reporting & Accountancy Committee met for the first time in its new composition on 25 October 2012. As the supervision of financial reporting and the supervision of accountancy organisations both focus on improving the quality of financial reporting, it was decided to broaden the existing Financial Reporting Committee to include the accountancy field of expertise. Moreover, the AFM is pleased with the fact that five new members with sound expertise in both fields of expertise have joined the Committee.
The committee contributes to a broader formation of opinion within the AFM concerning the supervision of financial reporting and accountancy organisations, in particular with regard to policy-related aspects. The Committee is chaired by Gerben Everts, director of the AFM.
The AFM attaches great importance to a sound dialogue concerning important topics of debate within the fields of expertise in which it is active. It is precisely the specific expertise of experts in the field of financial reporting and accountancy that is considered as particularly valuable in enabling the AFM to function optimally as a supervisor.
Both areas of supervision contribute to the necessary improvement of the quality of financial reporting. This means that often the same interested parties are involved in these fields of expertise. Broadening the composition of the Committee to include these related subjects will lead to a broader view of the financial reporting and accountancy field of supervision.
Composition of the Committee
When composing the new Committee, the expansion of the scope was taken into account. Seven members of the Committee stepped down following their maximum term in office of six years. The AFM is very grateful to them for their structural contribution to the supervision carried out by the AFM.
Five new members took office on 25 October 2012. Three members in office will remain members of the Committee. As of today, the Financial Reporting & Accountancy Committee consists of the following members:
- Mr R. Abma, MSc (director Eumedion)
- Mr M.W. Josephus Jitta, LL.M. (Partner at Stibbe law firm)
- Dr. N. Kamp-Roelands, Ph.D., RA (Executive Director/ Cleantech and Sustainability Services (Ernst & Young Accountants)
- Prof. S.G. van der Lecq, Ph.D. (professor in pension markets at the Erasmus School of Economics)
- Prof. M. Pheijffer, LL.M., Ph.D. RA, professor of Accountancy (Nyenrode Business Universiteit) and professor of Forensic Accountancy (Leiden University)
- Mr R.A.H. Smittenberg, RA (Partner and Professional Practice Director Audit of Deloitte Accountants, chairman of the auditors delegation of the Dutch Accounting Standards Board)
- Mr J.S.T. Tiemstra, MSc, RA (former CFO of Hagemeyer N.V.)
- Mr P.F.J. Veuger, MSc, RA, MCT (Partner Accounting and Valuation Advisory Services PwC).
The AFM is committed to promoting fair and transparent financial markets.
As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.