De Brauw Blackstone Westbroek is a leading international law firm, trusted by clients for over 150 years due to its deep engagement with their businesses and a clear understanding of their ambitions. While rooted in Dutch society, the firm offers global coverage through its network of top-tier law firms, ensuring seamless, tailored legal solutions. De Brauw’s independence enables it to choose the best partners while remaining a trusted, strategic advisor to clients worldwide.
The firm emphasizes long-term investment in both its client relationships and its people. De Brauw’s legal training institutes, De Brauwerij and The Brewery, cultivate diverse talent, preparing the next generation of top-tier lawyers through rigorous training and personal development. Senior leadership traditionally rises from within, maintaining the firm’s high standards and collaborative culture.
As of 1 January 2017, the duties of audit committees at listed companies in the Netherlands have been extended following implementation of the European Audit Directive and Audit Regulation.
As of 1 January 2017, the duties of audit committees at listed
companies in the Netherlands have been extended following
implementation of the European Audit Directive and Audit
Regulation. There are also new requirements on the composition of
these audit committees. A majority of the audit committee members,
including the chairman, must now be independent. The chairman is
appointed by the supervisory board, or by the committee members.
The committee members must collectively possess the required
expertise relevant to the sector in which the company operates.
Extended duties of the committee include informing the board on the
outcome of the statutory audit and explaining how the audit
contributed to the integrity of financial reporting and what the
role of the committee was in that process. The audit committee is
also responsible for drawing up the selection process for the
statutory auditor or audit firm.
Below are links to the Dutch implementing decree (in Dutch
only) and to the European directive and
regulation.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
