More information about the trustworthiness assessment
The AFM assesses the trustworthiness of all prospective policymakers and co-policymakers at audit firms. To this end, we apply the statutory provisions of the Policy Rule governing this trustworthiness assessment. We base the assessment on the data provided by the audit firm, as well as on external sources, such as police files, the Dutch insolvency register and information from the Dutch Tax and Customs Administration, to check for any background information that is relevant to the person’s trustworthiness.
Assessment in the case of a licence application, new appointment or new information
We assess the trustworthiness of policymakers and co-policymakers when an audit firm applies for a licence or wishes to appoint a new policymaker or co-policymaker, or when a reassessment of a policymaker or co-policymaker is required due to the emergence of new details or new background information.
Assessment takes six to eight weeks
When an audit firm is not licensed yet, the trustworthiness assessment of a prospective policymaker or co-policymaker takes a maximum of eight weeks. When an audit firm already has a licence, the assessment generally takes six weeks. We provide both the audit firm and the assessed person with the outcome of the assessment.
Process in case of doubts about trustworthiness
If the AFM has reason to doubt a person’s trustworthiness, we will explain on what basis we have reached this provisional assessment. The audit firm and the assessed person will then have the opportunity to respond to this. If their response does not dispel our doubts, the AFM will decide that the assessed person’s trustworthiness is not beyond doubt. An objection to this decision can be submitted with the AFM. If the AFM rejects this objection, an appeal can be filed with the competent court.
Withdrawal of a rejected person
If the AFM assesses that a person’s trustworthiness is not beyond doubt, this person may not serve as a policymaker or co-policymaker at an audit firm. The audit firm must then withdraw this person as a candidate and may subsequently notify the AFM of another candidate for this position.
Negative outcome following reassessment
In the event of changes to facts and circumstances, we may reassess the trustworthiness of a current policymaker or co-policymaker. If we conclude on the basis of this reassessment that the person’s trustworthiness is no longer beyond doubt, this person may no longer serve as a policymaker or co-policymaker at the audit firm. The audit firm must then remove the person from their current position. The person may then still perform other duties at the audit firm but may not serve in any policymaking or co-policymaking role. Any return to such a role will only be possible if a new assessment determines that the person’s trustworthiness is beyond doubt.