Dutch pension funds are increasingly investing their assets in foreign investment funds. Whereas their holdings in Dutch investment fund units have been declining for some time, an increasing share of their assets is being allocated to foreign, especially European, investment funds.Read more
Declaration of incompetence of external auditor or actuary
Published: 23 December 2022
In exercising prudential supervision, we use the reports submitted by supervised institutions. These reports are accompanied by statements from the external auditor and the actuary, who generally have detailed knowledge of the supervised institution. As part of their background, they have knowledge about and experience with forming an opinion of the supervised institution. Accordingly, their expertise and reliability are of great importance to us.
Declaration of incompetence
If an external auditor or actuary cannot or no longer provide the necessary guarantees that they will be able to properly perform their task with regard to the pension fund or financial institution, we may decide that the external auditor or actuary in question is no longer competent to issue the statements referred to in the Pensions Act and the Financial Supervision Act with regard to the supervised institution, for example because of the increasing size and complexity of the institution. In that case, we may impose a prohibition on the external auditor or actuary to issue such a statement regarding the supervised institution. A declaration of incompetence always applies to an individual external auditor or actuary and not to partnerships of external auditors or actuaries.
Following four quarters of declining assets, the assets under management of Dutch pension funds increased again in the first quarter of 2023. This increase can mainly be ascribed to price gains, especially of equities.Read more
DNB has conducted a series of examinations to assess financial institutions’ compliance with sanctions regulations and, more specifically, whether their compliance operations are fit for purpose. We are happy to share the results of these investigations.Read more
Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.Read more