Accounting controls

Procedures and documentation for safeguarding assets, recording financial transactions and the ensuring the reliability of financial records. (accounting controls)

Accounts Receivables (debtor’s) Administration

Also called the debtor’s ledger. When a debtor or client owes money to government that is an account receivable. The debtor’s administration provides information on which clients owes money, and of course, how much they owe.(debiteurenadministratie)

Accrual accounting

Accrual accounting or accrual-based accounting is an accounting method that records revenues and expenditures when they are incurred, regardless of when cash is received. (batenlastenstelsel)

Actuarial assumptions

Necessary when calculating the actuarial value w of a pension fund’s assets versus liabilities.  The assumptions are based on a mix of statistical studies and experienced judgment. (actuarial aannames)

Actuarial rate

The value to calculate the amount of money a pension fund needs now, in order to fully pay the future pensions of participants. In general, the actuarial rate is based on the expected risk-free yield. (rekenrente)


A professional who deals with the measurement and management of risk and uncertainty. (actuaris)

Administrative capacity review

An instrument used by an organization develop insight into the quality of its own functioning. The review indicates how tasks are performed and whether objectives were achieved. (bestuurskrachtonderzoek)

Adverse opinion

The auditor rejects the entire financial statement as it fails to meet the established requirements; the identified errors are material and significantly influence the financial statement. (afkeurende verklaring)

ALM Study

An Asset and Liability Management Study is conducted to provide insight into the relationship between expected proceeds from investments and the associated risks.  The study can be used to recommend changes that can lead to improvement of the coverage ratio.

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