Accounting controls

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

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)

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)


Abbreviation for Administrative Organization and Internal Control and relates to the functioning of business processes necessary for reaching the objectives of the organization and ensuring reliable (accountability) information is available. (administratieve organisatie/interne controle)


Conducting an official examination of an individual’s or organization’s accounts.  

Audit Opinion

Statement of the auditor about the financial statements based on findings of an audit. (oordeel van accountant)

Audit report

Report made by the auditor at the completion of the audit work or research. (onderzoeksrapport)


A financial plan for a defined period, often once a year. (begroting)

Budget over- and underages

Overages are expenditures and investments that are higher than estimated. Under-budget refers to expenditure or investment that is less than budget, or income higher than estimated. (over- en onderschrijding van begroting)  

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