In the Netherlands most companies are required by law to file financial statements. Unless the company is exempted, these financial statements also ought to be audited by a registered accountant. This audit opinion concerns the truth and fairness of the financial statements.

Exempted from the mandatory audit are so-called “small” companies. A small company has a net turnover of less than € 8.8 million, a balance sheet A financial method to show how a company is doing financially.
» Meer over balance sheet balance sheet total of less than € 4.4 million and employs fewer than 50 people. Furthermore, companies who fall under the group exemption of article 2:403 Dutch Civil Code are not required to have an audit, provided that the parent company has drawn up consolidated financial statements.