International Finance and Accounting Handbook

15 • 8

Country

Title of Auditor

Source of Authority

Licensing Procedures

Training

EuropeThe Netherlands

Registeraccountant (RA),

Nederlands Instituut van

After passing either a

univer-

There is a requirement for

Accountant-

administratie-

Registeraccountants

(NivRA)

sity or AA

examination, the

continuing education—

consulent

(AA)

Nederlands Orde van

applicant must show that he

minimum of 40 hours of

Accountant-administratie

or she is

continuing professional

consulenten (NOVAA)

1. Not bankrupt

education every year.

2. Not under court guardian-ship; and3. Not under a court orderpreventing practice.

United Kingdom

Registered Auditors

Companies Acts 1985 and

A person must be registered

Must meet standards for

1989. (other legislation may

with a Recognized

membership of RSB, plus

require auditors to hold

Supervisory Body (RSB)

specific auditing require-

Registered Auditor status and

recognized under CA 1989

ments, and must carry out

to have additional experience

and must meet that RSB’s

continuing professional edu-

relevant to specific applica-

rules for carrying out audit

cation. University education

tion, e.g. financial services,

work. The RSB must have

in accounting/auditing is not

banking)

arrangements for monitoring

essential.

and enforcing compliancewith Statements of AuditingStandards (SASs).

Italy

Revisore Contabile; Auditing

Law and government;

One must be admitted to

A period of three years of prac-

Firm

Ministry of Justice; Law and

membership in the Official

tical experience tutored by a

government; Ministry of

List of Auditors (Registro dei

Revisore Contabile. A degree

Justice; National Commission

Revisori Contabili) regulated

from a five-year business sec-

of Companies and Stock

by the ministry of Justice, af-

ondary school plus a three or

Exchange (CONSOB)

ter passing a public examina-

four-year university degree.

tion held twice every year.

Continuing professional educa-

The majority of partners of

tion is not formally required;

the firm must have achieved

Training is not applicable.

the title of Revisore Contabile

However, all such auditing

and have passed an examina-

firms are subject to continu-

tion by CONSOB.

ous control by CONSOB.