15 • 17
United States
Companies traded on a
Recommendation by the
The expression of an opinion
Statements on Auditing
national stock exchange,
audit committee or a board
on the fairness with which
Standards are issued by the
companies that have over
of directors and approved by
the financial statements pre-
Auditing Standards Board,
500 shareholders and assets
the shareholders
ents fairly, in all material
the senior technical body of
of over $5 million (amounts
respects, financial position,
the AICPA designated to issue
vary depending on applica-
results of operations, and its
pronouncements on auditing
ble state laws), and certain
cash flows in conformity with
matters.
types of financial services
generally accepted account-
industries (if required to file
ing principles.
with the Securities andExchange Commission orregulated or funded by fed-eral agencies)
EuropeThe Netherlands
All public companies, private
Appointed by shareholders at
To ensure that balance sheets
NIvRA has adopted
companies, cooperative soci-
the annual meeting or by the
and accompanying notes
International Standards on
eties, and mutual guarantee
supervisory board of the
present a true and fair view
Auditing issued by IFAC. They
associations if they meet at
board of directors
of the financial position; and
have been translated to the
least two of the following
that profit and loss statements
Dutch with specific modifica-
criteria: Assets exceed 7.5
and notes give a true and fair
tions as necessary.
million guilders; net turnover
view of the results of opera-
exceeds 15 million guilders;
tions of a company for the
average number of employ-
fiscal year under review.
ees exceeds 49. All insurancecompanies and institutionsregistered under Dutch CreditSystem Supervision Act andinvestment companies underDutch Investment CompaniesSupervision Act.
Exhibit 15.2.
The Attest Function.