Declaration of incompetence of external auditor or actuary

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In exercising prudential supervision, we use the reports submitted by supervised institutions. These reports are accompanied by statements from the external auditor and the actuary, who generally have detailed knowledge of the supervised institution. As part of their background, they have knowledge about and experience with forming an opinion of the supervised institution. Accordingly, their expertise and reliability are of great importance to us.

Published: 23 December 2022

Declaration of incompetence

If an external auditor or actuary cannot or no longer provide the necessary guarantees that they will be able to properly perform their task with regard to the pension fund or financial institution, we may decide that the external auditor or actuary in question is no longer competent to issue the statements referred to in the Pensions Act and the Financial Supervision Act with regard to the supervised institution, for example because of the increasing size and complexity of the institution. In that case, we may impose a prohibition on the external auditor or actuary to issue such a statement regarding the supervised institution. A declaration of incompetence always applies to an individual external auditor or actuary and not to partnerships of external auditors or actuaries.

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