Governance and Organization
The Foundation for Auditing Research (FAR), established in Amsterdam on 20 October 2015 following recommendation 5.10 of the Dutch audit profession’s improvement plans (“In the public interest”) of September 2014, aims to scientifically inform the auditing profession in its continuous development and the improvement of audit quality. In this, the focus is on relevant and rigorous academic research into audit quality drivers. The FAR provides a unique environment for cooperation between science and practice, reinforces the learning curve of the audit profession and its stakeholders, feeds audit education and offers ongoing support to the research community in the area of auditing, both within the Netherlands and at international level. The activities to be carried out by the FAR consist of three elements: opening the ‘black box’ of auditing by gathering data from the affiliated audit firms, conducting multidisciplinary and multi-method research projects based on a research agenda, and finally, knowledge dissemination to academically inform the professional development and policy making.
FAR is open to all audit practices, both large and small as well as auditors in business and government. Audit firms and departments can affiliate with FAR if they provide data access and commit to a minimum annual grant of EUR 50.000. Other parties wanting to contribute, either by providing research data or financial means, are welcome as sponsors. Such commitments are for an initial 5-year period.
The ten largest audit firms in the Netherlands provide the necessary research funds and research data for FAR. Deloitte, EY, KPMG, PwC, Baker Tilly Berk, BDO, Grant Thornton, Mazars, Accon AVM (as of 1 January 2017), and Flynth (as of 1 January 2018) have jointly committed a total of EUR 1.6 million per year.
The board of FAR consists of an independent chair, four independent academic board members, and board members representing the affiliated audit firms. In the event of a tie, the chair of the board shall have the casting vote (i.e., the independent chair and the independent academic board members jointly hold the majority of board votes, likewise do the independent chair and the board members representing the affiliated audit firms).
The board consists of the following board members:
|Drs. Bert Albers RA||Board member representing Deloitte|
|Prof. dr. Olof Bik RA||Academic board member and managing director|
|Prof. dr. Jan Bouwens||Academic board member and managing director|
|Prof. dr. Willem Buijink||Academic board member|
|Prof. drs. Egbert Eeftink RA||Board member representing KPMG|
|Drs. Peter Hopstaken RA||Board member representing Baker Tilly Berk, BDO, Grant Thornton and Mazars|
|Prof. Robert Knechel PhD||Academic board member|
|Prof. dr. Henriëtte Prast||Chair of the board|
|Nico Pul RA||Board member representing EY|
|Drs. Michael de Ridder RA||Board member representing PwC|