Governance and organization

The Foundation for Auditing Research (FAR) is established following recommendation 5.10 of the Dutch audit profession’s improvement plans (“In the public interest”) of September 2014. The activities to be carried out by 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:
  • Knowledge dissemination to academically inform the professional development and policy making. All scientific research within FAR is conducted under the FAR Code of Independence.

The 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 grant of EUR 50.000 or more. 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.

Research Chair

The Foundation for Auditing Research created the chair position to further expand on fundamental scientific research in the field of auditing. Leading American researcher and professor Jere Francis has accepted the Foundation for Auditing Research (FAR) Chair in Auditing Research at Maastricht University’s School of Business and Economics for a period of four years.

Professor Jere Francis is ranked among the top ten academics to publish in leading scientific journals in the field of accountancy research. He won two awards from the American Accounting Association (AAA) for his substantial contribution to auditing research. He was also named Outstanding Audit Educator in 2013 by the AAA. Professor Francis served on the editorial boards of several leading scientific journals, including Abacus, Accounting Organizations & Society, Accounting & Finance, Auditing: A Journal of Practice & Theory, Contemporary Accounting Research, Journal of Accounting & Economics, Review of Accounting Studies, and The Accounting Review. In addition to being of scientific import, his research has been of practical significance to accountants and regulatory authorities and he has presented his research to leading international accountancy firms, the American Institute of Certified Public Accountants, the World Bank and the Public Company Accounting Oversight Board in the United States. As part of this chair position, Professor Francis will conduct scientific research on the quality of audits. He will also boost auditing education in the Netherlands with the help of several PhD students as part of this chair position.

Affiliated firms and sponsors

The eight largest audit firms in the Netherlands took the initiative to provide financial support to the foundation and to make data available for research over an initial period of five years (with an interim evaluation being held after a two-year period). Flynth joined FAR as per 1 January 2018. This again underlines that FAR is focused on profession-wide research questions, including those in small and medium sized organizations and owner managed businesses.

Current affiliated firms and sponsors:

  • Accon AVM joined FAR as per 1 January 2017 – their affiliation ended per 31-12-2020

 

  • Stichting Accountantsfonds was a valued FAR sponsor from 2016 until 31-12-2020, with an annual contribution of € 100,000 for a period of five years. The primary objective of this foundation was to subsidize the development of research and education programs.

Annual reports & regulations