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Financial administration & outsourcing
Entrepreneurs who outsource financial administration reduce the number of administrative tasks and consequently have more time and space to focus on growth.
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Financial insight
We help you turn financial data into valuable insights that support you in making well-founded decisions. In-depth analyses of your financial situation will help give you a better idea of where you stand and where the opportunities for growth lie, both in the short and long term.
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Financial compliance
We make sure your company complies with financial legislation and regulations, with correct financial statements, tax reports and other obligations. From our global network, we support you in managing local and international tax risks.
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Impact House by Grant Thornton
Building sustainability and social impact. That sounds good. But how do you go about it in the complex world of stakeholders, regulations and frameworks and changing demands from clients and society? How do you deal with important issues such as climate change and biodiversity loss?
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Business risk services
Minimize risk, maximize predictability, and execution Good insights help you look further ahead and adapt faster. Whether you require outsourced or co-procured internal audit services and expertise to address a specific technology, cyber or regulatory challenge, we provide a turnkey and reliable solution.
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Cyber risk services
What should I be doing first if my data has been kidnapped? Have I taken the right precautions for protecting my data or am I putting too much effort into just one of the risks? And how do I quickly detect intruders on my network? Good questions! We help you to answer these questions.
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Deal advisory
What will the net proceeds be after the sale? How do I optimise the selling price of my business or the price of one of my business activities?
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Forensic & integrity services
Do you require a fact finding investigation to help assess irregularities? Is it necessary to ascertain facts for litigation purposes?
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Valuations
Independent and objective valuations tailored for mergers, acquisitions, and legal matters.
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Auditing of annual accounts
You are answerable to others, such as shareholders and other stakeholders, with regard to your financial affairs. Financial information must therefore be reliable. What is more, you want to know how far you are progressing towards achieving your goals and what risks may apply.
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IFRS services
Financial reporting in accordance with IFRS is a complex matter. Nowadays, an increasing number of international companies are becoming aware of the rules. But how do you apply them in practice?
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ISAE & SOC Reporting
Our ISAE & SOC Reporting services provide independent and objective reports on the design, implementation and operational effectiveness of controls at service organizations.
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National tax advice
Looking for tax advice in the Netherlands? We help business owners with tailor-made tax advice: from structure and compliance to innovation and sustainability.
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International tax advice
Plan to do business abroad? Our international tax advice helps you with structure and compliance, as well as offering new opportunities. Strategic, practical, and future-oriented.
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Private wealth services
Our Private Wealth specialists offer strategic and practical solutions. From tax advice to estate planning and financial scenarios, we make sure you make the right choices today, for tomorrow.
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Corporate Law
From the general terms and conditions to the legal strategy, these matters need to be watertight. This provides assurance, and therefore peace of mind and room for growth. We will be pro-active and pragmatic in thinking along with you. We always like to look ahead and go the extra mile.
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Employment Law
What obligations do you have with an employee on sick leave? How do you go about a reorganisation? As an entrepreneur, you want clear answers and practical solutions to your employment law questions. At Grant Thornton, we are there for you with clear advice, from contracts and terms of employment to complex matters such as dismissal or reorganisation.
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Sustainable legal
At Grant Thornton, we help companies integrate sustainability into their business operations, with sustainable legal at the heart of our approach. We advise on ESG (Environmental, Social, Governance) legislation, and help draft sustainable contracts, implement HR policies, and carry out ESG due diligence in M&A transactions (Mergers and Acquisitions).
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HR Services
HR is not an aspect of secondary relevance, rather a strategic factor for success. Yet many organisations struggle with issues regarding personnel policy, absenteeism, terms of employment and legislation and regulations.
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Payroll & wage tax
Payment of salaries is not a simple calculation. Laws and regulations constantly change, and mistakes can quickly cause employees to be dissatisfied or lead to tax risks.
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Compensation and benefits
The labour market is changing rapidly. Employees want flexibility, a sense of purpose and a good mixture of financial and non-financial benefits.
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Pension advisory services
Pension is more than an obligation. It is a strategic term of employment that touches upon your employer brand, financial scope and responsibility to provide for your employees.
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Global mobility services
How can you build and evolve a smart global mobility strategy, with policies and processes addressing the complex challenges of managing an international workforce?

Internal Audit – Your Obligations
The DNB requires payment service providers to have an independent Internal Audit function, separated from management. This unit assesses the effectiveness of the company’s organisation, procedures and measures. This function:
- Conducts internal audits at least annually;
- Operates internally and independently from the management;
- Operates internally and independently of control measures in operational processes
- Assesses evolving risks and changing external and internal circumstances (e.g., regulatory changes, new products and services);
- Identifies and addresses any identified shortcomings, which are then corrected in collaboration with management;
The IA function can either be performed in-house (i.e. you build an Internal Audit team to perform audits) or outsourced (i.e. staffed entirely by a third-party provider). For newly licensed institutions, outsourcing is often favoured as it provides access to more experienced auditors and allows you to set up IA correctly from day one, without the added cost of dedicated employees.
The minimum requirements for the Internal Audit Function to have in place are an Engagement Letter, an IA Charter and an IA Plan for the upcoming years.
1. Engagement Letter
The engagement letter (a document between the company and the Internal Audit service provider) describes the general objectives and scope of the engagement, the auditors in charge, the timeframe of the audit service, roles and responsibilities, and reporting obligations.
2. IA Charter
The IA Charter is a document in which the IA defines, at the minimum:
- The purpose of IA and its mandate
- The reporting lines to the company Management Board (Raad van Bestuur) and Supervisory Board (Raad van Commissarissen)
- The responsibilities of Internal Audit
- The identity of the Chief Internal Auditor (CIA) who is overseeing the IA function
- A high-level view of the IA processes and reporting to the Board
- The responsibilities of the Company Board and Supervisory Board in relation to the IA function
The IA Charter needs to be approved by the Company Board of Directors. It is reviewed at least annually, or whenever major changes in the governance and reporting lines of IA occur. All changes must be approved by the Company's Board
3. IA Plan
The IA plan is a document prepared by Internal Audit which includes the internal audit topics which need to be audited during an audit cycle (3 years normally). It aligns with the company’s strategy, objectives, and compliance requirements.
As an example, the IA Plan could cover:
- Compliance/legal risks (e.g. AML, GDPR, PSD2)
- Major risks of the organisation, including but not limited to:
- Governance risks (conflicts of interest);
- Outsourcing risks;
- IT risks;
- Financial (e.g. fraud) and accounting risks;
The audit plan is discussed with senior management and the Board of Directors, who approve it before the audit delivery. Just as for the IA Charter, any major changes to the approved plan need to be re-approved by the Board of Directors.
For small institutions in a set-up process, starting with 1 to 3 audits per year, maximum. The IA activity will increase as the company is growing and scaling up, eventually performing one audit a quarter and possibly more, depending on the size of the company.
Internal Audit Execution
Once the Engagement Letter, IA Plan and IA Charter are approved by both parties, Internal Audit can start delivering the audits on the audit plan. Here is what you can expect:
- Pre-audit planning: IA provides an internal audit planning memo defining the scope, approach, and timing of the audit It also includes the IA team and identifies the audit actors within the organisation. This document is discussed and shared with the senior sponsor of the audit for approval.
- Fieldwork and Testing (Execution Phase): A fieldwork program is developed by the IA function. During the audit, internal controls are tested, and data and pieces of evidence are collected to assess the risk areas previously defined in the audit plan and identify gaps and improvements.
- Final audit report: all findings identified during the audit are presented to the senior management and the company board of directors in the form of a report. It contains findings, ranked by severity, and their corrective actions. Recommendations are discussed with management with deadlines and need to be discussed and agreed upon with action plans. The Board must ensure that risks are addressed on time.
- Periodically, the Chief Internal Auditor presents to the Board of Directors findings themes and trends. IA is an ongoing process, with regular follow-ups.
Outsourcing your Internal Audit function to Grant Thornton Netherlands gives you:
- Immediate e access to internal audit expertise, knowledge and know-how
- Access to specific expertise, like AML, outsourcing governance, baking and payment institution regulation demands, etc.
- Ability to benchmark and share best practices from across the sector
- Access to a global network, if needed.
- The opportunity to ensure proportionality in the internal audit work, by ensuring the internal audit work is proportional to the size and risk appetite of the institution; which means you do not have the internal auditors on your payroll, but they will come in to deliver the work required, when required.
More information on how we can help you establish the Internal Audit function that is fit for your organisation?
Reach out to us and we will be happy to help you.