The Netherlands’ two accounting
institutes have cleared the final hurdle in their bid to merge
following “overwhelming” approval by the group’s members. The new
organisation will be known as the Dutch Association of
Members of the Royal Dutch Institute of
Accountants (Koninklijk Nederlands Instituut van
Registeraccountants – NIVRA) and Nederlandse Orde van
Accountants-Administratieconsulenten (NOvAA) agreed to the merger
during simultaneous meetings in Amsterdam and Utrecht.
The two bodies will now consult with the
Ministry of Finance to establish the new entity. There are
currently separate laws for each institute, so amendments must be
made to allow the formation of the new organisation.
The merger process has been ongoing since
November 2008, when NIVRA and NOvAA signed an initial agreement to
merge. This followed a failed attempt in 1999.
A poll of more than 7,500 members before the
merger meetings found more than 70 percent of respondents were
positive about the merger. The two institutes will combine in
mid-2010 and be headquartered in Amsterdam.