New policy rule for assessing the fitness of policy makers of audit firms

RegCanary interpretation

This is RegCanary analysis, not source text. Check material statements against the original publication.

The AFM's new policy rule, Beleidsregel geschiktheid Wta 2027, marks a significant expansion of suitability assessments for accounting organizations. Compliance teams at the largest non-OOB (Organisations of Public Interest) accounting firms should prepare for heightened scrutiny of policy makers' expertise, integrity, and time commitment. The rule aligns the assessment framework with the upcoming legislative change, effective 1 January 2027. In practice, firms newly in scope must update their onboarding and ongoing fit-and-proper processes, ensure board appointments meet the AFM's criteria, and maintain comprehensive documentation. For existing OOB firms, the policy reaffirms current expectations, but the wider scope means the AFM will now apply the same rigorous standards to a larger population of firms. This is a timely opportunity to review governance structures, strengthen evidence trails for suitability assessments, and close any gaps before the implementation date. Proactive preparation will reduce the risk of enforcement actions and enhance regulatory confidence. RegCanary advises affected firms to map current policy maker roles against the AFM framework, identify any deficiencies, and integrate the new requirements into their compliance monitoring schedules.

RegCanary impact assessment

RegCanary impact score: 10/10