Internationalisation of Dutch accounting firms

Business History

Volumn 40, Issue 2, 1998, Pages 1-21

  Sluyterman, Keetie E ^a  

^a UTRECHT UNIVERSITY   (Netherlands)

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[No Author keywords available]

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EID: 0039702847     PISSN: 00076791     EISSN: 17437938     Source Type: Journal    
DOI: 10.1080/00076799800000166     Document Type: Article

References (74)

1. G. Jones, The Evolution of International Business (London, 1996), pp.147-93.
2. J.J. Boddewyn, M.B. Halbich and A.C. Perry, 'Service Multinationals: Conceptualization, Measurement and Theory', in M. Casson (ed.), Multinational Corporations (Aldershot, 1990), pp.499-515;
3. T. van Rietbergen, J. Bosman and M. de Smidt, Internationalisering van de dienstensector. Nederlandse ondernemingen in mondiaal perspectief(Muiderberg, 1990);
4. P.K. Jagersma, Multinationalisatie van Nederlandse dienstenondernemingen (dissertation, University of Brabant, 1994).
5. C.A. Bartlett and S. Ghoshal, Transnational Management: Text, Cases, and Readings in Cross-Border Management (Homewood, IL, 1992), pp.1-3.
6. H.A. Post, Internationalisatie van professionele dienstverlening (dissertation, University of Brabant, 1995), summary in English, pp.275-84.
7. This article is mainly based on two publications in Dutch: K.E. Sluyterman, Moret 110 jaar. Van accountancy naar multiprofessionele dienstverlening (CBG, cahier-reeks 10, 1993);
8. K.E. Sluyterman, idem, 'Internationalisering van Nederlandse accountantskantoren, 1970-1990', Jaarboek voor de Geschiedenis van Bedrijf en Techniek, Vol.10 (1993), pp.242-63.
9. J.A. Fitzsimmons and M.J. Fitzsimmons, Service Management for Competitive Advantage (New York, 1994), pp.26-31.
10. In the Dutch language, the English word 'accountant' is used to refer to the auditor function. However, the bookkeeping function is covered by this word as well, making translation of the Dutch word 'accountant' into an English equivalent difficult. This article follows the example of Zeff; in most cases the word 'auditor' is used to translate the Dutch word 'accountant', even though it is recognised that it does not fully cover the many activities of the Dutch 'accountant'. From the 1960s onwards the larger Dutch 'accountantskantoren' began to include other services, such as tax consultancy and management consultancy. It seems more appropriate to label these multi-service firms with the English term 'accounting firms' than to continue using the word 'auditing firm', though auditing remained for a long time the backbone of the business. S.A. Zeff, F. van der Wel and K. Camfferman, Company Financial Reporting: A Historical and Comparative Study of the Dutch Regulatory Process (Amsterdam, 1992) pp. 13-6.
11. J.W. Buckley and P.R. O'Sullivan, 'International Economics and Multinational Accounting Firms', in J.C. Burton, The International World of Accounting - Challenges and Opportunities: Proceedings of the Arthur Young Professors Round Table (1980).
12. K. Camfferman, 'The History of Financial Reporting in the Netherlands', in Peter Walton (ed.), European Financial Reporting, A History (London, 1995), pp. 167-87.
13. NIVRA stands for 'Nederlands Instituut van Registeraccountants' (Dutch Institute of Registered Auditors).
14. S.J. Maijoor, 'Economic Effects of Accounting Regulation for Public Accountants: Evidence from the Netherlands', Accounting and Business Research, Vol.24 No.95 (1994), pp.267-76;
15. S.J. Maijoor and A. van Witteloostuijn, 'An Empirical Test of the Resource-Based Theory: Strategic Regulation in the Dutch Audit Industry', Strategic Management Journal, Vol.17 (1996), pp.549-69.
16. Camfferman, 'The History', p.67;
17. Zeff et al., Company Financial Reporting, p.352.
18. NIVA is short for Nederlands Instituut van Accountants (Dutch Institute of Auditors).
19. P.E. de Hen, J.G. Berendsen and J.W. Schoonderbeek, Hoofdstukken uit de geschiedenis van het Nederlandse accountantsberoep na 1935 (Assen, 1995), pp. 163-6.
20. The journals De Accountant and Maandblad voor Accountancy en Bedrijfshuishoudkunde (MAB) were examined.
21. B.P.A. Gales and K.E. Sluyterman, 'Outward Bound: The Rise of Dutch Multinationals', in G. Jones and H.G. Schröter (eds.), The Rise of Multinationals in Continental Europe (Aldershot, 1993), pp.65-77.
22. Annual Accounts Koninklijke Nederlandsche Petroleummaatschappij, 1910-1940;
23. Annual Accounts Nederlandsche Handelmaatschappij, 1910-1940;
24. Zeff et al., Company Financial Reporting, pp.65-6.
25. J. de Vries, Geschiedenis der Accountancy in Nederland. Aanvang en Ontplooiing, 1895-1935 (Assen/Maastricht, 1985), p.178. Also, a few Dutch auditors were established in foreign countries, but without having a practice in the Netherlands.
26. A.M. Brandenburg, 'Mee met de tijd. Dijker Van Dien: de honderd jaar die voorafgingen', in Tijd als kritische factor. Coopers & Lybrand Dijker van Dien Eeuwboek 1893-1993 (Amsterdam, 1993), pp.11-44.
27. See, for instance, Annual Accounts Borneo-Sumatra Handelmaatschappij, 1906-12;
28. Annual Accounts Philips Gloeilampenfabrieken, 1930-39.
29. Zeff et al., Company Financial Reporting, pp.86-8.
30. S. Maijoor et al., 'Long-Term Concentration in the Dutch Audit Market: The Use of Auditor Association Membership Lists in Historical Research', Abacus, Vol.31 No.2 (1995), pp.152-77.
31. G. Izeboud, 'Enkele invloeden van de internationalisatie op de dagelijkse praktijk van het grote Nederlandse accountantskantoor', MAB (Sept. 1992), pp.592-5.
32. A.J. Bindenga, Het vrije beroep van accountant (Alphen a/d Rijn/ Brussel, 1973), p.206.
33. M.R. Schweppe, Per saldo. Herinneringen aan de ontstaansgeschiedenis van Deloitte & Touche in Nederland (Rotterdam, 1995), pp.57-9.
34. F.H. Wu and D.W. Hackett, 'The Internationalization of U.S. Public Accounting Firms: An Empirical Study', International Journal of Accounting, Education and Research, Vol.12 No.2 (1977).
35. The concern about US imperialism in Europe was voiced in J.J. Servan Schreiber, Le Defi Americain (Paris 1967), a very popular book at that time.
36. M. Lafferty, Accounting in Europe (Cambridge, 1975), pp.370-76 (quotation from p.376).
37. A.F. Tempelaar, 'International Cooperation between Public Accountants and its Impact on Harmonization', MAB (1975), p.489-99, citation p.492.
38. Gales and Sluyterman, 'Outward Bound', pp.79-84.
39. H. Volten, Een jubileumboek: 75 jaar KPMG 1917-1992 (Amsterdam, 1992), pp.74-9, 90;
40. Lafferty, Accounting in Europe, pp.380-81.
41. This description of the history of Moret, Ernst & Young is mainly based on L.A.V.M. Metzemaekers and A.J. van Maastricht, Een eeuw in balans. De wordingsgeschiedenis van Moret & Limperg, 1833-1983 (Rotterdam, 1983) and
42. Sluyterman, Moret 110 jaar.
43. L.F.G. Tuinsma and P.A. Wortel, 'Internationalisatie van de accountancypraktijk', in De balans opgemaakt. Een bundel opstellen van het honderdjarig bestaan van Moret & Limperg (Rotterdam, 1983), pp.441-9.
44. H.A. Post, 'Internationalisatie van dienstverlenende bedrijven', MAB (Sept. 1992), pp.420-27.
45. P.S.H. Leeflang, G. Boxem and J.A. van Dijk, 'De markt voor accountantsdiensten in Nederland', MAB (March 1992), pp. 102-7.
46. KMG, for instance, was concerned that a big client such as Daimler Benz would be taken over by Price Waterhouse if the federation would not include a strong member firm in the US. See M. Stevens, The Accounting Wars (New York, 1985), pp.31-2.
47. E. Jones, Accountancy and the British Economy 1840-1980: The Evolution of Ernst & Whinney (London, 1981), pp.217, 221-53. In 1979 the UK firms Whinney Murray and Turquands Barton Mayhew merged. Together with their US partner Ernst & Ernst, they changed their name into Ernst & Whinney.
48. A.K. Weinstein, L. Corsini and R. Pawliczek, 'The Big Eight in Europe', International Journal of Accounting, Education and Research (Spring 1978), pp.57-71.
49. Buckley and O'Sullivan, 'International Economics and Multinational Accounting Firms', pp. 128-9.
50. M. Stevens, The Big Eight (New York, 1981), p.61.
51. T. Korff, 'De ontplooiing van een maatschap; de Vereenigde Accountantskantoren 1925-1973' (unpublished text, Coopers & Lybrand, 1992), pp.41-57.
52. Het Financieele Dagblad. De omzetcijfers van ... (1982-1995) (Amsterdam, 1983-96). The Big Eight were not included in the top six Dutch accounting firms (measured in fee income) before they linked up with an important Dutch partner.
53. The European combination was termed AMSA: Arthur Young, Moret, Schitag and Atag. However, the Americans read the letters differently: Americans Must Stay Away.
54. Moret Archives, Consolidation Agreement with Arthur Young & Co., 6 March 1980, and Minutes of the Partners Meeting, 8 February 1979 - 24 March 1980.
55. Izeboud, 'Enkele invloeden van de internationalisatie', pp.592-5.
56. P. Enderwick, 'Scale and Scope in Service Sector Multinationals', in J.W. Buckley and M. Casson (eds.), Multinational Enterprise in the World Economy (Aldershot, 1992), pp.151-2.
57. S.A. Cypert, Following the Money: The Inside Story of Accounting's First Mega-Merger (New York, 1991 ), quotation from p.25.
58. E. Jones, True and Fair: A History of Price Waterhouse (London, 1995).
59. See also P.W. Daniels, N.J. Thrift and A. Leyshon, 'Internationalisation of Professional Producer Services: Accountancy Conglomerates', in P. Enderwick (ed.), Multinational Service Firms (London, 1989), pp.80-83;
60. G. Jones, Evolution, pp.172-8.
61. Boddewyn et al., 'Service Multinationals', p.53.
62. International Accounting Bulletin, Aug.-Dec. 1989.
63. E. Jones, True and Fair, p.327.
64. E. Jones, True and Fair Ibid., p.328.
65. M.E. Veldhoen, 'De Nederlandse accountants internationaal?', De Accountant (Dec. 1992), pp.212-15.
66. Izeboud, 'Enkele invloeden', pp.592-5.
67. J. ten Wolde, 'Nederlandse versus Amerikaanse accountantscontrole', MAB (March 1990).
68. Deal Watch: The KPMG Corporate Finance Network Report, 1994-1996;
69. T. Nierop, 'Zakelijke dienstverleners van volgers tot internationale wegbereiders', Account (Sept. 1995), pp.21-4.
70. Wu and Hackett, 'Internationalization of US Public Accounting Firms', pp.87-8;
71. P.K. Jagersma, 'Multinationalisatie van Nederlandse dienstondernemingen', MAB (Sept. 1995), p.557.
72. Post, Internationalisatie, pp.261-4.
73. P. Hertner and G. Jones (eds.), Multinationals: Theory and History (Aldershot, 1986), pp.3-4.
74. In Banks as Multinationals (London, 1990), p.1, the editor, Geoffrey Jones, used the same definition: 'multinational banks own and control branches and affiliates in more than one country'.