On 22 April 2020 the Maandblad voor Accountancy en Bedrijfseconomie (MAB) published the study by Robert Bogtstra and Inge Garretsen (ONE Risk Advisory, then FSV Risk Advisory) and Remko Renes (Nyenrode Business University) into the internal audit function at Dutch listed companies from 2016 to 2018.
The share of listed companies with an internal audit function rose from 53% to 64% over those years. Most companies without a function explain why, but the quality of those explanations falls short: of the 34 companies without a function, three gave an explanation that meets the standard of the Code. The researchers therefore advocate comply and explain.
Read the full article with the figures and the rating of the explanations, or read the study itself in the MAB.