Regulatory supervision and inspection have become key features of public governance, some authors even talk about the ‘audit society’ or the age of ‘regulatory capitalism’. Despite international research showing the importance of trust in supervisory relations, there is still a fierce debate about the role of trust in Dutch supervisory relations. Several inspectorates have incorporated trust as a central theme in their supervisory policy. This article describes the role of trust within the policy of the Dutch Healthcare Inspectorate (IGZ). This research addresses four themes in dealing with the concept of trust in supervisory relations: from transparency to accountability, from output performance to performance and risk management, from trust or control to trust and control, and, finally, a special regime for reliable inspectees. The empirical analysis in this paper contributes to the knowledge about the role of trust in supervision (policy) and to the debate about the role of trust in regulatory supervision policy.