Audit Committee
Duties and powers
The Audit Committee was set up by the Supervisory Board in support of the supervision of:
- The operation of the internal risk management and control systems, including compliance with legislation and regulations and the operation of the codes of conduct
- The provision of financial information by the company
- Compliance with recommendations and observations of the Internal Audit Department and the external auditor
- The 'in-control statement'
- The role and functioning of the company’s Internal Audit Department
- Relations with the external auditor including, in particular, his independence, remuneration and any non-audit services for the company
- The financing of the company
- The application of information and communication technology
Composition
The Audit Committee consists of at least three members, who are must all be members of the Supervisory Board. All members of the Audit Committee must be independent within the meaning of the Terms of Reference of the Supervisory Board, with the exception of no more than one member.
At least one member of the Audit Committee is a financial expert, in the sense that he has relevant knowledge and experience of financial administration and accounting at listed companies or other large legal entities.
Members
The members of the Audit Committee are:
P. Bouw (chairman)
L. Koopmans
D. Haank
Terms of Reference
Information about the composition, duties and powers of the Audit Committee, the meetings and reporting to the Supervisory Board can be found in the Terms of Reference of the Audit Committee.