The Board has established an audit committee in accordance with Article 7:99 of the BCCA.
The Audit Committee advises the Board on accounting, audit and internal control matters, and in particular:
- monitors the financial reporting process including risks;
- monitors the effectiveness of the Company’s system of internal control, risk management systems as well as the internal audit function;
- monitors the conducting of the performance of statutory audit (contrôle legal/wettelijke controle) of the annual and consolidated accounts, including the follow-up on questions and recommendations made by the statutory auditor;
- presents recommendations to the Board with respect to the appointment of the statutory auditor; and
- reviews and monitors the independence of the statutory auditor, in particular regarding the provision of non-audit