The AGM appoints the External Auditor. The Audit Committee recommends to the Supervisory Board the External Auditor to be proposed for reappointment by the AGM. In addition, the Audit Committee evaluates and where appropriate recommends replacement of the External Auditor and approves its remuneration after consultation with the Executive Board.
On 16 April 2015, the AGM appointed Deloitte Accountants B.V. as external auditors for the financial year 2015.
External Auditor Policy
Wessanen has established a policy for the independence of and provision of services by its external auditors. It stipulates that external auditors may only provide services which do not conflict with its independence and which are explicitly listed in the policy. These permissible services are
- audit services (e.g audit of financial statements); and
- non-audit services (e.g. risk management advisory services, treasury advisory services and tax planning and tax consultation services).
The Audit Committee annually reviews the list of permissible services and may add to or subtract services from the list from time to time.
The audit services and non-audit services require pre-approval of the Audit Committee.
Deloitte Accountants B.V. is the Company’s External Auditor over the years 2010 and further. All audit services and non-audit services from Deloitte were pre-approved by the Audit Committee.
Relationship and communication of the External Auditor with the bodies of the Company
The External Auditor attends the meeting of the Supervisory Board in which the financial statements are approved and shall in principle attend all meetings of the Audit Committee. The External Auditor simultaneously reports its findings concerning the audit of the financial statements to the Executive Board, the Supervisory Board and the Audit Committee. The functioning of the External Auditor is assessed annually.