During the financial year, the Audit Committee was comprised of Ms De Groot (Chair), Mr Goeminne and Mr Van der Vis. Following the Extraordinary General Meeting on 3 December 2018, Mr Beyens, Mr Boone and Mr Karis were added to this committee and Ms De Groot and Mr Van der Vis stepped down on 4 December 2018. Until a new financial expert is appointed to succeed Ms De Groot, Mr Boone will temporarily serve as acting Chairman of the Audit Committee. The composition of the Audit Committee is in accordance with the provisions of the Dutch Corporate Governance Code, with Ms De Groot having served as financial expert.
The Audit Committee’s duty is to advise the Supervisory Board on, and assist it in, its responsibility to monitor the company’s compliance with reporting and corporate governance requirements.
The Audit Committee convened on two occasions in the past financial year. On both occasions, the Audit Committee met with the external auditor in the absence of the Management Board.
The Audit Committee extensively discussed the financial statements and the Report of the Management Board, the half-year results and associated audit reports including the key audit matters, and the management letter with the Management Board and the external auditor, PwC Accountants. The Audit Committee also focused on the audit plan for 2018, compliance with previous recommendations, tax issues, liquidity and funding, and the Group's risk management and control system.
Regular discussions took place between the Internal Auditor and the Chairman of the Audit Committee. Those discussions took place both with and without employees of the Group. The Audit Committee also discussed the findings of the Internal Audit Function.