Major risk factors

The Board of Directors performs its control duties on D’Ieteren’s entities by

  • ensuring that these entities’ bodies correctly perform their own control duties and that committees entrusted with special survey and control tasks (such as an Audit Committee and a Remuneration Committee) are put in place and function properly and
  • ensuring that reporting procedures are implemented to allow the Board to follow up at regular intervals the entities’ businesses, notably regarding the risks they are facing. 

The Board of Directors is assisted by the Audit Committee in the exercise of its control responsibilities on the Company’s entities, in particular as regards the financial information distributed to shareholders and to third parties and in monitoring the mechanisms for risk management and internal control.

Against this background, the effectiveness of D’Ieteren’s system of controls, including operational and compliance controls, risk management and the company’s internal control arrangements, has been reviewed. Such a system is designed to manage, rather than eliminate, the risk of failure to achieve business objectives, and can only provide reasonable, and not absolute, assurance against material misstatement or loss. 

These reviews have included an assessment of both financial and operational internal controls by the internal audit of each entity and reports from the external auditor on matters identified in the course of its statutory audit work.

 

Additional files