NWO audit committee

In accordance with the requirements of a public-interest entity (PIE), NWO has an audit committee. This committee was created by the Supervisory Board.

The creation of an audit committee is laid down the Supervisory Board’s rules of procedure. The audit committee provides advice on the budget, annual financial statements and annual report.

The Supervisory Board can also ask the committee to prepare advice for the Supervisory Board in areas other than the above-mentioned ones. NWO is thus complying with the requirements that have come into force with its status as a PIE as of 1 January 2020.

Composition

Under the PIE regime, those setting up the audit committee have to ensure that its collective members have the necessary expertise (relevant to the sector in which the organisation operates) and that at least one of the members of the audit committee is independent.

The audit committee consists of two members of the Supervisory Board and an external member. The external member is appointed on the recommendation of the two members of the audit committee who are part of the Supervisory Board. At the very least, the external accountant will attend the meeting in which his report regarding the audit of the annual financial statements will be discussed.

Members

The Supervisory Board has appointed the following members:

  1. Willem te Beest, chair
  2. Amandus Lundqvist
  3. Peter Sampers, external member