BDO provides services as Vastned’s internal audit department.
BDO provides independent assurance to the Executive Board, the Supervisory Board and the Audit and Compliance Committee on the quality and effectiveness of Vastned’s internal control, risk management, governance and implemented systems and processes.
BDO supports Vastned to accomplish its mission and strategic business objectives through a systematic, documented risk based audit approach to examine, evaluate and improve the effectiveness of Vastned’s governance, control, and risk management processes.
The external auditor performs the audit on the consolidated financial statements of Vastned and the statutory financial statements of subsidiaries. In this role, the external auditor attends meetings of the Audit and Compliance Committee and is present during the annual General Meeting of Shareholders (AGM).
As part of the audit engagement, the external auditor reports to the Executive Board, and the Audit and Compliance Committee of the Supervisory Board, in which (potential) improvements in the adequacy and effectiveness of the governance, risk and control framework are being recommended.
The annual General Meeting held on 25 June 2020, re-appointed Ernst & Young Accountants LLP as the external auditor for Vastned for the audit of the annual accounts for the financial years 2021-2024.
The Supervisory Board will make recommendations to the AGM as to the appointment of the external auditor, based on an assessment made by the Audit and Compliance Committee.