The Audit Committee advises the Board on accounting, audit and internal control matters, and shall in particular:
- monitor the financial reporting process;
- monitor the effectiveness of the Company’s internal control and risk management systems;
- monitor the internal audit and its effectiveness;
- monitor the statutory audit (contrôle legal/wettelijke controle) of the annual and consolidated accounts, including any follow-up on any questions and recommendations made by the external auditor;
- present recommendations to the Board with respect to the appointment of the statutory auditor; and
- review and monitor the independence of the external auditor, in particular regarding the provision of additional services to the Company.