The external auditor performs the audit on the consolidated financial statements of NN Group and the statutory financial statements of their subsidiaries. In this role, the external auditor attends meetings of the Audit Committee and is present during the annual general meeting (AGM). As part of the audit engagement, the external auditor issues a management letter to the Executive Board and the Audit Committee, in which (potential) improvements in the adequacy and effectiveness of the governance, risk and control framework are being recommended.
In the 2015 AGM of NN Group, KPMG Accountants N.V. was appointed as NN Group’s external auditor as per 1 January 2016 on the recommendation of the Supervisory Board. Ernst & Young as current external auditor of NN Group will remain responsible for the audit of the financial year 2015.