Risk management
The internal control framework for the organisation and
control of Rabobank Group's activities is based on the
framework set forth by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). As
included in the financial statements, the Executive Board
concluded that Rabobank Group's internal control over
financial reporting is adequate and effective, consistent
with the principles established by COSO.
The management of Rabobank Group is based on its strategic
principles and, by extension, on the interrelationship between
risk, return and reserves. Both the Dutch Central Bank and
the bank itself have formulated standards concerning
Rabobank's organisation and control.
Rabobank's organisation and control are subject to the
Dutch Financial Supervision Act, including subordinate
legislation based thereon, and regulations imposed by
both the Dutch Central Bank and the AFM as supervisory
authorities. These legal requirements and supervisors'
regulations form Rabobank Group's framework for the
organisation and control of its activities. For further infor
mation, please refer to the relevant sections in this Annual
Report, and in particular to the section above on 'Control
over financial reporting', which addresses risks relating to
financial reporting, and the 'Risk management' chapter, which
includes a description of control systems relating to the
most important other risks identified by Rabobank Group.
For more information
www.rabobank.com
Corporate governance 67
