Appendix to our auditor's report on the
financial statements 2017 of Coöperatieve
Rabobank U.A.
Contents Introduction Management report Appendices Corporate governance Consolidated Financial Statements Company Financial Statements
of accounting unless the Managing Board either intends to
liquidate the company or to cease operations, or has no realistic
alternative but to do so. The Managing Board should disclose
events and circumstances that may cast significant doubt on
the company's ability to continue as a going concern in the
financial statements.The Supervisory Board is responsible for
overseeing the company's financial reporting process.
Our responsibilities for the audit of the financial
statements
Our responsibility is to plan and perform an audit engagement
in a manner that allows us to obtain sufficient and appropriate
audit evidence to provide a basis for our opinion. Our audit
opinion aims to provide reasonable assurance about whether
the financial statements are free from material misstatement.
Reasonable assurance is a high but not absolute level of
assurance which makes it possible that we may not detect all
misstatements. Misstatements may arise due to fraud, or error.
They are considered to be material if, individually or in the
aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of the financial
statements.
Materiality affects the nature, timing and extent of our audit
procedures and the evaluation of the effect of identified
misstatements on our opinion.
A more detailed description of our responsibilities is set out in
the appendix to our report.
Amsterdam, 8 March 2018
PricewaterhouseCoopers Accountants N.V.
Original has been signed by P.J. van Mierlo RA
In addition to what is included in our auditor's report, we have
further set out in this appendix our responsibilities for the
audit of the financial statements and explained what an audit
involves.
The auditor's responsibilities for the audit of the
financial statements
We have exercised professional judgement and have
maintained professional scepticism throughout the audit
in accordance with Dutch Standards on Auditing, ethical
requirements and independence requirements. Our objectives
are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement,
whether due to fraud or error. Our audit consisted, among other
things, of the following:
Identifying and assessing the risks of material misstatement
of the financial statements, whether due to fraud or error,
designing and performing audit procedures responsive to
those risks, and obtaining audit evidence that is sufficient
and appropriate to provide a basis for our opinion.The risk of
not detecting a material misstatement resulting from fraud is
higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations,
or the intentional override of internal control.
Obtaining an understanding of internal control relevant
to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the company's
internal control.
Evaluating the appropriateness of accounting policies used
and the reasonableness of accounting estimates and related
disclosures made by the Managing Board.
Concluding on the appropriateness of the Managing Board's
use of the going concern basis of accounting, and based on
the audit evidence obtained, concluding whether a material
uncertainty exists related to events and/or conditions that
may cast significant doubt on the company's ability to
continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our
auditor's report to the related disclosures in the financial
statements or, if such disclosures are inadequate, to modify
our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor's report and are made
in the context of our opinion on the financial statements as
a whole. However, future events or conditions may cause the
company to cease to continue as a going concern.
Rabobank Annual Report 2017 - Company financial statements
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