pwc Criteria for our assurance engagement Rabobank's internal control over consolidated financial statements is a process designed to provide reasonable assurance that Rabobank maintained, in all material respects, effective internal control over the consolidated financial statements as at 31 December 2018, in accordance with the criteria based on the framework set out in 2013 by the Committee of Sponsoring Organisations of the Treadway Commission (COSO), as defined in Internal Control - Integrated Framework (hereafter: COSO criteria). Rabobank's internal control over consolidated financial statements includes those policies and procedures that: pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of Rabobank; provide reasonable assurance that transactions are recorded as necessary to permit preparation of consolidated financial statements in accordance with International Financial Reporting Standards as adopted in the European Union and Part 9 of Book 2 of the Dutch Civil Code, and that receipts and expenditures of Rabobank are being made only in accordance with authorisations of management of Rabobank; and provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of Rabobank's assets that could have a material effect on the consolidated financial statements. Inherent limitations Because of its inherent limitations, internal control over financial reporting may not prevent or detect all misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Responsibilities for the internal control and the assurance engagement Responsibilities of the Managing Board The Managing Board of Rabobank is responsible for the preparation of the internal control statement in accordance with the COSO criteria as further explained in the paragraph Criteria in this report, including the identification of the intended users and the criteria being applicable for the purposes of the intended users. The Managing Board is also responsible for such internal control as it determines is necessary to enable the preparation of an internal control statement that is free from material misstatement, whether due to fraud or error. The statement of the Managing Board regarding its assessment of the effectiveness of internal control over the consolidated financial statements is included in note 55 of the consolidated financial statements. Our responsibilities for the assurance engagement Our responsibility is to plan and perform the assurance engagement in a manner that allows us to obtain sufficient and appropriate audit evidence for our opinion. Our opinion aims to provide reasonable assurance that the internal control statement is prepared, in all material respects, in accordance with the COSO criteria as further explained in the paragraph Criteria in this report. Reasonable assurance is a high but not absolute level of assurance which makes it possible that we may not detect all misstatements. Coöperatieve Rabobank UA. - EH44X5NCPJUJ-1288894667-935 Page 2 of 3 259 About this Chairman's Corporate Consolidated Financial Company Financial Report Foreword Management Report Appendices Governance Statements Statements Annual Report 2018 - Company Financial Statements

Rabobank Bronnenarchief

Annual Reports Rabobank | 2018 | | pagina 261