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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
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About this Chairman's Corporate Consolidated Financial Company Financial
Report Foreword Management Report Appendices Governance Statements Statements
Annual Report 2018 - Company Financial Statements
