Misstatements may arise due to fraud or error and are considered to be material if, individually or in the
aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of the
internal control statement. The materiality affects the nature, timing and extent of our assurance
procedures and the evaluation of the effect of identified misstatements on our opinion.
An assurance engagement includes, amongst others, examining appropriate evidence on a test basis.
We have exercised professional judgement and have maintained professional scepticism throughout the
assurance engagement, in accordance with the Dutch Standard 3000A, ethical requirements and
Our main procedures include:
gaining knowledge about Rabobank's internal control over consolidated financial statements,
including controls over the effectiveness of such controls in accordance with the criteria as
included in COSO criteria;
based on this knowledge, assessing of the risks that the internal control statement contains
responding to the assessed risks, including the development of an overall approach, and
determining the nature, timing and extent of further procedures;
performing further procedures clearly linked to the identified risks, using a combination of
inspection, observation, confirmation, recalculation, re-run, analytical procedures and making
inquiries. Such further procedures involve substantive procedures, including obtaining
corroborating information from sources independent of the entity and, depending on the nature of
the object, testing the actual effectiveness of the control measures; and
evaluating the adequacy of the assurance information.
Amsterdam, 13 March 2019
PricewaterhouseCoopers Accountants N.V.
Original has been signed by R.E.H.M. van Adrichem RA
Coöperatieve Rabobank UA. - EH44X5NCPJUJ-1288894667-935
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