Audit function
The external auditor is appointed by the General Meeting of Shareholders. They report on their audit to the Supervisory Board and the Executive Board, providing an opinion on the reliability of the annual financial statements.
External auditor
The Audit Committee meets at least once a year with the Executive Board to discuss developments regarding the external auditor with the Supervisory Board. The focus is primarily on the auditor’s independence, including the desirability of rotating responsible partners within the accounting firm and whether the auditor also performs other tasks for NS.
Every four years, the Audit Committee reviews a comprehensive assessment of the external auditor’s performance, prepared by the Executive Board. The committee shares its conclusions with the General Meeting and the Supervisory Board.
The external auditor attends parts of the Supervisory Board meetings where the audit report on the annual financial statements is discussed. They also attend the discussions and approval of the annual financial statements, as well as the review of the half-year figures.
NS Audit
The internal auditors operate under the responsibility of the Executive Board. They discuss the results of their work with the Audit Committee.
The Executive Board ensures that both the Audit Committee and the external auditor are involved in preparing the work plan for the internal auditors.