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Boskalis jaarverslagen 2012

Evaluation of risk management and internal control systems

Major organizational changes have been implemented in order to accommodate the rapid growth that Boskalis has experienced in recent years, including the introduction of a divisional structure. Further to this we have also made a start on adapting, where necessary, the systems and processes in the area of quality assurance, risk management and internal control. Partly in light of the challenging market developments we would have liked to see more progress made in this area than was achieved during the year under review. Based on the targets included in the annual plans of the business units we expect to realize substantial progress in 2016.

The structure and functioning of our risk management and internal control systems are discussed annually with the Supervisory Board.

However much care is taken in setting up risk management and internal control systems, they are unable to provide absolute certainty with regard to realizing the corporate objectives, nor can they preclude material mistakes, losses, fraud, or infringements of legislation and regulations.

Statement regarding risks relating to the financial reporting

With due consideration of the aforementioned scope for improvement and restrictions, the Board of Management is of the opinion that:

  • the internal risk management and control systems provide a reasonable degree of assurance that the financial reporting does not contain any errors of material importance; and

  • the risk management and control systems worked properly during the year under review.

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