Statement of the PolicymakersThe policymakers confirm their responsibility for designing and maintaining the internal quality control system. This system as described in this Transparency Report aims to provide reasonable assurance that the legally mandatory audits are performed in accordance with applicable law and regulations. As set out in this Report, EY has evaluated and further improved the internal quality control system over the last year. In the course of this evaluation we have identified actions which we believe will further strengthen controls to mitigate material risks.
The Transparency Report was discussed and adopted in the meeting of the policymakers on 16 September 2016. That date is considered the date of the evaluation of the system of quality control.
Based on the above, the policymakers confirm the following:
- The internal quality control system is operating effectively;
- An internal review of compliance with independence regulations has been conducted;
- An effective policy concerning the continuing education of our statutory auditors and other professional staff is in place.
Michèle Hagers (Chair)