Internal audit

The Internal Audit function is mandated to provide AkzoNobel Management and the Audit Committee with independent, objective assurance on the adequacy of the design and operating effectiveness of the internal control framework in place. The Corporate Director of Internal Audit reports to the CEO and has direct access to the Audit Committee. The function performs its mandate based on an independently developed risk-based audit plan which is approved by the Audit Committee. It reports a summary of the audit findings bi-annually to the Executive Committee and the Audit Committee, which culminates in an annual assessment of the quality and effectiveness of the company’s internal control systems. More information is available under Audit Committee earlier in this section.