In control statement
A statement by the executive board on the operation of the system of risk management and internal control, covering operational, compliance and reporting risks. Since the Dutch Corporate Governance Code 2025 this is the risk management statement (verklaring omtrent risicobeheersing, VOR) in best practice provision 1.4.3. It asks for a reasonable degree of certainty on financial reporting and at least a limited degree on sustainability reporting; only for operational and compliance risks does the board determine the level of certainty itself, and there 'certainty' ('zekerheid') explicitly does not mean assurance. The external auditor does not provide assurance on the statement. For listed companies the Code applies on a comply-or-explain basis.
Source: Nederlandse Corporate Governance Code 2025, best practice bepaling 1.4.3; COSO IC 2013
Last updated: