Audit Committee

Authority

Het The Audit Committee is tasked with the following duties:

  • checking and evaluating the Interim results of the subsidiary companies;
  • discussions with the auditors of their audit plan and the year-end check;
  • the selection, evaluation, appointment and replacement of the auditors of the group’s various companies;
  • determining the accounting policies; and
  • establishing systems for, and monitoring, operation of the internal and external checks, and designing measures to combat insider trading and market manipulation.


Composition

The Audit Committee comprises non-executive directors. At least one of them is an independent director:

Name Term*
Creafim BVBA, with Wim Deblauwe as permanent representative 2014
JLD BVBA, with Jean-Luc Desmet as permanent representative 2014
OVS CV, with Hubert Ooghe as permanent representative ** 2014


* The term of appointment of Board of Director members expires immediately following the General Meeting of the year listed against the name of each director. .
** Independent director

The Board of Directors believes that OVS CV, permanently represented by Hubert Ooghe, has the necessary independence and expertise in accounting and auditing. Hubert Ooghe is also not linked to Accentis in any way whatsoever, nor to any of the companies linked with Accentis. As a doctor of economic sciences and professor emeritus at the Faculty of Economics and Business Administration at the University of Ghent and at the Vlerick Leuven Ghent Management School, as a member of the Accountancy & Corporate Financing research group at the University of Ghent and as the author of a variety of books on accountancy and corporate financing, he has more than demonstrated his expert knowledge.

Meeting
The Audit Committee meets at least twice a year to prepare the Interim results and the year-end statements and, if necessary, ad hoc. The auditor and the Chief Executive Officer are invited to meetings of the Audit Committee.