The external auditor is appointed by the General Meeting upon nomination of the Supervisory Board, after recommendation by the Audit Committee.
On 28 May 2015, the General Meeting appointed KPMG Accountants N.V. as the external auditor of NN Group for the financial years 2016 through 2019. On 29 May 2019 KPMG Accountants N.V. was reappointed as the external auditor of NN Group for the financial years 2020 through 2022.
External Auditors Independence Standard
As a listed company, NN Group values a transparent and independent position from its external auditor. This is reflected in NN Group’s Standard on External Auditors’ Independence, that aims to avoid the auditor providing services that:
- create mutual or conflicting interests between the auditor and NN Group
- place the auditor in the position of auditing its own work
- result in the auditor functioning in the role of management or employee of NN Group
- place the auditor in the position of serving in an advocacy role for NN Group
The Audit Committee is required to separately pre-approve the types of audit, audit-related, and other services to be performed by the auditor in order to ensure that the performance of such services would not impair the auditors' independence from NN Group.
NN Group’s Standard requires the auditor to provide the Audit Committee with a full overview of all services provided to NN Group, including related fees and supported by sufficiently detailed information. This overview will be evaluated quarterly by the Audit Committee.