Declaration by the Board

1.5.3.1

In respect to the risks related to financial reporting the Executive Board states that the internal risk control measures and control framework were effective as at the end of the 2016 financial year and provide a reasonable degree of assurance that:

  • the Executive Board is informed, on time, of the degree to which the Company’s strategic, operational and financial objectives are being achieved, and
  • the financial reporting does not contain any material misstatement.

It should be noted that the above does not imply that these systems and procedures provide absolute assurance as to the realisation of operational and strategic business objectives, or that they can prevent all misstatements, inaccuracies, errors, fraud, and non-compliances with legislation, rules and regulations.

Each member of the Executive Board hereby declares, in conformance with Article 5:25c, Clause 2 under c of the Financial Supervision Act, that to the best of his knowledge:

  • the financial statements give a true and fair view of the assets, liabilities, financial position and result of the Company and the companies included in the consolidation, and
  • the annual report gives a true and fair view of the situation as at 31 December 2016 and the business development during the 2016 financial year of the Company and the associated companies for which the financial information is recognised in its financial statements. The annual report also describes the material risks with which company is confronted.

Lochem, 13 March 2017

Executive Board ForFarmers N.V.

Yoram Knoop, CEO

Arnout Traas, CFO

Jan Potijk, COO

 

1.5.3.2