Prof. Regine Slagmulder
Paul Van Dun
Within the board of directors, an audit committee has been set up. The set-up and functioning of the audit committee are described in the articles of association and Corporate Governance Charter of Quest for Growth. All the members of the audit committee amply fulfil the criteria in terms of accounting and audit expertise. The audit committee members have no executive or functional responsibilities within the company. The committee assists the board of directors in performing its duties by overseeing:
• the quality and integrity of the audit, bookkeeping and financial reporting processes;
• the financial reports and other financial information provided by the company to its shareholders, prudential regulators and the general public;
• the company’s internal control systems relative to bookkeeping, financial transactions and compliance with statutory requirements and the ethical rules imposed by management and the board of directors.
The audit committee’s principal activity is to steer and supervise the financial reporting, bookkeeping and administration. The financial reporting is discussed half-yearly, with special attention being paid to valuation decisions relative to holdings and funds in the portfolio.
The audit committee oversees the efficiency of the internal control and risk management systems.
Moreover, the audit committee was given access to the report by the manager’s internal auditor. In 2016, attention focused on the operational adjustments to the manager in the context of securing a licence as a manager for alternative investment funds.