Internal controls and risk management

Internal controls

The company has strict procedures for internal controls. The Board of Management and Executive Committee have established several Risk, Control and Compliance Committees, which are explained in Integrity and compliance management. In 2020, we invested in enhancing our Internal Control Framework and Process, alongside the continued work on system embedded controls, standard role design and segregation of duty monitoring. An integrated Risk and Internal Control department supports all businesses and functions in their work.

The AkzoNobel internal control framework

The AkzoNobel internal control framework (graphic)

Risk management

Our risk management system is explained in more detail later in the next chapter. Reference is made to the Statement of the Board of Management relating to internal risk management and control systems.