Annual Report 2020

In Control Statement

The Management Board manages GrandVision and is responsible for achieving our strategy, objectives, goals and results. It is also responsible for taking appropriate measures in relation to the design and operation of the internal risk management and control systems that are consistent with GrandVision’s business. These systems have been designed to identify opportunities and risks in a timely manner, manage significant risks, facilitate the realization of our strategic, operational and financial objectives, safeguard the reliability of our financial reporting and comply with applicable laws and regulations.

To fulfil these responsibilities, GrandVision systematically reviewed and, where necessary, enhanced our internal risk management and control processes with regards to our strategic, operational, compliance and financial risks (including risks related to financial reporting) during 2020. The results of these reviews, including changes and planned improvements, were discussed with the Audit Committee and Supervisory Board.

It should be noted that the above does not imply that these systems and procedures, however well-designed and intended to optimally control risks, provide absolute assurance for the realization of operational and strategic objectives, nor can they prevent all misstatements, inaccuracies, errors, fraud and non-compliance with legislation, rules and regulations.

Based on the approach described above, and in accordance with best practice provision 1.4.3 of the Dutch Governance Code, our Management Board states that i) the report provides sufficient insights into any failings in the effectiveness of the internal risk management and control systems; ii) the aforementioned systems provide reasonable assurance that the financial reporting does not contain any material inaccuracies; iii) based on the current state of affairs, it is justified that the financial reporting is prepared on a going concern basis; and iv) the report states those material risks and uncertainties that are relevant to the expectation of the GrandVision’s continuity for the period of 12 months after the preparation of this Annual Report.