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Consequently, the control requirements regarding these financial (reporting) risks have been defined and collated in our Financial Control Framework (FCF).
Furthermore, many of the applicable policies, procedures, instructions and internal control descriptions have been (re-)defined and documented.
The most important aspects of our financial reporting systems are set out in manuals, guidelines and procedures, all of which are available electronically.
Staff are trained in how to apply accounting standards, guidelines and procedures.
Continued pressu Papendrecht, 25 April 2018 Royal Boskalis Westminster N. (Boskalis) has emerged as best bidder in a tender to construct an artificial island in the IJmeer lake adjacent to the existing IJburg islands.
Boskalis was informed about this result by the municipality of Amsterdam, the Netherlands.
In turn, business unit managers are responsible for the financial reporting of their respective business units.
Boskalis holds substantial investments in joint ventures and associated companies and these holdings are intensively monitored.Findings concerning the quality of the financial control systems identified during the audit of the financial statements are reported by the external auditor in the Management Letter.During 2017 we completed a review of our controls over financial (reporting) risks.In doing so, the updated COSO internal control framework has been used as a standard of reference.A gap-analysis was performed to compare actual controls with these minimum control requirements.The new electronic platform containing the FCF-documentation has been made to match that of our Wo W-system, thus further enhancing its user-friendliness for our staff.