Today, Wavin - Jaarverslag.com

Wavin Annual Report 2010 | page 48Statement of controlWavin’s risk management and control system is designed to safeguard effective and controlledrealisation of the company’s objectives.In accordance with best practice provision II.1.4 of the Dutch Corporate Governance Code, theSupervisory Board’s Audit & Investment Committee has assessed the adequacy of the internal riskmanagement and control system. Based on the activities performed during 2010 and with observanceof the restrictions below, in accordance with best practice provision II.1.5, the Management Boardbelieves that the risk management and control systems regarding the fi nancial reporting risks haveworked properly during the year, and provide reasonable assurance that the 2010 fi nancial statementsdo not contain any errors of material importance.The Management Board intends to give as true and fair a picture of Wavin’s risk profi le as possible.There may, however, be circumstances in which risks occur that have not been identifi ed yet or ofwhich the impact is greater than expected. The Management Board emphasises that the nature of thecompany’s activities explicitly involves exposure to risks that may be beyond its control. Where areduction of risk exposure, intentional or unintentional, is not possible, the systems aim to limit theimpact such risks can potentially have on the company and its stakeholders. Risk management andcontrol systems, however, can never provide an absolute guarantee that all risks are adequatelymanaged or that a company’s objectives will be realised.Wavin aims to comply with corporate governance requirements in respect of these responsibilities.As noted above, the presence and effectiveness of the implemented systems can, however, never bea guarantee that the company’s objectives will be achieved, nor can these systems ensure that humanerror, unforeseen circumstances, materially incorrect statements, loss, fraud and violation of acts andregulations are wholly prevented.Statement pursuant to the Financial Markets Supervision ActThe members of the Management Board confi rm that, to the best of their knowledge, (i) the fi nancialstatements provide a true and fair view (getrouw beeld) of the assets, liabilities, fi nancial position andprofi t or loss of the company and its consolidated participations, and (ii) the management report provides(a) a true and fair view (getrouw beeld) of the company and its related participations on the balancesheet date and the state of affairs during the fi nancial year to which the report relates and (b) describesthe material risks the company is facing.Zwolle, 1 March 2011The Management BoardH. ten Hove, President & CEOW.H.J.C.M. Oomens, Executive Vice President & CFOM.P.M. Roef, Executive Vice President