KPMG Accountants N.V. has been ASML’s external auditor since reporting year 2016.
The firm was appointed as the external auditor for reporting year 2020 at the 2019 AGM.
KPMG Accountants N.V.
Professor Dr. Dorgelolaan 30a
5613 AM Eindhoven
The external auditor’s performance and work completed for ASML and all its subsidiaries are evaluated on an annual basis between the Audit Committee and the Board of Management, the outcome of which is reported to the Supervisory Board and communicated to the AGM. This report is taken into consideration when assessing the proposal for the reappointment or replacement of the external auditor.
At least once a year, the Audit Committee and the external auditor discuss the relationship between the Board of Management and the external auditor as well as the relationship between the Audit Committee and the external auditor. The Audit Committee, on behalf of the Supervisory Board, is responsible for the approval of the external auditor’s budget, fees and audit plan, which are determined annually.
Information on the auditor’s fees are available in the Integrated Report.
ASML established an internal audit function in 2004. The Internal Audit department reports directly to the Audit Committee of the Supervisory Board and the Board of Management. Internal auditing is an independent and objective assurance and consulting activity guided by a philosophy of adding value to improve the operations of ASML. The auditor assists ASML in accomplishing its objectives by bringing a systematic and disciplined approach to evaluating and improving the effectiveness of risk management, control and governance processes.
The establishment of risk management, control and governance processes are the responsibility of management. While maintaining an independent position, the internal auditor cooperates with management to ensure risks are taken in a controlled manner. The internal auditor’s assurance services are provided to the Board of Management and Audit Committee. The advisory role of internal auditor is primarily the result of the recommendations included in internal audit reports addressing specific internal control weaknesses. Other advisory services are assessed against criteria meant to preserve the internal audit’s independence and objectivity.