KPMG Accountants NV has been ASML’s external auditor since reporting year 2016.
The firm was appointed as the external auditor for reporting year 2022 at the 2021 AGM.
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, and the outcome is reported to the Supervisory Board and communicated at the AGM. This report is taken into consideration when assessing the proposal for the reappointment of the external auditor.
At least once a year, the Audit Committee and the external auditor discuss their relationship with each other, as well as the external auditor’s relationship with the Board of Management. The Audit Committee, on behalf of the Supervisory Board, is responsible for approving the external auditor’s budget, fees and audit plan, which are determined annually.
KPMG Accountants N.V.
Laan van Langerhuize 1
1186 DS Amstelveen
Information on the auditor’s fees is available in the Annual Report.
Internal audit function
ASML has an internal audit function. The internal audit function reports directly to the Supervisory Board’s Audit Committee and the Board of Management. Internal auditing is an independent and objective assurance and consulting activity guided by a philosophy of adding value and improving ASML’s operations. The internal audit function helps the company accomplish 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 these processes is ASML management’s responsibility. While maintaining an independent position, the internal audit function cooperates with management to ensure risks are taken in a controlled way. The internal audit function provides assurance services to the Board of Management and the Audit Committee. The internal audit function’s advisory role 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.