In line with AIFMD requirements, Bouwinvest established an independent internal audit function in 2012 to help us accomplish our operational and business targets by taking a systematic, disciplined approach to the evaluation and continuous improvement of the effectiveness of our risk management, control and governance processes.
In 2016, Bouwinvest added another dedicated Internal Audit officer to its Internal Audit team to increase the effectiveness of the monitoring of Bouwinvest’s company-wide financial and operational processes and systems. On the operational front, this involves audit of the ISAE processes, the custodian/depositary processes and the AFM processes, as well all IT-related processes (such as COBIT, SAP, eFront) to ensure that Bouwinvest has sufficient failsafe, recovery and data protection functions in place to safeguard its IT systems. The Internal Audit team takes a proactive approach to its tasks and offers advice and recommendations on potential improvements and updates to processes and systems. In 2016, the Internal Audit team extended its auditing coverage to external property managers.