Risk and capital management  In control statement 92 In control statement Internal risk management and control systems The Executive Board is responsible for designing, implementing and maintaining  internal controls, including proper accounting records and other management  information suitable for running the business. Aegon’s internal audit function assists the Executive Board  in maintaining effective controls by independently and  objectively evaluating the adequacy and effectiveness of the  organization’s internal control and risk management systems.  Criteria established under "Internal Control - Integrated  Framework", the Treadway Commission’s Committee of  Sponsoring Organizations (COSO, 1992 framework), are  used by Aegon’s internal audit function to analyze and make  recommendations to the Executive Board concerning the  effectiveness of internal controls over Aegon’s financial  reporting process and the company’s internal control framework.  Based on risk assessments performed, the Executive Board,  under the supervision of the Supervisory Board and its Audit  Committee, is responsible for determining the overall internal  audit work and for monitoring the integrity of the financial  statements of Aegon N.V. In addition, the Executive Board is responsible for Aegon’s  enterprise risk management under supervision of the Supervisory  Board and its Risk Committee. Aegon’s risk management  function monitors and controls Aegon’s solvency position and  ensures that risk taking is within Aegon’s risk tolerance levels.  The Executive Board is informed of any risks that threaten the  company’s economic/statutory solvency, reputation, reliability of  financial reporting, or operations. The risk management function develops and monitors  compliance with risk policies and risk frameworks. This also  involves the facilitation of risk identification and reviewing risk  assessments performed by the businesses. The risk management  function is responsible for identifying good practices in risk  management and working with management to ensure that  Aegon adheres to those practices. Finally, the compliance function plays a key role in monitoring  the company’s adherence to external rules and regulations and  internal policies.  As required by section 5:25c of the Dutch Financial Supervision  Act (Wet op het financieel toezicht), the Executive Board  confirms that, to the best of its knowledge, the financial  statements prepared in accordance with applicable accounting  standards give a true and fair view of the assets, liabilities,  financial condition and profit or loss of the company and the  undertakings included in the consolidation as a whole and  that the Report of the Executive Board includes a fair view of  the development and performance of the business during the  financial year and the position at balance sheet date of the  company and the undertakings included in the consolidation as  a whole, together with a description of the principal risks and  uncertainties the company faces. The Executive Board is responsible for preparing the financial  statements and the Annual Report in accordance with Dutch law  and the International Financial Reporting Standards adopted by  the European Union (IFRS). The risk management and control systems provide reasonable  assurance for the reliability of financial reporting and the  preparation and fair presentation of Aegon’s published financial  statements. However, they cannot provide absolute assurance  that a misstatement of Aegon’s financial statements can be  prevented or detected. On the basis of the above, Aegon’s Executive Board states the  following regarding risks to the company’s financial reporting: The Hague, March 19, 2014 The Executive Board of Aegon N.V. Annual Report 2013 Responsibilities for the financial statements  and the Annual Report ■ Aegon’s risk management and control systems provide  reasonable assurance that the company’s financial reporting  does not contain any material inaccuracies;  ■ Aegon’s risk management and control systems functioned  properly in 2013;  ■ There are no indications to suggest that Aegon’s risk  management and control systems will not continue to  function properly in 2014. 