101 / 266
101
2014 Registration Document
Corporate governance
3
Internal control
■
lastly, this structure is conveyed by a management framework that
is underpinned by medium-term objectives organized according to
country and by the steering of activities orientated in line with annual
budget targets and corresponding to individual plans.
Through
its policies, the Human Resources department:
■
ensures the proper availability level of resources, suitable for current
and future business requirements;
■
monitors employees’ career development and commitment;
■
ensures high-quality industrial relations;
■
defines the framework for the remuneration policy and corporate
benefits and guides the associated commitments;
■
helps to create a culture of collective development and performance.
The information systems aim to respond to needs and satisfy
requirements regarding information security, reliability, availability
and traceability:
■
at Group level, the accounting and financial information system is based
on reporting and consolidation for preparation of the Consolidated
Financial Statements and measurement of the Group’s operating
performance;
■
the country executive directors are responsible for their own information
systems, and have implemented measures to ensure system security
and digital data integrity.
◗
B. Functioning of internal processes
Each process is subject to formal procedures and operational
methods for each country, which stipulate ways of carrying out
an action or process in accordance with the Group’s regulatory
framework:
■
the group has established a regulatory framework to cover the main
risks to its assets. Implementation of this framework is mandatory for
all countries;
■
the country executive directors have established procedures and
operating methods, including control activities required to cover all
the strategic, operational and asset risks relating to their businesses
and organization. These procedures and operating methods include
and extend the key controls set out in the Group regulatory framework.
◗
C. Internal dissemination of information
The Group ensures that relevant and reliable information is diseeminated
and conveyed to the individuals concerned so that they can perform their
duties in accordance with Group standards and procedures.
■
the GroupOnline intranet provides employees with a number of practical
tools, including information on the primary standards and procedures
with which they must comply;
■
the Group regulatory framework has been communicated to all
executive directors responsible for disseminating it;
■
procedures setting out best practices and the information reporting
process are also communicated to the various countries by the Group’s
main departments;
■
the Group’s accounting policy is sent to every financial director at
the end of each quarter.
Similarly, the countries make sure to relay relevant and reliable information
to the individuals concerned so that they can perform their duties in
accordance with Group standards and procedures.
◗
D. The risk-management system
The risk-management system implemented by the Group relies primarily
on identifying, analyzing and addressing risk factors likely to affect people,
assets, the environment, the Company’s objectives and its reputation.
The Group major risks management into its day-to-day business practices.
Risk management is a job shared by all employees with the aim of
developing a risk management culture.
In particular, the system aims to:
■
create and preserve the Company’s value, assets and reputation;
■
increase the security of the Company’s decision-making and
procedures to promote achievement of objectives;
■
mobilize Company employees to adopt a shared vision of the principal
risks and raise their awareness of the risks inherent in their business.
The country executive director, with the support of the Risks & Compliance
department, are responsible for risk management within the Group.
The country executive director:
■
perform regulatory watch and recognize impacts;
■
establish procedures and suitable measures for preventing and
protecting against occurrence and limiting impacts;
■
manage incidents;
■
notify general management of any event that is likely to have an impact
on the Group’s image or financial performance.
Adopting and implementing risk management principles is delegated
to the country executive directors, whose mission is to identify, analyse
and handle the main risks they incur.
The Risk & Compliance department leads the risk management system
and provides methodological support to the operational and functional
departments through the deployment of an assessment and mapping
tool for major risks whilst developing mapping of operational risks.
Twenty-three risk factors have been identified by the Group and are
presented in the management report. These factors cover five themes:
the business environment, strategy and governance, operations, financial
risks and financial services.
The risk assessment tool is completed each year by the country executive
directors on the basis of identified risk factors. These assessments are
reviewed during an interview with the Risk & Compliance department.
The Risk & Compliance department has also worked on mapping
risks from external sources, health risks, natural risks, risk of crime and
terrorism and legal risk, while conducting studies on emerging risks
and supporting certain operational departments. It also supports the
Purchasing departments in their knowledge and evaluation of supplier risk.