02 Corporate governance report Main characteristics of internal control and risk management systems relating to the preparation and processing of accounting and financial information 2.13 CHANGE OF CONTROL Because the Company is organized as a société en commandite par actions (partnership limited by shares), any shareholder gaining control of the capital and corresponding voting rights could not exercise control over the Company without the approval, in accordance with the Bylaws, of the Non-Managing General Partner and/or, as the case may be, all of the General Partners and/or the Supervisory Board, which would be required to make the following decisions: n election of new Managers; n amendment of the Bylaws; n election of new General Partners. 2.14 MAIN CHARACTERISTICS OF INTERNAL CONTROL AND RISK MANAGEMENT SYSTEMS RELATING TO THE PREPARATION AND PROCESSING OF ACCOUNTING AND FINANCIAL INFORMATION The Managers are responsible for disclosing reliable financial and accounting information. They are supported in this by various operational teams that report to the Managers (including the accounting, consolidation, budget control and financial communication teams). The accounting teams generally report to the heads of the Regions and Shared Service Centers, while the budget controllers analyze the Group’s performance based on its reporting segments. The team responsible for internal controls over accounting and financial risks reports to the Group’s Corporate Finance Department, which is responsible for leading financial internal control work. This department defines the internal control procedures and standards needed for the production of reliable accounting information, and coordinates the related information systems and day-to-day management procedures. These procedures are set up at local level. These include a physical inventory of both fixed assets and stocks, segregation of tasks and reconciliation with independent sources of information. Additional information about the internal control process relating to the preparation of accounting and financial information is provided in section 3.3 of this Universal Registration Document. 151 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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