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Internal control
In accordance with the recommendations of the AFEP (French Association of Private Companies) and MEDEF (French employers’ association), the group adopted an internal control procedure in 2003. The new internal control procedure guidelines, arising from the efforts of an AMF working party, were published in May 2006 and January 2007. These new guidelines were taken into account by the group in analysing its internal control system.
The objectives of the internal control system are:
- to prevent and control risks relating directly to the group’s activities or which may affect its activities, in particular ensuring the quality and sincerity of accounting and financial information;
- to ensure compliance with laws and regulations as well as values, standards and procedures in force within the company.
The methodology used is based on the COSO (Committee of Sponsoring Organizations of the Treadway Commission) model.
This report is also available in English as Annex B of the 2006 registration document (p.275)