RepoRt on - BNP Paribas

limitation of the powers
of the chief executive officer
the chief executive officer has the
broadest powers to act in all circumstances
in the name of bnP Paribas and
to represent the bank in its dealings with
third parties.
He shall exercise these powers within the
limits of the corporate purpose and subject
to those powers expressly granted
by french law to shareholders’ meetings
and the board of directors.
within the group, the internal rules of
the board of directors require the chief
executive officer to submit to the board
for prior approval any investment or dis-
Roles and
responsibilities regarding
the preparation and
processing of accounting
and financial information
acting under the authority of the chief
executive officer, the group financedevelopment
function is responsible for
the preparation and processing of accounting
and financial information. its
duties and responsibilities are defined in a
specific charter and include:
— producing and distributing high quality
financial statements;
— producing quality management accounts,
and providing all forecast
quantitative data needed for steering
group policy;
— overseeing project management
for the group’s financial information
systems;
— optimising the group’s financial
position;
investment decision (excluding portfolio
transactions) of more than eur 250 million,
and any proposed acquisition or divestment
of equity interests (excluding portfolio
transactions) of more than eur 250 million.
the chief executive officer must seek
preliminary approval from the financial
statements committee of the board for
audit engagements entailing total fees
of over eur 1 million (before tax).
internal control procedures relating
to the preparation and processing
of accounting and financial information
— ensuring that the group’s financial
position is well presented to the financial
markets;
— coordinating the group’s development
strategy and managing its external
growth;
— providing executive management
with early warnings.
the responsibilities of the finance
function are exercised at different levels
of the group: within each accounting
entity (1) by the local finance department
function, at the level of each core
business/business line by the finance
department function and by the group
finance-development function.
the production of accounting and financial
data, and controls designed to ensure their
reliability, are first handled by the finance
department of the accounting entity which
reports this information to the core business,
then on to the group, and attests that it is
reliable, based on the internal certification
procedure described below.
(1) “Accounting entity” refers to the parent company, BNP Paribas, as well as each of the consolidated subsidiaries and branches.
124 <strong>RepoRt</strong> on CoRpoRate SoCial and enviRonmental ReSponSibility
the core businesses/business lines/territories
then perform further controls at their
level on the financial statements prepared
by the accounting entities. they enhance
the quality of the reporting by carrying out
appropriate reconciliations of accounting
and management data.
the group finance-development
function gathers all the accounting and
management information produced by
the accounting entities in line with formalised
reporting procedures validated
by the core businesses/business lines. it
then consolidates these data for use by
executive management or for external
reporting to third parties.