Banken for en verden i endring The bank for a ... - BNP Paribas

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Banken for en verden i endring The bank for a ... - BNP Paribas

• report of the Chairman / internal control procedures relating to the preparation and processing of accounting and financial information

The reporting process is as follows:

• Accounting data: the procedures for preparing

the Group’s financial statements are set

out in the guidelines distributed to all entities

consolidated for accounting purposes. This

facilitates the standardisation of accounting

and financial data and compliance with Group

accounting standards. Each Group entity

closes its accounts on a monthly or quarterly

basis and prepares a consolidation reporting

package and management accounts in

accordance with Group reporting deadlines.

The validation procedures which accompany

each phase in the reporting process seek

to verify that:

- Group accounting standards have been correctly

applied;

- inter-company transactions have been correctly

adjusted and eliminated for consolidation

purposes;

- pre-consolidation entries have been correctly

recorded.

• Management data: management information

is reported by each entity and business line

to the Finance function of the relevant core

business, which then reports consolidated

data for the core business to the Budget and

Strategic Management Control unit within the

Group Finance-Development function.

For each entity and core business, a reconciliation

is performed between the main income and

expense items based on management data and

the interim accounting profit balances, prior to

submitting the package to the Group reporting

system. This is supplemented by an overall

reconciliation performed by the Group Finance-

Development function to ensure consistency

between consolidated accounting profits and

management reporting profits. These two

reconciliations form part of the procedure for

ensuring reliable accounting and management.

Accounting Internal Control within

the Group Finance-Development

function

To further strengthen its role in controlling accounting

risks centrally, in 2006 the Group Finance-

Development function brought together the teams

from “Group Accounting Internal Control” and

BNP Paribas SA Mainland France Permanent

Accounting Internal Control” teams into a single

unit known as “Permanent Accounting Internal

Control”.

The “Group Accounting Internal Control” team

has the following key responsibilities:

• monitoring the creation of an Accounting Internal

Control Department and defining Group policy

in this area, as well as ensuring the correct functioning

of an accounting internal control environment

within the Group, in particular through

the internal certification procedure described

below;

• monitoring implementation by the entities of

the Statutory Auditors’ recommendations in

conjunction with the core businesses/business

lines;

• reporting back to Group Management and the

Financial Statements Committee of the Board of

Directors on.

179

CORPORATE GOvERNANCE

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