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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

> At entity level

The procedure for certification vis-à-vis the

Group requires a suitably adapted accounting

Internal Control system for each accounting

entity that gives the local Finance function

an overview of the entire accounting process.

Toward this end, Group Accounting Internal

Control has made it a rule that an “elementary

certification” (or “basic certification”) process be

implemented for accounting data.

This process requires that those who prepare

accounting data and provide accounting controls

(e.g., Middle Office, Back Office, Human

Resources, Risk Management, Tax Affairs,

Management Control/Planning, Accounts

Payable, Treasury Management, IT Department,

etc.) formally certify that the information provided

is accurate and that the basic controls

designed to ensure the reliability of the financial

data for which they are responsible are working

effectively. The elementary certificates are

sent to the local Finance department, which

analyses them, prepares a summary report and

liaises with the other players in order to monitor

the effectiveness of the system.

The FACT application also makes it possible to automate basic certification procedures by providing

entities with a dedicated environment in which they can manage directly the processes set up at their

level. The following diagram summarises this procedure:

IDENTIFIED

KEY

CONTROLS

BASIC

CERTIFICATION

Middle Office

• Reconciliation

of management

profit data

and accounting

profit data

• Reconciliation

of Front Office

and Back Office

data

Back Office

• Confirmations

• Reconciliation

of Back Office

data and

accounting data

• Nostro accounts

• Suspense accounts

FINANCE

DEPARTMENT

Risk

Management

Department

• Control of market

and valuation

parameters

• Control of models

• Overview on the implementation of key controls

• Set of indicators on the implementation of key controls

• Preparation and control of the financial statements

Other

Departments

• Control of general

ledger accounts

181

CORPORATE GOvERNANCE

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