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

media.cms.bnpparibas.com

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

CONTROLS – CENTRAL

ACCOuNTING INSpECTION TEAm

Controls are performed by the General Inspection

unit as well as by the Internal Audit Department

of each core business, entity and function. With

a view to further strengthening these control

procedures, an accounting inspection team, set

up in 2004, is tasked with performing specific

audits on accounting procedures and crossfunctional

accounting issues within the Group.

This team reports to the General Inspection

unit and receives the necessary technical support

in accounting-related matters from Group

Finance-Development.

Its action points, which have been developed

by the General Inspection unit in conjunction

with the Group Finance-Development function,

are based on the remote accounting internal

control tools available to the Group Finance-

Development function (internal certification

processes) as well as the Risk Monitoring

Committee set up by the General Inspection

unit.

The core aims of the team are as follows:

• to provide accounting and financial expertise

in order to reinforce the capability of the

General Inspection unit when carrying out its

functions;

• to disseminate internal audit best practices

and standardise the quality of audit work

throughout the BNP Paribas Group;

• to identify and inspect the areas of accounting

risk at Group level.

dEVELOpmENT

Of ThE ACCOuNTING INTERNAL

CONTROL SySTEm

The accounting Internal Control system is constantly

being adapted to the Group’s requirements.

The aforementioned procedures form

part of an evolving system that aims to guarantee

an adequate level of control throughout the

Group.

RELATIONS wITh ThE GROup’S

STATuTORy AudITORS

Each year, the Statutory Auditors issue a report

in which they give their opinion concerning the

fairness of the consolidated financial statements

of the BNP Paribas Group as well as the annual

financial statements of the Group’s subsidiaries.

The Statutory Auditors also carry out limited

reviews on the quarterly accounts close. As part

of their statutory audit assignment:

• they examine any significant changes in

accounting standards and present their recommendations

concerning choices with a

material impact to the Financial Statements

Committee;

• they present the entity/business line/core

business Finance functions with their findings,

observations and recommendations for the

purpose of improving certain aspects of the

Internal Control system for the preparation of

accounting and financial information, reviewed

in the course of their audit.

182

CORPORATE GOvERNANCE

More magazines by this user
Similar magazines