2007 - April
2007 - April
2007 - April
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3.0<br />
Chairman of the Board of Directors’ report<br />
2.5. Outlook for 2008<br />
Risk management<br />
Two key risk management strategies were set out by the<br />
Group Committee in the 2008 audit plan:<br />
The first mappings carried out in <strong>2007</strong> will be updated by<br />
the members of the risk division for the business divisions<br />
and insurance companies. In addition, new members of the<br />
Group (creations or external growth) will also formalize<br />
their first risk mapping;<br />
To promote the distribution of a consistent and coherent<br />
internal control and risk management culture, an “internal<br />
control” pack will gradually be rolled out for all Group<br />
companies, grouping together the models and best<br />
practices in terms of internal control.<br />
Two follow-up assignments on audits conducted in previous<br />
years, selected in light of the key issues at stake.<br />
Lastly, audits may be conducted on any other topic or in any<br />
Group company if deemed necessary by the Group Committee<br />
or Sustainable Development Committee.<br />
The actions carried out in <strong>2007</strong> and the projects planned for<br />
2008 are in line with our ongoing commitment to improving<br />
the quality, consistency and effective management of our<br />
operational and support processes wherever necessary.<br />
They represent part of a general scalable internal control and<br />
governance system, attentive to regulatory requirements and<br />
changes, while maintaining a strong focus on the field and<br />
the markets served by the Group’s various companies.<br />
Audits<br />
In addition to the section presented above, focused<br />
specifically on risk management issues, the audit plan for<br />
2008 is built around four sections as usual:<br />
Four cross-business issues, with those selected for 2008<br />
ranging from follow-up on subjects audited in previous<br />
years (antidiscrimination, review of benefits, application<br />
of the French intermediation law) to new major strategic<br />
issues (business continuity plans, Tracfin compliance);<br />
Five specific issues, focusing on potential or proven risks<br />
and notably the organization and strengthening of internal<br />
control and governance structures and bodies on insurance<br />
companies and the review of reinsurance programs within<br />
the Group;<br />
Six integration follow-up audits for companies that joined<br />
the Group in <strong>2007</strong>, with a more international dimension on<br />
these companies;<br />
Lyons, February 15 th , 2008<br />
Chairman of the Board of Directors<br />
89<br />
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