Registration Document

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Corporate Governance
Chairman’s Report on the Operating Procedures of the Board of Directors
and on Internal Control and Risk Management Procedures
for each subsidiary, and then tested independently.
Improvements were seen in 75% of cases. The above
actions are part of Sodexo’s process of continuous
improvement in its internal controls and risk
management procedures.
Risk management and the reinforcement of internal
control are a permanent strategic priority for the
Group.
However, internal controls cannot provide an
absolute guarantee that all risks have been eliminated.
Sodexo nevertheless sets out to ensure that the most
effective internal control procedures feasible are in
place in each of its subsidiaries.
Sodexo Registration Document Fiscal 2011
P ◀ CONTENTS ▶
In the preparation of this report, and in keeping with
the recommendation issued by the French securities
regulator, the Autorité des marchés financiers
(AMF), in July 2010, Sodexo has also considered
and taken account of recommandations provided in
the “Reference Framework” produced by the French
Market Advisory Group and published by the AMF.
This report was approved by the Board of Directors
on November 7, 2011 and will be presented to
the shareholders at the January 23, 2012 Annual
Shareholders’ Meeting.
Pierre Bellon
Chairman of the Board of directors