BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

CONTROLS OF ACCOUNTING AND FINANCIAL REPORTING QUALITY

BODIES RESPONSIBLE FOR ACCOUNTING AND FINANCIAL INFORMATION

In addition, BPCE’s Management Board has tasked the Finance and Strategy division with organizing the coordination, information and decision-making process on financial and accounting matters through the Finance function’s supervisory committees, organized around three categories: permanent committees; • coordination and reporting committees: these comprise key • managers from the Finance function or key managers from each business line department with finance duties (financial control, accounting, cash management, asset/liability management and tax); temporary committees that manage and coordinate projects • with fixed deadlines. In order to ensure the transparency and security of the system, these committees are formally governed by regulations that define the operation, organization, composition and role of each committee, along with the rules for reporting on their discussions. The Finance and Strategy division’s committees always involve representatives from the shareholder institutions and, if applicable, Group subsidiaries.

Once per quarter, the BPCE Management Board finalizes the consolidated financial statements and presents them to the Supervisory Board for verification and control. Individual financial statements are prepared once per year, in accordance with regulations in force. The Supervisory Board of BPCE checks and controls the individual and consolidated financial statements prepared by the BPCE Management Board and presents its observations about the financial statements for the fiscal year at the Ordinary General Shareholders’ Meeting. For this purpose, the Supervisory Board has set up a specialist committee in charge of preparing its decisions and formulating recommendations:the Audit Committee. Details on this committee’s duties, including oversight of the accounting and financial information production process, the statutory audit of the annual and consolidated financial statements and the Statutory Auditors’ independence, are provided in the section relating to “Corporate governance”. The Finance Committee brings together executives from each of the two networks and is tasked with examining all financial matters relating to the shareholder community. It examines these matters in accordance with the Group committees in these areas and issues an advisory opinion.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE