Econocom - 2020 annual report

05 management report

corporate governance statement

Risks associated 5.3.5.1. with accounting systems

organises training for finance staff whenever necessary. Main transaction control 5.3.5.3. procedures In order to ensure the reliability of the financial information on transactions, the Group's Finance Department team verifies each month that the revenue and costs reportedare in linewith the flowsexpectedat the time the transactionswere approved. The Group Financial Controlling draws up regular statistical analyses to ensure that the assumptions made when the lease contracts were recorded are prudent and appropriate. The subsidiaries’ Financial Controlling teams also carry out monthly verifications for each business line. PERSONS RESPONSIBLE FOR 5.3.6. THE PREPARATION OF FINANCIAL INFORMATION The financial information is prepared under the supervision and responsibility of the Board of Directors, which, since 2004, has had an Audit Committee, the role of which is set out in section 5.5.3 below.

Risks associated with accounting systems are assessed on a regular basis with a view to implementing improvementplans. The accounting systems used within the Group have now been harmonised, and are shared by all business lines and subsidiaries except the Satellite companies in which the Group has acquired stakes, some of which still use software other than that used elsewhere in the Group, more adapted to their size. The various business line IT systems are interfaced with the accounting system in order to ensure that information on transactions is traceable, comprehensive and reliable. The consolidation system is a standard tool. Risks associated 5.3.5.2. with accounting standards in conjunction with the Group Financial Controlling Department and the Business and Country Financial Controllers, monitors changes in IFRSs and adapts the Group’s accounting principles accordingly. It also The Consolidation Department,

Ownership structure and limits on shareholder 5.4. rights At 31 December 2020, Econocom group’s share capital consisted of 220,880,430 shares, held as indicated below: 2020 2019

40.36% 55.21% 4.43% 100%

36.44% 54.00%

Companies controlled by Jean-Louis Bouchard

Public shareholders

9.56% 100%

Treasury shares

Total

131

2020 annual report