Econocom - 2020 annual report

02 group overview

corporate governance

reviewing ▶ investigations undertaken within the Companyin responseto fraud or errors, or for any other reason, as well as decisions made by executive management on these occasions and, where necessary, formulating its own recommendations, ensuring that the systems in place ▶ within the Company and its subsidiaries to guarantee compliance with the main legal and regulatory requirements applicable tothem, ensuring the implementation of a ▶ specific system for employees to confidentially raise concerns about any irregularities in the preparation of financial information or other matters; Internal Audit 3. reviewing and making ▶ recommendations on executive management proposals relating to: the appointment and replacement ▶ of the Internal Audit manager for whom the Audit Committee has a right of veto, the annual budget allocated to its ▶ operations; defining, together with the Internal ▶ Audit manager, the control plan to be conductedduring thefinancial year, ensuringthe systematicimplementation ▶ of the Internal Audit control plan and updating itat least everysixmonths, reviewing the effectiveness of the ▶ Internal Audit function, chiefly by analysing to what extent management provides full support and applies the findingsand recommendations; the results of any

At 31 December 2020, the Audit Committee consisted of Gaspard Dürrleman, Walter Butler, Jean-Philippe Roesch and Marie-Christine Levet. The Committee is chaired by Jean-Philippe Roesch. Role of the Audit Committee 5.1.2.2.3. The Audit Committee is responsible for the tasks described below: Production of financial information 1. monitoring the process of preparing ▶ financial information and ensuring its reliability, i.e. , the accuracy, completeness and consistency of the financial statements, discussing any material financial ▶ reporting issues with the members of the ExecutiveCommitteeand with the Statutory Auditor. The Executive Management, and in particular the managing Director(s) and Chief Executive Officer(s) informs the Audit Committee of the methods used to account for material and unusual transactions when several possible approaches exist, and of the existence and justificationof activities carried out throughspecial purposevehicles, communicating the results of the ▶ statutory audit of the annual and consolidated financial statements to the Board of Directors, explaining how the statutory audit contributed to the integrity of the financial information and the Audit Committee’s role in this audit process. Internal control – risk management 2. ensuring that the risk management ▶ and control system is effective, assessing whether the systems are appropriate and, where applicable, making recommendations to mitigate any material risks,

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2020 annual report

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