sodexo.com

Group Internal Audit

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helps an organization

accomplish its objectives by bringing a

systematic, disciplined approach

to evaluate and improve the effectiveness of risk

management, control and governance process

What is “Internal Audit” ?

the review of all processes and functions within the corporation

the scope of internal auditing encompasses the

examination and evaluation of the adequacy and effectiveness of the

organization’s system of internal control

and the quality of performance

an independent, objective

assurance and consulting activity -designed to add

value and improve an organization’s

operations

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What is “Internal Control”?

“All things that help an organization achieve its objectives”

Controls for Legal requirements and to Enhance Accountability and Reporting Sodexo’s CLEAR Program enables us to determine, review, document, evaluate,

and reinforce our internal controls worldwide.

Internal control is a process within an organization designed to provide reasonable assurance regarding the achievement of the following primary objectives:

●Reliability and integrity of the information●Compliance with policies, procedures, laws, regulation and contracts●Safeguarding of assets●Economical and efficient use of resources●Accomplishment of established objectives and goals for operations programs

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What are “External Auditors”?

External auditors are not employees of the organization

● They are contracted to give an opinion on the reliability and accuracy of financial statements before publication to external stakeholders

● They assess the effectiveness of a company’s internal controls around financial reporting

● Their review can be mandatory in some countries or may be requested by official government bodies in others

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The Audit Committee

Composed of

3 Independent Board Members

Give judgment on: •the appropriateness of an entity’s reporting of financial information•application of accounting policies, financial management, compliance with law and regulations•business policies and practices •monitoring and controlling of business risks•internal control system

Objectives

•Approval of Internal Audit plan•Review of principal accounting policies applied by the Group•Transition of consolidated financial statements to IFRS •Organization of the Group finance function•Reports issued by Internal Audit department and progress reports on the implementation of internal audit recommendations •Review of Form 20F filed with the Securities and Exchange Commission•Progress reports on the "CLEAR" project•Supervision of independence and performance of external auditors

In Charge of

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Our Structure

We maintain a staff of

25-29 Auditors and 2 Admins

Dedicated IT team

Dedicated Motivation Solutions

Team

Dotted line to NorAm

local Audit Team

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Direct reporting to

the Audit Committee

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More…

Check out our Quicklink About Being an Auditor to learn more about our team and what it takes to join GIA

To learn more about what to do if your site/country is being audited or if you need the services of external auditors, click to our Quicklink Learn more about the Audit Process