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Sodexo.com Group Internal Audit. page 2 helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and.

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Presentation on theme: "Sodexo.com Group Internal Audit. page 2 helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and."— Presentation transcript:

1 sodexo.com Group Internal Audit

2 page 2 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 Next

3 page 3 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 Next

4 page 4 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 Next

5 page 5 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 Next

6 page 6 Our Structure We maintain a staff of Auditors and 2 Admins Dedicated IT team Dedicated Motivation Solutions Team Dotted line to NorAm local Audit Team Next Direct reporting to the Audit Committee

7 page 7 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


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