Internal ControlTo define its internal control reference system and structure its approach, the Group draws on the framework and the application guide published by AMF (the French Securities Regulator). That system includes the objectives and the components of the AMF framework.
The Imerys group’s internal control system covers all controlled companies in the Group’s scope of consolidation, including newly acquired companies.
By implementing this system in all its activities, Imerys intends to ensure that it has the means, behaviors and procedures needed to manage the risks that its activities face to provide assurance concerning: the reliability of its financial information; compliance with the laws and regulations in force; the efficiency and effectiveness of its internal operating, industrial, environmental, health & safety, marketing and other processes; the protection of tangible and intangible assets, in particular the prevention of fraud.
In this way, the internal control system helps to protect the Company’s value for its shareholders and employees and to achieve the strategic, financial, compliance and operational goals that it sets for itself.
However, by its nature, such a system cannot provide an absolute guarantee as to the total control of the risks that the Group faces and the achievement of its goals.
In line with the above objectives, Imerys’ internal control system is founded on the following principles:
- a relevant organization comprised of skilled, accountable professionals;
- a periodic analysis of the Group’s main risks;
- relevant control activities.
For more information, see section 4.2 of chapter 4 of the 2017 Registration Document.