Internal ControlTo define its internal control reference matrix, structure its approach and provide for the qualification of the system, the Group draws on the framework and the application guide published in January 2007 by AMF (the French Securities Regulator) and updated in July 2010. That matrix includes the objectives and the components of the AMF framework.
The Imerys group’s internal control system covers all the controlled companies in the Group’s scope of consolidation.
By implementing this system in all its activities, Imerys intends to ensure that it has the resources needed to manage the risks that its activities face, guarantee the accuracy and thoroughness of its financial information and organize the proper management of its operations in accordance with the laws and regulations in force and the Group’s management principles and strategy. In this way, the internal control system helps to protect the Company’s value for its shareholders and employees and enables the Group to achieve the goals it sets 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 goals set, Imerys’ internal control system is founded on the following principles:
- a chosen, controlled organization comprised of skilled, responsible men and women;
- targeted internal communications;
- a regular analysis of the Group’s main risks;
- relevant control activities;
- a regular review of internal control practices in the Group.
Pursuant to article L. 225-37 of the French Code of Commerce, as amended by the law on financial security of August 1, 2003 (the "LSF law"), then by the laws of December 30, 2006 and July 3, 2008, the Chairman of the Board of Directors drew up his report on the composition of the Board and the conditions for preparing and organizing its work and on the risk management and internal control procedures set up by Imerys, on February 13, 2013.