The Internal Audit Department regularly tracks implementation of post-audit action plans by Group entities. An overall progress report is updated regularly and submitted on a quarterly basis to the Chairwoman and CEO, the Group Chief Financial Officer, and the Audit Committee. All audits are followed up within a maximum of 12 months.
In Fiscal 2022, the Internal Audit Department carried out a post-audit quality survey with all audited entities. 98% of these entities considered that the quality of audits was satisfactory.
Finally, the Internal Audit Department assesses the external auditors’ independence and reviews the annual budgets for external auditors’ fees (for both statutory audit work and other engagements) prior to their approval by the Audit Committee.
Risk management and the reinforcement of internal control are a permanent strategic priority for the Group.
Internal controls cannot provide an absolute guarantee that all risks have been eliminated. Sodexo nevertheless endeavors to ensure that the most effective internal control procedures feasible are in place in each of its entities.
In compliance with the July 2010 recommendation issued by the French securities regulator (Autorité des marchés financiers – AMF), this report is prepared on the basis notably of the “Reference Framework” produced by the French Market Advisory Group and published by the AMF.
