LISI 2012 FINANCIAL REPORT
137
8
DOCUMENTS SPECIFIC TO THE ORDINARY GENERAL MEETING
• On the sidelines of the Internal Control Unit, the HSE
Audit Unit (Health, Safety and Environment) coordinates
its HSE work at Group level and conducts HSE audits at
all sites. Furthermore, initiatives will be conducted jointly
with Internal Control to measure the effectiveness of the
Maintenance process at sites.
• Moreover, LISI’s General Management have set up a
centralized accounts management system. Its main function
consists of setting up a global cash pool whichmanages cash
flows and surpluses, and exchange rate risks.
• Finally, other inter-departmental initiatives have been
pursued, such as:
- The inclusion of performance indicator and cash flow tables
in the Group‘s integrated management system,
- The control of commitments to major investments,
- More systematic application of the legal review process,
- The implementation of a crisis management procedure.
• The Group deems that the internal control management
methods are satisfactory. Thanks to the Internal Control
Questionnaire deployed across the group entities, a standard
repository is now established. Internal audits will from now
on focus on a Risk Management approach, and will therefore
target either:
- those entities whose score at the Questionnaire remains
insufficient (<80%);
- those entities that joined the LISI Group recently;
- when organizational changes have been implemented;
- on topics identified as risky.
Conclusion
Initiatives taken to strengthen internal control levels have led
to recommendations being approved and carried out by the
relevant personnel and to deadline. Subsequent follow-up
procedures make it possible to ensure they are applied properly.
This constitutes a permanent progress initiative for the Group.
Relying on knowledge that can always be improved and the
strong involvement of those in charge of key processes, it
facilitates the development and improvement of internal
control over time.
Gilles Kohler
Chairman of the Board of Directors
