APC 2014 Annual Report Download - page 169

CORPORATE GOVERNANCE
INTERNAL CONTROL AND RISK MANAGEMENT
each subsidiary’s responsibility for implementing procedures
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the integration of statutory and management reporting systems
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providing an adequate level of internal control; developed to guarantee the completeness of transaction data
recorded in the accounts;
defining levels of responsibility for authorizing and checking
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transactions; all of the subsidiaries apply IFRSwith regard to recognition
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principles, measurement and accounting methods, impairment
segregating tasks to help ensure that all transactions are
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and verification;
justified;
the checks and analyses as described above performed by the
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Management Control and Accounting unit.
Report of the statutory auditors on the internal control procedure 9.7
This is a free translation into English of a report issued in French
Information on the internal control and risk
management procedures relating to the preparation
and it is provided solely for the convenience of English speaking
and processing of accounting and financial
users. This report should be read in conjunction with and
information
construed in accordance with, French law and professional
standards applicable in France. The professional standards require that we perform the necessary
Statutory Auditors' Report, prepared in
procedures to assess the fairness of the information provided in
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the Chairman's report in respect of the internal control and risk
management procedures relating to the preparation and
accordance with article L. 225-235 of French
processing of the accounting and financial information. These
Commercial Code (Code de commerce), on the
procedures consist mainly in:
report prepared by the Chairman of the Board of
obtaining an understanding of the internal control and risk
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Directors of Schneider Electric S.E.
management procedures relating to the preparation and
processing of the accounting and financial information on which
To the Shareholders, the information presented in the Chairman's report is based and
In our capacity as statutory auditors of Schneider Electric S.E. and of the existing documentation;
in accordance with article L. 225-235 of the French Commercial obtaining an understanding of the work involved in the
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Code (Code de commerce), we hereby report on the report preparation of this information and of the existing
prepared by the Chairman of your company in accordance with documentation;
article L. 225-37 of the French Commercial Code (Code de
commerce) for the year ended December 31, 2014. determining if any material weaknesses in the internal control
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procedures relating to the preparation and processing of the
It is the Chairman's responsibility to prepare and submit for the accounting and financial information that we would have noted
Board of Directors' approval a report on the internal control and in the course of our work are properly disclosed in the
risk management procedures implemented by the company and to Chairman's report.
provide the other information required by article L. 225-37 of the
French Commercial Code (Code de commerce) relating to matters On the basis of our work, we have no matters to report on the
such as corporate governance. information relating to the company's internal control and risk
management procedures relating to the preparation and
Our role is to: processing of the accounting and financial information contained in
report on any matters as to the information contained in the
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the report prepared by the Chairman of the Board of Directors in
Chairman's report in respect of the internal control and risk accordance with article L. 225-37 of the French Commercial Code
management procedures relating to the preparation and (code de commerce).
processing of the accounting and financial information, Other information
confirm that the report also includes the other information
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We confirm that the report prepared by the Chairman of the Board
required by article L. 225-37 of the French Commercial Code of Directors also contains the other information required by article
(Code de commerce). It should be noted that our role is not to L. 225-37 of the French Commercial Code (code de commerce).
verify the fairness of this other information.
We conducted our work in accordance with professional standards
applicable in France.
Courbevoie and Paris-La Défense, March 13, 2015
The statutory auditors
French original signed by
MAZARS ERNST & YOUNG et Autres
David Chaudat Yvon Salaün
167
2014 REGISTRATION DOCUMENT SCHNEIDER ELECTRIC