Ubisoft 2012 Annual Report Download - page 184

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Governance and Internal control
2012
179
With a view to integrating and automating accounting and financial solutions, the Group continues to
implement PeopleSoft - Oracle in the other foreign subsidiaries. The computerization of data
exchange (interfaces between accounting systems and the consolidation system, daily integration of
banking entries, automated payment issuing, etc.), has been proven to optimize and improve
processing and guarantees greater reliability of accounting processes.
The Hyperion consolidation and management forecasting applications are used by all Group
companies, providing an exhaustive and standardized view of business activities and accounting and
financial data. They help improve the effectiveness of information processing.
Similarly, special attention is paid to the security of IT data and processing. The risk security and
management team therefore ensures constantly improving levels of control that must ensure:
Data security and recovery, if necessary;
Monitoring of the network against external threats;
The protection of online services from unauthorized access;
Data confidentiality, integrity, availability and traceability;
Availability of online services and systems.
The most important systems are housed in dedicated specialist IT centers that comply with Group
needs. Safety audits are conducted before the start of production in order to significantly improve
application security.
The IT teams are also focusing much of their efforts on documentation and training in order to improve
the relevance of accounting and financial information. The Company has acquired a modeling tool with
the specific objective of mapping the existing information system in accordance with a methodology
set as standard for all users of the tool in order to allow for improved management of documentation
and training.
1.8.3.3 ACCOUNTING AND FINANCIAL INFORMATION VALIDATION PROCEDURES
Ubisoft’s accounting and financial information is produced by the administration department, under the
supervision of the CEO, with the Board of Directors responsible for final approval.
The consolidated financial statements are subject to a limited review as at September 30 and an audit
as at March 31 by the Group’s auditors. The administration department works with the statutory
auditors to coordinate the timing and main accounting processes to allow for in the annual year-end
process.
One-off assignments during the financial year such as pre-closing reviews prior to each closing date
make it possible to forecast and examine specific accounting issues in advance. This systematic
review eases finalization at the balance sheet date and reduces the time needed to prepare the
consolidated financial statements.
At international level, the audit of the accounts in certain subsidiaries is carried out by the KPMG
network, co-auditor for the holding company. Their local representative does everything required of
him in the respective country as regards statutory auditors. This organization contributes to the
standardization of audit procedures.
The Group announces its sales on a quarterly basis and its earnings every six months.
The consolidation department also collects and verifies the accounting information to be included in
the Group’s financial releases when related to the consolidated financial statements.