Ubisoft 2014 Annual Report Download - page 207

Governance and Internal Control
2014
202
With a view to integrating and automating accounting and financial solutions, the Group implements
PeopleSoft – Oracle in its new 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 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 thus 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 Department is constantly working in collaboration with IT to improve levels of control to
ensure:
 Availability of online services and systems
 Data availability, confidentiality, integrity and traceability
 Protection of online services from unauthorized access
 Monitoring of the network against internal and external threats
 Data security and recovery
These systems are housed in our internal data centers. Security audits are carried out both upstream
and downstream within the context of our quality audit to ensure the security of the information
system.
1.8.3.3 ACCOUNTING AND FINANCIAL INFORMATION VALIDATION
PROCEDURES
Ubisoft’s accounting and financial information is prepared 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 assess 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 financial statements 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 helps to
standardize 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 this is related to the consolidated financial statements.
1.8.3.4 EXTERNAL FINANCIAL INFORMATION MANAGEMENT PROCESS
The Financial Communications Department distributes the financial information required for the
Group’s strategy to be understood to shareholders, financial analysts and investors.
All financial and strategic releases are reviewed and approved by the general management. Financial
information is published in strict compliance with market regulations and upholding the principle of
equality of treatment of shareholders.
1.8.4 OUTLOOK
The Group intends to build on the creation of the Audit Committee in order to continue expanding its
internal control system for its distribution activities by specifically focusing on increasing awareness
among its teams and managers, systematically reviewing risks and developing effective solutions that
are adapted to the teams’ requirements.