SCHREDER - Sustainability Report 2023

Company Information

2. Risk Management and Internal Audit Schréder has an Enterprise Risk Management system in place, supported by the management team and overseen by the Audit Committee. It focuses on six categories of risk: Strategic Operational Legal and Compliance Human Resources Digital Financial Several functional experts have been appointed to cover the various categories of business risk, and they meet quarterly to identify risks, assess them and decide on mitigation measures for the most significant risks. The management team and the Audit Committee work continuously to improve the enterprise risk management framework and are responsible for implementing appropriate risk responses. Risk management is a core component of Schréder’s governance strategy and performance management process. The Board of Directors takes risk appetite into account when making decisions. The risk management programme is coordinated by the company’s internal audit department, which reports to both the CEO and the Audit Committee. As a complement to risk management, Internal Audit performs audit assignments based on an audit plan approved by the Audit Committee to ensure full compliance with our ethics and standards worldwide. Each year, internal audits are conducted across 30% of our organisation, covering the entire organisation on a three-year cycle. Any concerns and recommendations from the internal audit function are discussed with senior management and the Audit Committee at least three times a year, with the aim of continuously improving the level of internal control within the company.


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