Company information
2. Risk management & internal audit An Enterprise Risk Management system is in place at Schréder, supported by the management team and overseen by the Audit Committee. It focuses on six risk categories:
Strategic Operational Legal and Compliance Human Resources Digital Financial
Several functional experts covering the various categories of enterprise risks were identified, and meet quarterly to identify the risks, assess them and decide the mitigation actions on the most significant ones. The management team and the Audit Committee are continuously working to improve the enterprise risk management framework and are responsible for the implementation of appropriate risk responses. Risk management is a core component of Schréder’s governance strategy and performance management process. The Board of Directors considers risk appetite 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. In complement to the risk management exercise, the Internal Audit Department performs audit assignments based upon an audit plan approved by the Audit Committee, to ensure full compliance with our ethics and standards across the globe. Each year, internal audits are conducted across 30% of our organisation, so that the whole organisation is covered in a 3-year cycle. Eventual concerns and recommendations from the Internal Audit Department are discussed with the Company’s management and with the Audit Committee, at least three times a year, with the aim to continuously improve the level of internal control within the Company.
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