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Corporate governance
Internal control
the investor relations department, Finance department and the
●
Internal controls regarding the financial communications process
Chairman and Chief Executive Officer are the sole contacts for
focus on compliance with the principle of shareholder equality, among
analysts and institutional investors;
other issues. All press releases and significant announcements are
prepared
by
mutual
agreement
between
the
Financial
the Human resources department, with support from the
●
communications department, which is part of the Finance
Communications department, manages information intended for
department, and the Group communications department.
employees;
The segregation of roles and responsibilities allows for strict
the Communications department manages press relations.
●
independence between managers, sensitive departments (e.g. mergers
In practice, financial messages are prepared through close
and acquisitions) and the Financial communications department.
collaboration between the Finance and Communications departments.
Financial communications policy
They are delivered as required by law (Shareholders’ Meeting) and
according to the regulations of the French financial markets authority
The Financial department defines and implements the policy on
(periodic publications, press releases). Furthermore, beyond its legal
disclosing financial results to the markets. The Carrefour group
obligations, Carrefour employs a wide array of media for its financial
discloses its sales (including tax) each quarter, and reports all of its
communications. The Group may utilise the press, the Internet, direct
results on a half-yearly basis. Each disclosure is first presented to the
telephone contact, individual meetings and special forums.
Board of Directors.
Procedures for controlling financial
In contrast to previous years, at the beginning of the 2015 fiscal year
communications
the Group did not issue guidance on its underlying earnings target.
However, throughout the fiscal year the Finance department checks
The Finance department is the exclusive source of financial
that the underlying earnings target provided by the analyst consensus
information.
remains achievable and, where applicable, issues a revision when
budget forecasts reveal a significant discrepancy.
2015 REGISTRATION DOCUMENT
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