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Audit

We continually look to improve our business, using internal and external audits to health-check processes.

Internal audit

The Corporate Internal Audit function is established as an independent and objective corporate function reporting directly to the Audit Committee. Its role is to evaluate and contribute to the continuous improvement of the Company’s risk management and control systems. This specifically includes the analysis and evaluation of the effectiveness of business processes and recommendations for adjustments where necessary.

Corporate Internal Audit uses a risk-based audit approach aimed at providing assurance on all relevant business processes across Givaudan entities. This approach follows a business process audit methodology that provides value to the local entities and to the Group’s management. Givaudan corporate strategy, risk management findings, past audit results, management input, changes in organisation and Corporate Internal Audit experience are the elements taken into account to build the annual internal audit plan. Effective communication and reporting ensure an efficient implementation of the audit recommendations. For specific audits of affiliates, the internal audit function is supported by dedicated staff from Ernst & Young.

The internal audit activity is reported to the full Board of Directors once a year.

External auditor

At the Annual General Meeting of shareholders on 26 March 2009, Deloitte SA was first appointed as Group and statutory auditors of Givaudan SA and its affiliates and have held the audit mandate since that time. At the Annual General Meeting of shareholders on 17 March 2016, Deloitte SA was reappointed for the business year 2016. Ms. Karine Szegedi Pingoud will replace Mr. Thierry Aubertin, as lead auditor, partner.