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As a company listed on the Euronext stock exchange in Paris, Gemalto is subject to robust financial control systems which are strictly enforced. These include examination by our external, independent auditors, as well as review by Gemalto’s Board of Directors, in particular its Audit committee.
The Audit committee advises the Board on many matters. These include the quality and integrity of Gemalto’s financial statements; compliance with legal and regulatory requirements; the external auditor’s performance, qualifications and independence; and internal audit performance.
The Audit committee is chaired by an independent board member. Its methods conform both to a charter approved by the Audit committee and international professional standards (Institute of Internal Auditors). This charter was updated in 2010.
These robust controls mean Gemalto follows a deep-rooted policy of
responsible financial management. This is one of our most important business
principles, and is vital for our long-term sustainability.
Having long been financially prudent, the Company has a conservative risk
profile enabling it to weather global economic fluctuations. Taking cash flow
volatility fully into account, we have developed an appropriate financial
structure for the Company. We have also secured a good return on our investments
and devised effective risk management procedures. We are therefore now in a
strong financial position – with room to maneuver if necessary.
