As a Dutch-registered company with shares listed on NYSE Euronext Amsterdam and NYSE Euronext 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; risk management review, the external auditor’s performance, qualifications and independence; and internal audit performance.
The Audit committee is chaired by an independent member who is a long time specialist in audit activities. Its methods conform to a charter approved by the Board, updated in 2007 and reviewed annually since then.
These robust controls mean that 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.
Ever since its inception, Gemalto has 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 tools and procedures. We continue benefiting from a strong financial position with the flexibility this offers if necessary.