The VINCI Risk Committee has the following members:
The business lines each have an operations monitoring system that is tailored to the specific nature of their activities and that enables them to monitor the progress of projects and contracts as well as human resources (HR) indicators. These systems are compatible with those used to prepare and process financial and accounting information as described below, as the holding company performs a consolidation for the principal indicators.
Monthly dashboard reports on business, new orders, the order book, key operating indicators and the Group’s net financial debt are prepared on the basis of information provided by the business lines.The senior managers of the business lines and divisions prepare a monthly report on key events.
The budget procedure is common to all Group business lines. It is built around five key dates in the year: the initial budget for year Y at the end of year Y−1, followed by four budget updates over the course of year Y prior to each quarterly closing. The business lines also participate in regular monitoring of VINCI’s social and environmental responsibility commitments as indicated in the “Sustainable development” chapter, page 28, and in HR monitoring, with a particular emphasis on the safety of people working at each of the Group’s sites.
All of the Group’s subsidiaries draw up business continuity plans, notably to ensure operational effectiveness when faced with a health crisis or following an extreme weather event.
For concessions, business continuity plans are put in place for each element of infrastructure under concession (airports, motorways, stadiums, tunnels, etc.). They call for measures to be implemented and for the organisation to be adapted to various crisis scenarios, including health crises.
The Budgets and Consolidation Department, reporting to the Finance Department, is responsible for the integrity and reliability of VINCI’s financial information (parent company and consolidated financial statements), which is disseminated inside and outside the Group. To ensure the statements are produced, the department is specifically in charge of:
The Budgets and Consolidation Department establishes the timetable and year-end reporting instructions for the preparation of the Group’s consolidated financial statements and communicates them to the business lines. The Group’s accounting rules and methods are available on VINCI’s corporate intranet. At each accounts closing, business lines transmit to the Budgets and Consolidation Department an analysis of the consolidated data submitted.
The Statutory Auditors present their observations, if any, on the consolidated financial statements to the Audit Committee before they are presented to the Board of Directors.
Before signing their reports, the Statutory Auditors request representation letters from VINCI’s Executive Management and senior management of the business lines.
The Group’s Audit Department conducts an annual self-assessment survey of internal control. In 2023, 606 legal entities, representing 85% of Group revenue, participated in the survey. The recurring aspects of the survey relate to the internal control environment, financial and accounting information, the environment, human rights, compliance and IT security. This year’s theme was human resources management. The survey was conducted using specialised software that also enables entities to manage their action plans. A summary of the survey’s findings, prepared by the holding company’s Audit Department, was presented to the Audit Committee in October 2023. Information on the survey’s findings is also sent individually to each business line in relation to their scope.
Each year, the business lines must provide the Group’s Audit Department with an internal control report covering their scope. These reports must contain the following information: the reference framework, the internal control environment, the personnel and organisational structures involved in risk management and internal control, the activities and audits carried out during the year, and those planned for the following year. The Chief Audit Officer presents a summary of these reports to the Audit Committee.
Each year, the Group’s Audit Department selects a project in each business line that experienced specific difficulties and asks that business line to draw up a report providing feedback. This report must describe the project, explain the difficulties encountered and what went wrong. It must also suggest improvements to the internal control system. The Chief Audit Officer presents these reports to the Audit Committee.
