Regulatory News:
Sodexo (PARIS:SW) (OTCBB:SDXAY) is proud to have won the award for "Best
contribution by Internal Audit" at the second Internal Control Awards.
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Sodexo recognized for its culture of shared risk management
The Internal Control Awards, organized through a partnership between
BearingPoint and the French Auditing and Internal Control Institute1,
recognizes companies that have implemented the most comprehensive
risk management and internal control systems.
During the second edition of the Awards, Sodexo was singled out for its strategy
of reinforcing best practices and fostering a culture of shared risk
management. The judging panel highlighted Sodexo’s implementation of
"quarterly workshops" organized to enable the company’s country teams to
exchange on strategic issues of risk and internal control, such as
managing major client contracts. Also, the implementation of mixed teams
of "testers” (a group auditor working with a colleague from another
department) was of particular interest to the judges.
The business orientation of Sodexo’s approach, reflected by its use of a
shared, collegial process and a local network of controllers under the
leadership of the company’s Chairman and Executive Committee members,
has contributed to the strong local involvement in internal control.
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A continuous effort to improve internal control over several years
The award recognizes Sodexo’s ambitious strategy, implemented since its
adoption in 2003, to strengthen the group’s internal control system.
The judging panel provided particular recognition for Sodexo’s strategy
of involving its 391,000 employees. From the Board to the Executive
Committee and senior management, and including the finance departments
and all functional and operating teams, Sodexo’s teams are mobilized on
a daily basis to ensure that its core business is secured through
improved controls.
"All of our employees today understand the importance of internal
control for our shareholders, our clients and partners. It improves the
reliability of information communicated, enhances operational efficiency
and reduces overall risk", said Sodexo Chairman Pierre Bellon.
Sodexo’s Audit Department includes 30 auditors from 13 different
nationalities based in France, the UK and the U.S. It issued 147 reports
this year, approximately 1,500 audit recommendations and conducts
reviews, particularly of subsidiary audits on information systems
projects. The audit department spends an average of 50% of its time
working closely with operational teams on-the-ground.
About Sodexo
Sodexo, world leader in Quality of Daily Life Solutions
Quality of Life plays an important role in the progress of individuals
and the performance of organizations. Based on this conviction, Sodexo
acts as the strategic partner for companies and institutions that place
a premium on performance and employee well-being, as it has since Pierre
Bellon founded the company in 1966. Sharing the same passion for
service, Sodexo’s 391,000 employees in 80 countries design, manage and
deliver an unrivaled array of On-site Service Solutions and Motivation
Solutions. Sodexo has created a new form of service business that
contributes to the fulfillment of its employees and the economic, social
and environmental development of the communities, regions and countries
in which it operates.
Key figures (as of August 31, 2011)
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16 billion euro consolidated revenue
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391,000 employees
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21(st) largest employer worldwide
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80 countries
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33,400 sites
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50 million consumers served daily
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8.3 billion euro market capitalization (as of 19/12/2011)
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1 The Internal Control Awards are organized by the
independent business consulting organization, BearingPoint in
partnership with IFACI – Institut Français de l’Audit et du Contrôle
Interne.
www.sodexo.com
