Airbus 2015 Annual Report Download - page 160

AIRBUS GROUP REGISTRATION DOCUMENT 2015 l 128 l
Corporate Governance
4.1 Management and Control
Financial Officer and the Chief Strategy and Marketing Officer
serving as Chairmen, and a possible escalation to the Chief
Executive Officer when needed). This committee is responsible
for reviewing the proposal and giving recommendations when
necessary, based on which the concerned Business Unit is
allowed to remit its offer. In the case of Airbus, due to the
nature and size of its business, contracts are approved in
accordance with Airbus’ own corporate governance policy
based on the Company’s guidelines which follow the same
principle, with participation of the Company. In general, where
the Company shares control of a subsidiary with a third party,
the Commercial Committee is responsible for developing the
Company’s position on proposed commercial contracts.
Legal
The Company is subject to myriad legal requirements in each
jurisdiction in which it conducts business. The mission of the
Company’s Legal department, in coordination with the Division
and Business Unit Legal departments, is to actively promote
and defend the interests of the Group on all legal issues and
to ensure its legal security at all times. By carrying out this
mission it is responsible for implementing and overseeing the
procedures designed to ensure that the Company’s activities
comply with all applicable laws, regulations and requirements.
It is also responsible for overseeing all major litigation affecting
the Group, including Intellectual property.
The Company’s Legal department also plays an essential role
in the design and administration of (i)the Company’s corporate
governance procedures and (ii)the legal documentation
underlying the delegation of powers and responsibilities which
define the Company’s management and its internal control
environment.
Corporate Audit & Forensic
The Company’s Corporate Audit & Forensic department,
reporting to the CEO, provides independent assurance to the
Group Executive Committee and Audit Committee Members
based upon a risk-oriented approved annual audit plan.
The Corporate Audit & Forensic department (i)reviews the
achievement of the Group’s strategic, financial or operational
objectives, (ii)reviews the reliability and integrity of Group
reporting, (iii)reviews the effectiveness of the ERM system,
(iv)reviews the efficiency and effectiveness of selected
processes, entities or functions and (v)reviews compliance
with laws, regulations, Group guidelines and procedures.
Corporate Audit & Forensic also conducts ad hoc reviews,
performed at the request of Group Executive Committee
Members. In 2015, the Institut français de l’audit et du contrôle
internes (IFACI) reviewed the Corporate Audit & Forensic
department and certified that it fulfilled the requirements of
the International Professional Practices Framework. Corporate
Audit & Forensic also includes a team of forensic experts in
charge of conducting investigations of compliance allegations.
Corporate Sourcing
The performance of the Company is to a large extent
determined through its supply chain. Therefore, sourcing is a
key lever for the Company in its marketplace.
The Company’s size and complexity requires a common
approach to maximise market levers and to avoid inefficiencies
in the procurement process. To help ensure that sourcing is
carried out in the most effective, efficient and ethical manner,
a set of common procurement processes, which support a
common sourcing strategy and ultimately the Group strategy
and vision, is defined by the head of Corporate Sourcing and
the Group’s Procurement Leadership Team.
The common approach and processes are then implemented
and optimised across all Divisions through the Sourcing
Commodity Boards and Networks. These Sourcing
Commodity Boards and Networks comprise representatives
from all Divisions. They are tasked by the Group’s Procurement
Leadership Team to define and roll out across the Company’s
strategic sourcing topics such as Sourcing Strategy, Supplier
Relationship Management, Common Processes and Tools,
Global Sourcing, Joint Procurement, Compliance, Corporate
Social Responsibility, Procurement Academy and Procurement
Performance Management. The procurement processes are
regularly reviewed by means of performance indicators, audits
and self-assessments and thus consistently challenged and
optimised.
Ethics and Compliance
See “—4.1.4Ethics and Compliance Organisation” below.
Financial Statements 2015
11 22 33 44 55
QRegistration Document 2015
Annual Report 2015 Financial Statements 2015