Afin de réaliser des statistiques de visites et d'améliorer l'expérience utilisateur sur notre site, nous mesurons son audience grâce à une solution utilisant la technologie des cookies.

En naviguant sur ce site, vous acceptez l'utilisation des cookies de mesure d'audience. Pour en savoir plus et paramétrer les cookies

We use cookie technology to measure our online audience in order to compile statistics on website visits and improve the browsing experience for our website's users. 
By using our website, you consent to the use of cookies for audience measurements. Click here for more information on cookies and how to set your preferences

audit committee

Members (at 4 Dec.2019)

  • Patrick Valroff (Chairman)
  • Nathalie Andrieux
  • François David
  • Xavier de Sarrau
  • Aline Sylla-Walbaum

Audit Committee members are appointed for their financial and/or accounting skills, assessed with particular regard to their past career (positions held in general or financial management or in an audit firm), academic background or specific knowledge of the Company's business. The expert knowledge of the members of the Audit Committee is described in section 2.1.5.A of the Reference Document.
All the Audit Committee's members are independent.

Main tasks

The Committee applies all of the recommendations contained in the AMF working group's report of 22 July 2010, with the exception of those that it does not deem relevant with regard in particular to the tasks specific to a Supervisory Board of a French partnership limited by shares (société en commandite par actions - SCA), and thereby:

  • reviews the accounts and the consistency of the accounting methods used for the Lagardère SCA parent company and consolidated financial statements, and monitors the process for preparing financial information;
  • monitors the audit of the parent company and consolidated financial statements by the Statutory Auditors;
  • monitors the Statutory Auditors' independence;
  • issues a recommendation on the Statutory Auditors nominated for re-appointment at the General Meeting;
  • monitors the effectiveness of internal control and risk management systems and where applicable internal audit, as regards accounting and financial reporting procedures;
  • ensures that the Company has internal control and risk management procedures, particularly procedures for (i) risk assessment and management, and (ii) compliance of Lagardère SCA and its subsidiaries with the main regulations applicable to them. The Audit Committee is informed of any observations and/or suggestions from the Statutory Auditors regarding these internal control procedures;
  • monitors the implementation of measures to prevent and detect corruption;
  • examines all matters pertaining to internal auditing of the Company and its activities, the audit plan, organisation, operation and implementation;
  • reviews agreements directly or indirectly linking the Group and the senior executives of Lagardère SCA. Readers are reminded that the executive corporate officers' salaries are paid by Lagardère Capital & Management, which is bound to the Group by a service agreement. The appropriate application of this agreement, which has been approved by the Board and the shareholders as a related-party agreement, is monitored regularly. The Board has delegated this task to the Audit Committee, which includes the amount of expenses reinvoiced under the contract, essentially comprising the Managing Partners' remuneration.

In application of its internal rules, the Audit Committee meets at least four times a year.

The Chairman of the Audit Committee reports to the members of the Board on the work conducted by the Audit Committee. The members of the Audit Committee interview the Group's main senior executives when necessary, and the Statutory Auditors also present a report on their work. In addition, Audit Committee members reserve the right to interview the Statutory Auditors without Management in attendance and to consult external experts.

Main activities in 2018

During 2018, the Audit Committee met five times with an attendance rate of 100%, it being specified that two meetings to review the annual and interim financial statements were held more than five days before the Supervisory Board's meetings.

  • The meeting of 1 March involved a review of the impairment tests on intangible assets for the purposes of the financial statements for the year ended 31 December 2017, as well as a review of the Group's 2017 consolidated financial statements. It also reviewed relations with Lagardère Capital & Management (LC&M).
  • On 24 May, the Committee focused on the Group's internal audit activity during the first half of 2018 and reviewed the fees of the Statutory Auditors. The Audit Committee were also reminded of the professional conduct and independence rules of the Statutory Auditors, as well as the audit approach for the year to come. The Group's risk map was presented to the Committee.
  • On 25 July, the Committee reviewed the Group's consolidated financial statements for the first half of 2018 and was presented with the results of the internal control self-assessment.
  • The meeting of 4 October was held to present the Group's IT security processes and the findings of its IT security survey conducted in 2018. A presentation was also given on the Group's financing policy.
  • Lastly, at the meeting of 20 November, the Committee reviewed internal audit activities during the second half of 2018 and the audit plan for 2019. It also received a progress update on the Group's Compliance program and on disputes and claims. Lastly, the Committee was briefed on the latest developments in the IFRS 16 project.

When the Audit Committee reviewed the financial statements, the Chief Financial Officer gave a presentation of the Group's risk exposure and significant off-balance sheet commitments.

These meetings took place in the presence of the Chief Financial Officer, Internal Audit Director, Risk and Internal Control Director, and the Statutory Auditors. Depending on the issues discussed, other executives, including the Secretary General, Accounting Director, Group Management Control Director, Group IT Director, Group General Counsel and Group Treasury and Financing Director, as well as certain members of their teams, were asked to provide input on an as-needs basis.


Lagardère Investor Day

Wednesday, March 25, 2020 - 2:00 pm

Arnaud Lagardère Editorial

"We achieved our objectives in 2018, delivering revenue and recurring EBIT in line with our forecasts, as in previous years. ..."
Learn more

The group's activities

The Lagardère group is a global leader in content publishing, production, broadcasting and distribution, whose powerful brands leverage its virtual and physical networks to attract and enjoy qualified audiences.
The Group's business model relies on creating a lasting and exclusive relationship between the content it offers and its customers.
It is structured around four business divisions.


Learn More

Financial information

The group's financial results, stock price, latest news, the calendar of upcoming events... Access all financial information related to Lagardère.