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Internal control: Objectives and resources
The “Soitec System” internal control process complies with AMF (the French stock-market regulator) guidelines. The system plays a vital role in managing our company. It is designed to guarantee total control over all Soitec activities and ensure efficient operations and judicious use of company resources.
An effective internal control system helps Soitec accomplish a number of crucial management tasks:
- Verifying the accounting, financial, and management information provided to Soitec executive bodies
- Ensuring compliance with laws and regulations, in particular with regard to the production of financial statements and information
- Monitoring adherence to company rules and regulations
- Positioning the company to achieve the strategic objectives set
- Improving compliance with processes and managing the major risks present in the company’s business environment
Soitec’s Finance Division steers the internal control process.
The Office of the Chairman plays an oversight role in internal control, identifying and managing major challenges and approving strategic and operational objectives. The Office of the Chairman also ensures that the company’s strategy is implemented and determines the most effective way to do so, making the necessary technology, strategy, safety, and human resources decisions.