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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
136
CORPORATE GOVERNANCE
3
REPORT FROM THE CHAIRMAN OF THE SUPERVISORY BOARD ON THE CORPORATE GOVERNANCE PRINCIPLES
tional information requirements (security, legal, information systems
departments, etc.).
Meetings of the Audit Committee are reasonably held when at least half
of its members participate, it being specified that members who partici-
pate in an Audit Committeemeeting by way of video-conferencing or tele-
communication, under the conditions stipulated for Supervisory Board
meetings are deemed to be present.
Decisions of the Audit Committee are made by a majority vote of the
members present.
D.
Reports to the Supervisory Board
The Audit Committee reports regularly on its activities and the perfor-
mance of its work to the Supervisory Board, and informs it without delay
of any difficulties encountered.
The reports of the Audit Committee must enable the Supervisory
Board to be fully informed on the Audit Committee’s performance of its
assignments.
E.
Information of the Audit Committee
The Audit Committee must receive all documents necessary to the
execution of its assignments, particularly from Hermès International
employees and the Statutory Auditors. In particular, it must receive
a regular summary of the work of the Audit and Risk Management
Department.
At the time of examination of the accounts by the Audit Committee, this
examinationmust be prepared and accompanied by a presentation from
the Statutory Auditors underlining the essential points not only relating to
results, but also to the chosen accounting options, together with a pre-
sentation by the Financial Director describing the Company’s exposure
to risks, and its significant unrecognised commitments.
The Audit Committee examines the Group’s budgets in a final summary
before presentation to the Supervisory Board in order to understand and
validate the strategy underlying them.
The Audit Committee may contact the Group’s main Senior Executives
as part of its remit, once the Chairman of the Supervisory Board has
informed the Executive Management.
It may, if necessary, request the intervention of an external expert to
carry out additional studies.
F.
Compensation of the Audit Committee
Compensation of Audit Committee members is defined by the
SupervisoryBoardanddeducted fromthe total amount of directors’ fees.
G.
Self-assessment of the Audit Committee
The Audit Committee periodically assesses its performance in conjunc-
tion with the self-assessment of the Supervisory Board. The members
of the Audit Committee are specifically called on anonymously through a
self-assessment questionnaire.
As part of this process, the different areas of responsibility and com-
mitment of the Audit Committee and its members are reviewed and
assessed; and any applicable recommendations for improving perfor-
mance are issued.