The Internal audit department independently assesses the internal control systems set up by the management in a range of fields. This assessment is carried out in keeping with a standardized control model and looks at the efficiency of operational processes, the accuracy of the different reportings and the integrity of information systems. The assessments take place in areas that pose a high risk to the company. The department reports directly to the Chief Executive Officer, to the members of the General Management and to the Audit Committee.

The audits conducted in 2004 entailed a certain number of financial and accountancy procedures (such as cash management, IAS/IFRS, and bank payments), as well as staff payment arrangements, trading, the delegation of powers and purchases. These audit activities were carried out in Belgium, the Netherlands, Luxembourg, France, Spain, Germany, Poland and Hungary. Follow-up audits were also organized to evaluate any changes since the 2003 audits.

On the subject of risk management, a Chief Risk Officer was appointed in October 2004. The determination of company risks and the control of risk-reduction measures are carried out in coordination with the internal audit.