In order to ensure compliance with regulations affecting the Group, the Audit Committee provides support to the Board of Directors in its oversight duties, ensuring compliance with all laws and internal rules related to Amadeus. The Committee monitors compliance with the applicable rules, at the national or international level and also supervises the preparation and integrity of the Company’s financial information, reviewing compliance with regulatory requirements and proper application of accounting principles.
In addition, our group internal audit and purchasing teams carry out their own review exercises internally and externally, as explained below:
As compared to other industries, we estimate that the exposure of our providers to social and environmental risks are limited, particularly for consulting and marketing services companies; nonetheless, Amadeus has highlighted some Corporate Social Responsibility clauses in its Corporate Purchasing Policy. These clauses refer to issues such as the implementation of a corporate environmental policy or respecting human rights of employees across the world.
Our Corporate Purchasing Policy also requires that potential vendors have a proven commitment to environmental responsibility. To enforce this clause, Amadeus Corporate RFX1 document for any vendor bidding process requires all potential vendors to provide evidence of their social and environmental initiatives.
And last but not least, Amadeus performs an annual CSR survey to ensure that key suppliers are in line with our CSR requirements. In 2012, 57% of our key suppliers have gone through the CSR survey.