7.4. Information and communication
The Group Communication function defines and ensures the implementation of an external communication policy and press relations policy. This function validates the external communications with potential impact at the Group level (a red line that is not to be crossed).
The Group maintains extensive communication channels that allow all relevant information to move fluidly down from top management level and up from operational level.
The communication from top management to all the employees is supported by a number of tools, such as the Group intranet or electronic newsletters, which are used in presentations by senior management to various teams throughout the world.
Besides the monthly reporting analysis prepared by the Group Controlling, the Comex makes a thorough quarterly review of the GBU performance, through the business forecast reviews.
The information systems for the whole Group are managed by Solvay Business Services. A large majority of the operations of the Group are supported by a small number of integrated ERP systems. The financial consolidation is supported by a dedicated tool.
As to the financial reporting disclosure, Solvay publishes quarterly results. Before each quarterly closing, the Group Accounting and Reporting department circulates written detailed instructions to all concerned actors.
The publication of the results is subject to various checks and validations carried out in advance:
- publication is carried out under the supervision and control of the Executive Committee
- the Audit Committee validates it, ensuring in particular that the IFRS accounting principles are complied with and that it gives a fair and relevant picture of the business of the Group
- the Board of Directors approves it.