b'51Roles and responsibilities Our internal controls are also subjectof executives to various external oversight mechanisms, Our directors and executives must including external audits.be honest, fair, and ethical. While showingAn audit committee is mandated byall the integrity expected of them, they mustthe board of directors to ensure compliance also possess and develop the skills theywith sound business practices and sound need to fulfill the roles, responsibilities, and prudent management practices.and obligations incumbent upon them.Business risk management Ethics and professional conductGroupe Promutuel has a managementAn ethics committee that reportsframework that addresses all the risks to the board of directors ensures that to which it is exposed. The framework Groupe Promutuel applies a code of ethicsis administered and overseen by a variety and professional conduct that addresses of stakeholders and committees. both potential and apparent conflicts of The board of directors is responsible interest. The ethics committee conducts for determining risk tolerance levels. annual assessments of the boards integrityIt must also approve the development,and collective competence.review, and implementation of risk monitoring and control policies. GovernanceGroupe Promutuels governanceInternal controls, independentframework includes a program, policiessupervision, and operational audits and a self-assessment mechanism, Our internal controls are effective andall designed to ensure the Group follows efficient. They are based on reports frombest governance practices.the people responsible for risk management and regulatory compliance, along withany other reports drawn up for the boardof directors.A N N UA L R E P O R T 2021'