The main mission of accounting is to produce accounts and financial statements for the entity that are of high quality and that comply with group and local standards as well as the various regulatory timelines. In close collaboration with business control and the internal audit, the accounting teams must ensure that the group procedures and accounting standards are properly applied. They must also modify their organisation according to changes in accounting and tax regulations both at group and national level.
The treasury teams assess the cash-flow and exposure to currency risk of their entity and monitor the indicators throughout the financial year. They apply and check group standards for the security of means of payment and ensure L’Oréal’s financial charter is correctly applied. They also manage banking relations, with the key focuses on security and reliability.
Other corporate finance functions include financial communication, mergers and acquisitions management and group processes management.