CADES' organizational structure is featured by a strict separation between the Front Office and the Back Office . It complies with the profession's accepted standards and practices.
Its internal auditing is carried out in line with the recommendations of the Banking Regulatory Committee.
CADES issues daily reports on its transactions, positions and compliance with exposure limits. It also produces a monthly report for members of the Board of Directors.
CADES' accounts are kept in accordance with the accounting principles used by French banks and finance companies. Nevertheless, CADES also complies with the rules in enforced in public sector agencies and corporations because its accounts are kept by a government accountant.
CADES' accounts are realized by an international accounting expert office which issues, each year, an opinion letter about these accounts. Those ones are certified by an accounting representant of the state revenue department.
In other words, CADES' accounts are published in two forms: first, in accordance with the standard accounting plan used by finance houses; second in the various forms specific to public sector accounting (M9-1 form).
The government order dated may, 22nd 1998 gives all the financial auditing control forms which are taken in charge by the state department. The CADES' Board of Directors must determinate all principles, rules, limitations and authorizations which are relative to the internal auditing procedures and applicable to financial institutions. It checks the respect of these dispositions, notably about these which concern market operation riskes analysis.
Furthermore, this government order entrusts an independent auditor organism with the task of doing the external auditing. This firm must valide the accounting procedures and accounts and provide a quarter activity report to the Board of Directors.