- The CADES
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As an administrative public agency, CADES is a separate entity from the French state. It operates under the dual authority of the Minister of Economy, Finance and Industry and the Minister of Employment and Social Security, which appoint CADES senior managers and closely monitor their its operations.
The Chairman is appointed after being jointly proposed by the Minister of Economy, Finance and Industry and the Minister of Employment and Social Solidarity.
The Board of Directors is solely composed of state representatives, as follows:
The Board of Directors is assisted by a Supervisory Board made up of members of Parliament, chairmen of National Social Security Funds and representatives of the state.
The accounting rules applicable to CADES are similar to those that apply to the government sector in France. Thus, receipts and disbursements are handled by a government accountant (jointly appointed by the authorities in charge of CADES), under the supervision of the Cour des Comptes (French State Audit Office).
In addition, CADES is monitored by an expenditure commitment auditor from the Ministry of the Economy, Finance and Industry.
Moreover, all the important events in the CADES' life (budget, financial accounts etc.) are enforceable only after having been approved by the ministries in charge of the CADES' supervision. Similarly, all securities issues must have the prior approval of the Minister of the Economy, Finance and Industry.
CADES can, thanks to a convertion, give out its administrative and its management to the goverment.
Once a year, the government draws up a report on CADES' activities. This report is submitted to parliament.