Corporate Governance
Implementing sound corporate governance principles has been a priority at AXA for many years. Both the Group's stepped-up international expansion since the 1990s and its listing on the New York Stock Exchange have contributed significantly to the implementation of corporate governance standards.
AXA reviewed its corporate governance practices to take into account the recommendations contained in the Viénot Report (1995 and 1999), the Bouton Report (2002), the Sarbanes-Oxley Act (2002), and the French Financial Security Act (2003).
AXA and its principal subsidiaries have boards of directors, audit committees and independent board members.
The sections entitled "Supervisory Board" and "Supervisory Board Committees" from the AXA Group's 2007 Annual Report, which correspond to the first part of the Supervisory Board Chairman's Report (the conditions relating to the preparation and organization of the Board), were prepared in accordance with the French Financial Security Act of August 1, 2003.
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Governance structure
In 1997, AXA adopted its current form of corporate governance, consisting of a Supervisory Board and a Management Board.
Internal control procedures
The aim of internal control is to prevent and manage the risks relating to AXA's financial protection and wealth management activities, and to ensure that accounting and financial information accurately reflect AXA's activities and situation.
More comprehensive information is available in the 2007 Annual Report.
Disclosure requirements
AXA's practices comply with French and US recommendations and regulations.