Internal audit, a rich source of talent
A highly efficient team with invaluable expertise, the Internal Audit department checks the compliance of entities and countries with Group standards and develops the talent of the future in the finance sector.
A dual role
Internal Audit has a dual role within L’Oréal. The first is technical: auditors are assigned to the Group’s various entities and countries to assess their compliance with L’Oréal standards. As financial experts, they work in conjunction with local teams to enable them to improve their practices. The second role is one of human relations: Internal Audit is in charge of developing the future financial talents of Group employees by enabling them to extend their network, better understand the internal workings of the entities, and improve their financial, managerial and interpersonal skills.
An inspiring human adventure
Internal Audit embodies L’Oréal’s diversity: the team is highly international, with 19 nationalities, a range of backgrounds and best-in-class for gender equality among the 35 auditors. They reflect the diversity of the Group as a whole and illustrate its global reach. Drawing on this wealth of cultural experience, the team travels all over the world for six-week assignments, consisting of one week of preparation, four weeks in the field working with the teams being audited, and one week presenting their conclusions.
Each assignment is led by a young audit leader who communicates directly with the Group’s senior management and leads a small and highly qualified team. Two audit leaders, Florencia Vazquez and Panagiotis Konstantellos, talk about their views of Internal Audit:
Florencia Vazquez and Panagiotis Konstantellos
Internal Auditors
An evolving role
The Internal Audit is benefiting from the transformation of L’Oréal and is itself changing as the Group progresses. With collaborative ways of working, auditors can spend less time in the field and obtain clearer insights from their preparatory analyses.
The issues covered by the auditors are also changing, and now include audits in areas such as media investment and the social and environmental commitments of the “Sharing Beauty With All” programme. Internal Audit tackles these new issues to ensure that progress is achieved in each entity visited, and across the Group as a whole.
