Translation of "Financial Management Model " (English → French) :

The House Administration is implementing a more strategic approach to financial management, known as the Chief Financial Officer (CFO) model in order to put increased emphasis on the strong stewardship of public resources, and to meet fiduciary responsibilities through sound financial management practices.

(91a) In order to ensure the necessary input and better involvement of Member States when the Commission exercises its implementing powers with a regard to this Regulation in certain particularly sensitive policy areas relating to the ESI Funds and in order to strengthen the Member States' role in adopting uniform conditions in such areas or other executive measures with substantial implications or with a potentially significant impact on either the national economy, the national budget or on the proper functioning of the public administration of the Member States, the implementing acts relating to the methodology for providing information on the support for climate change objectives, the arrangements to ensure a consistent approach for det ...[+++]ermining in the performance framework the milestones and targets for each priority and for assessing the attainment of the milestones and targets, the nomenclature, based on which the categories of intervention are to be defined concerning the priority axis in operational programmes, the technical characteristics of information and communication measures for the operation and instructions for creating the emblem and the definition of its standard colours, the model to be used when submitting the financial data to the Commission for monitoring purposes as well as the models for payment applications and for the accounts, the format for notification of the refusal by the Commission of any financial contribution to a major project, the terms and conditions of the electronic data exchange to be established for official exchanges of information between the Member States and the Commission, including the information concerning Member States' responsibilities, the model for the report and the opinion of the independent audit body in connection with the designation procedures of the managing authorities and, where appropriate, of the certifying authorities, the technical specifications of the management and control system, the detailed arr ...

15. Calls for the role of the audit committees of all financial institutions to be strengthened by requiring them to approve a risk model assessment which includes firm-specific comparisons to benchmarks including reporting potential future financing needs, bank covenants, future cash flows, risk management, management estimates and adherence to major accounting principles and any foreseeable risks with respect to the company's bus ...[+++]iness model; calls for this assessment be presented on an annual basis to the executive and supervisory boards of financial institutions, along with the full audit report, for consideration and approval;

8. Stresses that a well-governed company should be accountable and transparent to its employees, its shareholders and other stakeholders; reaffirms that directors of financial institutions have to take account of their institution’s, as well as of consumers’ and employees’, long-term interests when taking decisions, in order to minimise risks; this can be accomplished by a legislative requirement for every regulated financial institution in the European Union to describe its business model in its annual report with an explanation of ...[+++] the board’s risk appetite and its understanding of the risk inherent in delivery of the business model; the report should further include a description of the steps the board has taken to ensure that these risks are overseen and managed, and of how remuneration policy is aligned to the delivery of the business model and the management by executives of the risk involved;

124. Points out that, in the research field, the Commission has increased the number of research bodies, cooperation models and management mechanisms; recalls that this is due to the considerable increase in funds made available under the financial framework 2007-2013 for research and innovation; invites the ECA to assess possible problems of transparency vis-à-vis the budgetary authority and the differing way of dealing with beneficiaries under those models; calls ...[+++]for the Director-General to give over a chapter of his AAR to each such body, model and mechanism in order to provide information on the use of funds and the outcomes sought with these public-private cooperation models;

122. Points out that, in the research field, the Commission has increased the number of research bodies, cooperation models and management mechanisms; recalls that this is due to the considerable increase in funds made available under the financial framework 2007-2013 for research and innovation; invites the ECA to assess possible problems of transparency vis-à-vis the budgetary authority and the differing way of dealing with beneficiaries under those models; calls ...[+++]for the Director-General to give over a chapter of his AAR to each such body, model and mechanism in order to provide information on the use of funds and the outcomes sought with these public-private cooperation models;