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The financial communication of the Vinci group

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  1. Introduction
  2. The origins of the financial crisis: explanations
    1. Allocation of risky "subprime" mortgages
    2. Securitization of bad loans
    3. Market liquidity
  3. IFRS
    1. Traditional accounting models
    2. International standardization: is fair value "scapegoat" of the financial crisis?
  4. What is the future for fair value?
    1. Criticism of the IASB: a lack of anticipation of the adverse effects
    2. Reforms in fair value

The financial disclosure of a company is designed to provide all shareholders accurate, precise and sincere representation on the group's strategy: its location, its results and financial development. Vinci Group has adopted a financial disclosure policy that allows for better visibility with relation to its financial players.

In the document, we proceed to an identification of the internal organization allocated to financial communication, content and media used for communicating the results for the fiscal year 2008. With a turnover of 33 billion euros in an international context knocked by the crisis, the Vinci Group has had a great performance in 2008.

Vinci is the world leader in concessions, construction and related services. The group employs 158,000 employees who work on areas like finance, design, building and managing facilities to improve the lives of everyone. Since its inception, Vinci has built its development on the strategic model integrated in regard to concession and construction and a decentralized management style that promotes the performance of each company.

Vinci is organized into four operating divisions:
? Vinci Concessions
? Vinci Energies
? Eurovia
? Vinci Construction

The treatment of financial information continues a complex process which involves several organs and players in the company, i.e., financial management, management of budgets and consolidation, the audit committee, auditors, managers, accounts and executive communication. Thus, we look through the analysis of the internal organization of the Vinci group for the financial communications to identify the involvement and level of responsibility allocated to each organ in the production of interim and annual accounts.

Tags: financial disclosure policy, media, concessions, construction, performance, internal organization, Vinci group

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