Within internal audit, corporate & legal affairs different key corporate activities are taken place.
The mission of the Internal Audit Department is to provide independent and objective assurance and consulting services that add value and improve the organisation’s operations. It helps the organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of the control, governance and risk management processes among others.
Within Daikin Europe, the Internal Audit team conducts audit engagements, at entity or process level, following a risk-based audit plan and report to the result of these assessments to the Audit Committee, Board of Directors and local Management.
The Corporate Planning division has as mission to safeguard and manage profitability, via periodic reporting to the board of Directors & top management, by having a close follow-up of the results and by proposing countermeasure actions. Furthermore, the department is responsible for the development and implementation of corporate governance and internal controls in the group, based on feedback coming out of the internal audits;
This division consists of several sections: Group Controlling, Business Analytics, Planning, Corporate Communication as well as Internal Control and SAP authorization office. These teams together coordinate the budget-making and execution for Daikin in the entire EMEA region (a turnover of more than 4 billion EUR). The department is responsible for drilling down the strategy into annual budgets and realizing the group targets. This is done in cooperation with all sales and manufacturing entities, as well as with other departments. As a backbone for group-wide reporting, the department takes care of the management of the sales-, margin-, and pricing data, as well as collecting and reporting market intelligence.
The Daikin Europe legal department has as mission to safeguard legal compliancy of the Daikin Europe Group. The department overlooks the general legal support within the Daikin Europe Group. They are monitoring and ensuring that the Group’s various activities are consistent with (national and/or international) laws and regulations, as well as GDPR compliant. The legal department also screens complex contracts and delivers assistance in various projects including M&A, as well as identifying (legal) risks, internal and external, which can cause a negative impact on the Daikin business and image.
The Strategic Planning Department is also part of the Corporate Affairs Division. Besides strategic planning, this department is also responsible for Market Intelligence Activities across EMEA, Mergers and Acquisitions, Post Merger Integration activities. Together these span the full strategy process, from strategy development to follow-up of execution for organic and inorganic growth.
