Client case study: Carrefour

Present in 33 countries with a turnover of more than 100 billion euros, with 471,000 staff and with 15,000 stores, the Carrefour group has become, in the space of 40 years, the second largest volume retailer in the world. With over 57% of its turnover generated overseas, notably in emerging market economies, Carrefour wanted to strengthen its external audit measures by appointing a 3rd statutory auditor.

Enhancing transparency

The Carrefour board of directors, without re-running a tender process, has asked Mazars to put forward a proposal in this regard. “The challenge of the proposal was two-fold: to develop a relevant offer on the technical and financial levels, but also to reassure Carrefour of our ability to provide and coordinate, within the group and internationally, high quality teams capable of carrying out assignments in complex environments,” states Pierre Sardet, the partner who led the team in charge of preparing the proposal.

Before being appointed, Carrefour had also decided to entrust Mazars with an assignment supporting the analysis of certain key internal control procedures in several countries including Argentina, China, France, Greece and Spain. “This mission has given us more effective insight into the group and has also presented us with the opportunity to demonstrate to the management our capacity in leading significant transnational assignments which meet the highest standards of quality and the demands of Carrefour,” adds Pierre Sardet. Following this successful project Mazars was appointed as a statutory auditor to the Carrefour group in June 2011.