Across the world, Mazars works with retail companies of every size, from growing private businesses to some of the largest international groups. By combining vast industry knowledge and considerable expertise in a variety of fields, Mazars’ team provides invaluable commercial insight and technical ability. Our approach is always hands-on and collaborative.
Audit | Financial requirements
Statutory auditor of the Carrefour Group
With a global presence in 33 countries, 60% of Carrefour’s revenue comes from abroad. The group is the second largest retailer worldwide. The multinational retailer appointed Mazars as its statutory auditor in 2011 to strengthen its external audit procedure. Before this appointment, Mazars conducted assessments of key control procedures for several countries including Argentina, China, Spain, France and Greece.
Aligning organizations with new market opportunities
Securing the Casino Group’s acquisition process
The Casino Group operates a wide range of hypermarkets, supermarkets, and convenience stores in France, Asia and South America, with close to 4,000 stores. Commercial partnerships and acquisitions are an important lever of development for the Casino Group to contribute to its growth and new markets strategy. Mazars’ team assisted the group with several acquisition projects, mainly related to franchisee networks, by performing financial and tax due diligence.
Securing Operations | Improving Risk Management
Establishing cash register control procedures for a large clothing and accessories retailer
With more than 500 stores and 800 cash registers, one of our clients was looking for a trusted partner that could secure cash flows and shorten delays. For this assignment, Mazars was asked to establish cash control procedures, review reported revenue, design dashboards, perform bank reconciliations and handle non-cash methods of payment.
Designing new internal control standards for logistics and supply chain activities
Mazars was selected to design new internal control standards and optimize supply chain management for a client with approximately 70 points of sale in five countries, including France, the United Arab Emirates and China. This assignment has allowed our client to improve the performance control of physical flows and financial information.
Reviewing the manual accounting entries of an international entertainment retail chain with SCAN-D™
Mazars was asked to set up flow accounting on behalf of an international entertainment retail chain. Our team analyzed the manual accounting entries by operation type, store, department, function and user with Scan-D™, our exclusive data analysis tool. A proposal to reduce the volume of manual accounting operations and to limit the number of operations that needed to be registered manually was also presented.
Assistance for a high-stakes IT project
One of our clients, a group composed of approximately 1,000 legal entities, undertook a project to reorganize its Finance Department using a reliable and effective consolidation tool. The group asked Mazars, which was already advising them with tax matters (fiscal integration, tax documentation, deferred tax reliability), to provide assistance with the migration of their IT system.
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Retail and consumer products companies face a number of challenges: intensified competition, strong pressure on margins, commodity price inflation, issues related to global sourcing, reinforcement of brand identity and the implementation of a differentiation strategy while improving the shopping experience and developing a multichannel approach, etc. The players involved are faced with major structural transformation issues. Mazars understands these issues and has gathered a global team of experts in accounting, finance, taxation and consulting with firsthand industry knowledge to help companies handle these challenges while providing added value.
Development of a legal risk management framework
One of our clients is a major actor in the retail market. Risk management is crucial to their business, since they are present in numerous countries around the world at the center of the producer/consumer value chain. They already had a structured legal team and a Risk and Compliance Department equipped with tools and indicators.
Assistance for a high-stakes IT project
One of our clients, a group composed of roughly 1,000 legal entities, undertook a project to reorganize its Finance Department using a reliable and effective consolidation tool. The group asked Mazars, which was already advising them on tax matters (fiscal integration, tax documentation, deferred tax reliability), to provide assistance with the migration of their IT system.