Over the past years, AXA initiated a process designed to harmonize corporate governance standards throughout the Group. This effort is focused, among other matters, on standardizing, to the extent practicable, principles relating to a number of corporate governance matters including board composition and size, directors' independence criteria, Board Committees and their roles, and directors' fees.
The group governance standards require the boards of AXA's principal subsidiaries to establish an audit committee and a compensation committe. Internal control procedures The aim of internal control is to prevent and manage the risks relating to AXA's financial protection and wealth management activities, and to ensure that accounting and financial information accurately reflect AXA's activities and situation. AXA is a French multinational insurance firm headquartered in the 8th arrondissement of Paris that engages in global insurance, investment management, and other financial services.
The AXA Group operates primarily in Western Europe, North America, the Asia Pacific region, and the Middle East, with presence also in Africa. AXA is a conglomerate of independently run businesses, operated according to the laws and regulations of many different countries. The company is a component of the Euro Stoxx 50 stock market index
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