44
−
Probability: That the riskbecomes apparent regardless ofwhether the controls are sufficient
and reduce the risk toacceptable levels.
E.2
Identify theCompanybodies responsible for thepreparationandexecutionof theRiskManagement
System.
The Internal Audit andProcess Control Department is the internal body in chargeof assessingGroup
risks. This area is responsible for identifying, assessing, controlling andmonitoring the risks of the
Group's different businesses, and for evaluating the existence and functioning of the existing
controlson thedifferent areas andbusinessesof theAtresmediaGroup.
In this connection, the Internal Audit and Process Control area prepares an annual Audit Planbased
on the evaluation of the most significant risks existing. This Audit Plan includes both the periodic
activity performedby area, togetherwith those activities that are going to be carried out each year
in order to mitigate the potential risks existing in the Group's main business processes (process
reviews, area audits, implementations of procedures, launchof new controls, specific reviews, etc.).
ThisAudit Plan is submittedandapprovedby theAudit andControl Committee.
Likewise, thedegreeof progress and themost significant resultsof thoseactivities carriedon todate
are submitted regularly during theperiodicmeetings heldby theAudit andControl Committeeover
theyear.
The Audit and Control Committee, based on the work of the Audit Department, guarantees the
supervision of the RiskModel through the assessment, control and performance of riskmonitoring
of theGroup'sbusiness.
E.3
Indicate themain riskswhichmayaffect theattainment of thebusinessobjectives.
TheGroup’smost significant risks are found in the followingareas:
1.
Risks associatedwith strategy
These risks are taken tobe those arising fromexternal factors andwhich could cause changes to the
Company’s
strategyand targets. In this connection, the followinghavebeen identified:
•
regulatory changes
•
changes in competency
•
changes in the relationshipswith shareholders and investors
•
changes in the financialmarkets andothers
The Strategic Planof theAtresmediaGroup includes theassessment of these risks, and this is one of
the baseswhendefiningmeasures to be taken to offset said risks andminimize the possible impact
onvalue creation for shareholders.
2.
Operating risks
Themost significant riskshavebeen identified for themainbusinessprocesses:
−
Sale of advertising spaces and commercial policy: The Group avails itself of significant and
reliable information for analysing changes in industry demand, and anticipates such changes by
developing integral communication plans for customers which make it possible to constantly
improveon theattractionof advertising investment, inboth traditional andmore innovative forms.
Ongoing analyses areperformedon the environment andon the audiovisual industry, which include
informationon competition, legal aspects, economic trends, demographic or socio-cultural changes,
changes in viewer habits, audience ratings, etc., which make it possible to define a commercial
strategy based on ongoing interrelation with the market and with the programming and content
objectives includedon thebroadcastinggrid.
