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E.6
Explain the responseand supervisionplans for theEntity'smain risks.
The responses to theexisting risks are classified into4 sections:
−
Prevent
−
Accept
−
Reduce
−
Share
In accordancewith the selected response, action plans are developed to bring the preliminary evaluation
of the risk in linewith the accepted risk and the Group's tolerance to risk. The aforesaid action plans are
designed with the heads of the Group’s business areas and divisions and are supervised by the Internal
Audit andProcess Control Departmentwithin the frameworkof theAnnual Auditing Plan, which theAudit
andControl Committeeapproves and supervises regularly.
Inorder toensure that responses to risks effectively carryout control activities:
Tests areperformed to verify thedegreeof efficacyof the controls.
New control andmonitoringprocedures aredesigned.
Improvements toestablished control procedures are implemented.
Periodically review theexisting risks and controls.
In addition to its adequate separation of functions and authorisation levels for operations, the Group
avails itself of tools to carryout control activities, suchas:
Regulations andprocedures applying toemployees.
Internal ruleof conduct in securitiesmarketmatters.
Ethical code
Codeof Conduct
Whistleblower channel
Procedures relating to theacquisitionof products and services.
Procedures relating tonegotiatingand sellingadvertising.
IT tools:
Riskmanagement system
Salesmanagement system
Purchasingmanagement system
Contractingproposalsmanagement system: authorisations for all contracting
of services in theGroup
Quality System
F
INTERNAL CONTROL AND RISK MANAGEMENT SYSTEMS IN RELATION WITH THE ISSUANCE OF THE
INTERNALCONTROLOVERFINANCIALREPORTING (ICFR) SYSTEM
.
Descriptionof themechanisms of the control and riskmanagement systems in relation to theprocess of the
issuanceof the Internal Control over Financial Reporting (ICFR) systemof its Entity.
F.1
TheEntity's control environment
Report highlighting itsmain characteristics regardingat least:
F.1.1.
Whichbodies and/or functions are responsible for: (i) the existence andmaintenance of
an adequate andeffective Internal Control over Financial Reporting (ICFR) system; (ii) its
implementation; and (iii) its supervision.
