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The Atresmedia Group’s current internal control model is applied in a homogeneous
manner in the entire organisation and encompasses a duly documented regulatory
environment. The Internal Audit area is theunit responsible for supporting and ensuring
its functioning and compliance with the established requirements, combined with the
oversight of themodel by theAudit andControl Committee. This internal control model
has been adapted to fully comply with the current requirements of the CNMV with
regard to the ICFR.
The Audit and Control Committee is the body responsible for oversight of the ICFR, and
it receives assistance from the Internal Audit and Process Control department with
regard to its implementationandmaintenance.
On 22 February 2012, a new Board of Directors' regulation was approved, which also
establishes the rules regarding the competences and functions of the Board
Committees. The new Regulationswere approved inorder to adapt their content to the
legal reforms introduced by Law 2/2011 on the Sustainable Economy, by Law 12/2010,
of 30 June, amending, among others, the Audit Law, and by the consolidated Spanish
Companies Law,with theamendments introduced thereinby Law25/2011.
This area encompasses the adaptation of the competence system and structure of the
Audit andControl Committee, in relationwith the internal control and reporting systems
inorder toensure the independenceof theexternal auditor.
Without prejudice to the functions that theRegulatory ComplianceCommitteehas been
attributed in the Internal Rules of Conduct in SecurityMarket Matters, the Committee
exclusively assumes, among others, the function of supporting and coordinating with
Internal Audit in the monitoring and supervision of the rules regarding the Internal
Control over Financial Reporting (ICFR) system.
F.1.2.
The following elements if they exist, especially with respect to that relating to the
processof preparing financing information:
•
Departments and/or mechanisms entrusted: (i) design and review of the
organisational structure; (ii) clear definition of the lines of responsibility and
authority, with an adequate distribution of tasks and functions; and (iii) whether
sufficient procedures exist for their correct implementationat theEntity.
•
Code of conduct, approval body, degree of implementation and instruction,
principles and values included (indicating whether specific mention is made to
the register of transactions and the preparation of financial information), body
entrusted with analysing breaches and proposing remedial and penalty
measures.
•
Whistleblower channel, which enables disclosure to the Audit Committee of
irregularities of a financial and accounting nature, in addition to possible
breaches of the code of conduct and irregular activities in the organisation
notifying,whereappropriate,whether the latter isof a confidential nature.
