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Based on the analysis of the risk response adopted, and on the degrees of materialisation of the risks
disclosed, alternative action plans are implemented which define the measures to be implemented based
on the scenario envisaged when the risk materialises. These scenarios are above all those which arise
from the consideration of different forecasts in the following areas:
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Regulatory and Competition
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Market
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Technology, particularly related with the performance and processing of the business' value
chain, the contents and with the behaviour of spectators/users.
F
INTERNAL CONTROL AND RISK MANAGEMENT SYSTEMS IN RELATION WITH THE ISSUANCE OF
THE INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR) SYSTEM
.
Description of the mechanisms of the risk management and control systems in relation to the process of
the issuance of the Internal Control over Financial Reporting (ICFR) system of its entity.
F.1
The entity's control environment
Report highlighting its main characteristics regarding at least:
F.1.1.
Which bodies and/or functions are responsible for: (i) the existence and
maintenance of an adequate and effective Internal Control over Financial Reporting
(ICFR) system; (ii) its implementation; and (iii) its supervision.
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 body responsible for the supervision of the Internal Control over Financial
Reporting (ICFR) system is the Audit Committee, which relies on the activity of the
Internal Audit and Processes Control Committee for its implementation and
maintenance.
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 Regulations were approved in order 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 the amendments introduced therein by
Law 25/2011.
This area also encompasses the adaptation of the competences system and the
structure of the Audit Committee, in relation to the ICFR. Specifically, the Audit
Committee's competences in respect of the ICFR include:
i.
Supervision of the integrity, preparation and presentation of the financial
information relating to the company and, where appropriate, to the group, reviewing
compliance with the regulatory requirements, the adequate definition of the
consolidation scope and the correct application of accounting policies.
ii.
This Committee must periodically supervise the internal control and risk
management systems, in order that the main risks are adequately identified,
managed and notified, discussing with the Auditor or Audit Company the significant
weaknesses of the risk control system detected in the performance of the audit.
iii.
Oversight of the independence and effectiveness of the internal audit function;
proposing the selection, appointment, re-election and removal of the internal audit