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For these processes, the risks associated therewith related with financial reporting, and
an identification of the controls established to mitigate them were reviewed.
The outcome of the assessment of these risks identified potential errors in financial
reporting which are classified in line with the following errors:
−
Cut-off
−
Integrity
−
Presentation
−
Registration
−
Validity
−
Assessment
The controls identified for each of the risks related with the ICFR are classified on the
basis of whether they are designed to prevent or detect errors and fraud in financial
reporting.
In the case of the Atresmedia Group, the companies forming the scope of consolidation
for the consolidated financial statements of the Atresmedia Group are identified.
However, a specific identification process does not exist due to the absence of
complexity in corporate organisation.
The ICFR is supervised as indicated previously by the Audit and Control Committee. In
order to provide such supervision, it works in conjunction with the Regulatory
Compliance Committee, and particularly with the Financial Department and with the
Internal Audit Department, which identify and assess the risks associated with the ICFR
and execute most of the controls existing to mitigate any risk which may arise in the
process of preparing financial reporting.
F.3
Control activities
Report highlighting their main characteristics, if they have at least:
F.3.1.
Review and authorisation procedures regarding financial reporting and description
of the ICFR, to be published in the securities markets, indicating the persons in
charge, and descriptive documentation of the activity and control flows (including
those relating to fraud risk) of the different types of transactions which may
materially affect the financial statements, including the accounting close procedure
and the specific review of the significant opinions, estimates, assessments and
projections.
The GRC (Governance, Risks and Compliance) System includes and fully identifies a
series of specific ICFR controls which have different heads charged with the
preparation and supervision of all financial information.
These controls ensure that each of the heads must perform a series of control actions
which ensure the correction of all the information published at each time.
The Atresmedia Group has established a series of procedures for the preparation and
review of the financial statements and the accounting close. The Financial
Department has established a series of steps and procedures which must be complied
with by the different department areas in order to perform the accounting close and
prepare the financial statements.
Likewise, a series of procedures and protocols have been defined at Group level,
which aim to minimise any risk related with the ICFR and ensure the published
information. The main related procedures and protocols are as follows:
−
Purchase management procedure for goods and services
−
Customer management procedure: objections, insolvencies, freezing and
unfreezing of customers
−
Purchase Committee and Investment Committee procedure
−
Delegation management procedure
−
IT security procedure
−
Approval and dispatch protocol of significant events to the CNMV
−
Presentation protocol of financial results to the CNMV