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Responsibilities
The main responsibilities related to the Risk and Control Management System are
summarised in the following section:
Business units and corporate
units
Responsible for the controls, evaluation and supervision.
Compliance with regulations: external and internal (policies, standards and procedures).
Finance department
Responsible for most of the financial controls and the Internal Control System for
Financial Reporting (ICFR).
Compliance with policies and standards related to budgets, accounts and financial
statements, and financial reporting.
Legal affairs department/board
secretary
Responsible for most of the compliance and Corporate Governance controls.
Regulatory compliance
committee (RCC)
The body that monitors the Group’s regulatory compliance.
Responsible for monitoring the Code of Conduct, the Enquiries and Complaints Channel
and the Internal Regulations in issues of the securities market.
Criminal compliance manager
Responsible for the introduction and monitoring of the Group’s Criminal Compliance
Model.
Internal audit
Coordinates and administers the Risk and Control Management System. Designs policies
and procedures and identifies new controls.
Test controls and reports to the Audit and Control Committee.
The Audit and Control Committee is
responsible for supervising the system’s
operation and reporting to the Board
of Directors so that the action plans or
new measures to be implemented can be
approved or amended, as appropriate.
Key components of the Risk and
Control Management Model
The Risk and Control Management
System at Grupo
Atresmedia
has various
key components:
•
Definition of the objectives
: New
objectives for the Group for each of its
business units are revised and set each
year, along with the acceptable level of
risk given the Group’s global strategy
and the identified internal and external
events.
•
Internal control environment
: An
assessment of the model is regularly
conducted in order to verify, on the
one hand, how staff at the company
perceive the risks, the establishment
of controls that mitigate the risks
and the development of action plans
and, on the other, the environment in
which it acts. In turn, an assessment
is conducted of the effectiveness and
design of the controls implemented
in order to introduce new ones or
mitigate any impact. The risks are
regularly reassessed in order to check
that their control is effective.
•
Regulatory compliance
:
Atresmedia
has established a regulatory
compliance model that ensures
compliance with all the regulations,
both those specific to the sectors in
which it operates as well as generic
ones that may affect it due to being
a listed company or just generally
(labour, tax, environmental, etc.). There
are also a series of internal policies
and protocols that are equally binding
for the areas and businesses affected
by them. The System supervises this
compliance through specific controls.
•
Processes
: In order to be able to
identify the risks that impact to a
greater extent on one business process
ATRESMEDIA
| ANNUAL AND CORPORATE RESPONSIBILITY REPORT 2015 |
ATRESMEDIA
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