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Define the possible business relations between the Parent and the listed subsidiary, and between
the latter and the other Group companies
Identify the mechanisms envisaged to resolve the possible conflicts of interest between the listed
subsidiary and the other Group companies:
Mechanisms to resolve the possible conflicts of interest
E
RISK MANAGEMENT AND CONTROL SYSTEMS
E.1
Explain the scope of the Company's Risk Management System, including tax contingencies:
The Atresmedia Group has a Risk Management and Control System that is frequently reviewed and
updated based on the Group's business performance, the materialisation of risks, regulatory novelties
and the evolution of the organisation itself.
It is a tool to assist in Management decision-making and to efficiently address the risks, through the
identification and implementation of controls and action plans for the risks identified, thereby
improving the capacity to generate value, and minimising the impact of the materialisation of risks.
Risk analysis and control affects all the Group's activities, and involves all organisational units. It is
therefore a corporate system in which the whole organisation participates, that must be managed by
the Board of Directors, with the functions granted in this regard to the Audit and Control Committee,
with the coordination and participation of the Regulatory Compliance Committee and of the Legal
Advisory, Internal Audit, Process Control and Financial areas.
The System’s main aim is to identify risks, perform frequent assessments and to define and apply
specific control procedures to mitigate such risks.
The main objectives of the Atresmedia Group are as follows:
1.
System coherence and homogeneity: assuring uniformity in the definition, identification and
measurement of risks in all Group businesses.
2.
Internal control corporate environment: the controls are applied by their heads in line with
their test frequency. Their effectiveness is measured, reflecting the result in documentary
form.
3.
On-going evaluation and improvement: improving the System through the assessment of
the control design, and frequently identifying new potential risks, defining and implementing
the controls required for these new risks.
4.
Define and notify Policies, Protocols and Procedures: the notification and management tool
for the business areas of the different Group companies, offering the managers and users
the internal guidelines and indications of the Group’s different control and governing bodies:
The Board of Directors, Audit and Control Committee, Regulatory Compliance Committee
and the Internal Audit and Process Control Division.
5.
Regulatory Compliance: ensuring compliance with all prevailing regulations applicable to the
different Group activities.
Based on the general objectives defined for Atresmedia’s Risk Management and Control System,
following is a definition of its key components:
i.
Definition of targets: annually reviewing and setting new targets for the Group and for each
of its business units, as well as an acceptable risk level, based on the Group’s overall
strategy and on internal and external events identified.
ii.
Internal control environment: frequently performing a re-assessment of the System to verify,
on the one hand, the manner in which Group employees perceive risks, and checking the
efficiency and functioning of the controls reducing the risks and the development of action
plans and, on the other hand, reviewing the procedural environment. In turn, an assessment
is performed of the effectiveness and design of the controls implemented in order to put