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The Regulatory Compliance Committee must report regularly to the Audit
Committee regarding those matters that have been identified and investigated
through the Queries and Whistleblower Channel set up.
Training programmes and periodic updates for the personnel involved in the
preparation and review of the financial information, and in the assessment of the
Internal Control over Financial Reporting (ICFR) system, which cover at least
accounting rules, audit, internal control and risk management.
Periodically, the Atresmedia Group provides all employees involved in the
preparation and review of the financial information with the necessary training to
adequately carry out their functions. Said training is carried out through a series
of training courses planned for this purpose.
All employee training plans are integrated within the Atresmedia Group's Training
Plan, which is prepared and reviewed annually by the Human Resources Division,
based on the general training objectives defined at Group level by each
organisational area/business unit, depending on the specific training requests and
needs identified.
In this regard, the areas most related with the Internal Control over Financial
Reporting system, which are the Financial Division, the Internal Audit and Process
Control Division and the Legal Advisory Services Division, have received a series
of technical training courses related with accounting rules, risk management, tax
rules, penal compliance, etc. which enabled them to update the knowledge
required to ensure the correct functioning of the ICFR.
F.2
Evaluation of risks in financial reporting
Report regarding at least:
The main characteristics of the risk identification process, including those relating to errors or fraud,
with regard to:
Whether the process exists and is documented.
The Group currently has review mechanisms in place that reduce the risk that erroneous financial
information is reported to the market. Consequently, a process does exist to identify reporting
errors or fraud, but it is established with regard to each of the processes related with the Internal
Control over Financial Reporting (ICFR) system. In this regard, all the processes that may have an
effect on any of the Group's financial statement items were identified, establishing a scale of
impacts for the most significant items of such financial statements. The processes identified with the
greatest impact on the ICFR would be as follows:
Advertising sales
Outside production
In-house production
Billing and collections
Purchases/ Expenses and payments
Financial management
Reporting:
analysis of accounting, trading and reporting rules, preparation of
individual financial statements, consolidation and preparation of consolidated
financial statements.
Corporate
For these processes, the risks associated therewith related with financial reporting, and an
identification of the controls established to mitigate them were indicated. Accordingly,
Atresmedia has developed a risk identification system in financial reporting and a series of
controls enabling these risks related with the ICFR to be mitigated.
Whether the process covers all the financial reporting objectives (existence and occurrence;
integrity, assessment, presentation, breakdown and comparability; and rights and obligations),
whether they are updated and with what frequency.