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TheGroup currentlyhas reviewmechanisms inplace that reduce the risk that erroneous
financial information is reported to the market. To determine the importance and
probability of the risk of releasing incorrect information, the Atresmedia Group
evaluates the followingparameters:
−
The complexityof the transactions andof theapplicable rules.
−
The volume of transactions and the quantitative importance of the items
affected.
−
The complexityof the calculations
−
Theneed touseestimatesor projections
−
Theenforcement of judgements
−
Thequalitative importanceof the information
All the processes have been analysed and based on a risk and control model, areas for
improvement have been identified related to the contribution of evidence that formally
accredits the communications concerning changes in the consolidation scope of the
Group, confirmations of the reception of the information and the issuance of the
consolidated financial statements and the formal documentation of the revisions that
havebeen carriedout.
F.3
Control activities
Report highlighting theirmain characteristics, if theyhaveat least:
F.3.1.
Review and authorisation procedures regarding financial reporting and description of
the Internal Control over Financial Reporting (ICFR) system, 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 transactionswhichmaymaterially affect the financial statements, including the
accounting close procedure and the specific review of the significant opinions,
estimates, assessments andprojections.
The Atresmedia Group has controls in place to reduce potential risks existing in the
Group’s main operating processes. However, it intends to adapt and introduce, if
necessary, new documented controls in response to the risks connected with the
achievement of the objectives relating to the reliability of the financial information
defined in the ICFR.
The Atresmedia Group has established a series of procedures for the preparation and
review of the financial statements and the accounting close. These processes describe
the current activity flows, and a series of controls and reviews are identified to ensure
that the financial information published is correct. The review of the financial
information is carried out by both senior management and by external and internal
auditors and, in the last instance, by theAudit andControl Committee.
In addition, the control activities aremainly aimed at preventing, detecting, mitigating,
compensating and correcting the potential errors or errors that have been discovered
adequately inadvanceof the reportingof the financial information
.
F.3.2.
Internal control policies and procedures on the information systems (among others, on
access security, change control, the operation thereof, operating continuity and
