Annual And Corporate Responsibility Report 2017

6.4. Risk management 6.4.1. Risk management and control system Atresmedia’s Risk Management and Control System, which is under the ultimate oversight of the Board, is a tool that assists Management in its decision-making processes. The Audit and Control Committee oversees the operation of the model and provides the Board with the information required for it to take decisions in this respect. By identifying and assessing risks and implementing controls and action plans for each situation, the system minimises the impact that might arise if a risk materialises and thus creates value throughout the Group. The scope of the system is Group-wide : risk analysis and control touches on all the Group’s activities and involves all our organisational units. Since 2015, Atresmedia uses the SAP tool known as GRC (Governance, Risk and Compliance) to systematise, classify and document the monitoring of all risks faced by the Group, as well as the associated controls. The main aim of the Risk Management and Control System is to identify risks, perform frequent assessments and define and apply specific control procedures to mitigate such risks. The specific aims are to: • Ensure consistency and uniformity when specifying, identifying and measuring risks in all the Group’s businesses. • Ensure that controls are applied in accordance with a testing schedule, measure their effectiveness and document the outcome. • Continuous improvement of the system by evaluating controls and identifying new potential risks on a scheduled basis. The controls required for the new risks are then specified and implemented. • Define and communicate policies, protocols and procedures to Group business units, offering users guidelines issued by the Group’s control and governing bodies. • Comply with laws, regulations and standards applicable to the Group’s activities. The Compliance System is a subset of the Risk Manage- ment and Control System. The Compliance System supports compliance with all laws and regulations, both specifically applicable to the sectors in which Atresmedia operates and generally applicable to listed companies. For further infor- mation, see System of compliance. 6. GOVERNANCE AND DECISION-MAKING PROCESSES  | 95 | ATRESMEDIA  |  ANNUAL AND CORPORATE RESPONSIBILITY REPORT 2017