Page 96 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A.
Increase in the number of women directors, reflecting the network’s commitment to gender equality.
Continued detailed information on remuneration paid to directors in the Company’s annual financial statements, as
well as in the Annual Corporate Governance Report and the Report on the Directors’ Remuneration Policy.
Verification of the Corporate Governance Report and the Corporate Responsibility Report by an independent audi-
tor (PricewaterhouseCoopers).
Mediaset España Comunicación’s efforts in 2009 were acknowledged by Observatorio de Responsabilidad Social
Corporativa, a Spanish corporate social responsibility organization, which rated it top among IBEX-35 companies in a
study of corporate governance compliance.The network was rated highly for its efforts in transparency and the degree
of compliance with the Unified Code Recommendations.
Mediaset España Comunicación, S.A. is aware of the social impact of its actions.This awareness is all the more important
at Mediaset España as a mass media, prompting the network to spearhead a variety of initiatives, such as the “12 meses,
12 causas” (12 months, 12 causes) project to make the network’s viewers more aware of a series of issues. Under the
auspices of the above initiative, Mediaset España Comunicación, S.A. created its “You are perfect for someone else”
campaign in collaboration with the a National Transplant Organization, aimed at encouraging organ donation in Spain.
Thanks to the Company’s widespread presence in Spanish homes, as well as the communication potential of its star
presenters, over 170,000 donor cards were requested as a result of the campaign.This very well accepted and effective
solidarity campaign led to Mediaset España Comunicación, S.A. winning seven awards, several of which are considered
Spain’s most prestigious.
Internally, Mediaset España Comunicación, S.A. also remains firmly committed to the training and career development
of its employees.
HEDGING
The Company uses financial instruments to hedge the impact of foreign exchange differences in connection with
transactions (primarily the acquisition of external production rights) denominated in foreign currency.These hedges are
designed to offset the impact on the income statement of exchange-rate fluctuations in outstanding amounts payable
on these transactions. Specifically, the Company buys foreign currency forward for the amounts payable so as to match
the forecast payment dates.
RISK CONTROL
As part of its general oversight function, the Board of Directors is in charge of identifying the Mediaset España’s main
risks, as well as implementing and monitoring the internal information and control, and internal reporting systems.
In addition, among the basic responsibilities of the Audit and Compliance Committee are to know and verify the
appropriateness of the financial reporting process and internal control systems.
To support and back this Committee, a Corporate Risk Management System is applied consistently at all Group
companies.This system is reviewed and updated periodically.
Corporate risk management at Mediaset España is based on the COSO II (Committee of Sponsoring Organizations of
the Treadway Comission) integrated framework for enterprise risk management.
Mediaset España Comunicación, S.A. monitors its risks permanently, assessing the relevance and potential impact on
Group companies, the probability that this risk will occur and the degree of control over the risk.