Page 68 - MEDIASET ESPAÑA / 2012. Corporate Responsibility Report

68
OUR BUSINESS
Risk control systems
Mediaset España introduced its Risk Management
System in 2007, taking as a reference the Enterprise Risk
Management (ERM) of the Committee of Sponsoring
Organizations of the Treadway Commission (COSO II),
giving the company a set of rules, procedures and an
organisational structure focused on the management
of a healthy, properly run company in line with pre-set
objectives.
The purpose of the Risk Management System introduced
is the identification, control and management of any
significant risk which might affect attainment of pre-set
objectives. It also makes it possible to assess the impact
in euros of each one of the identified risks which might
possibly affect the companies of the group, the chances
of the risk occurring and the degree of control over each
one of them.
The board of directors as the highest governing body
of Mediaset España has the task of identifying the main
risks of the group and of introducing and carrying out
monitoring of the appropriate information and internal
control systems. It is thus responsible for adopting
appropriate measures in order reasonably to ensure the
introduction, maintenance and supervision of an adequate
internal control system and for the development of
improvements of that system. It is supported in its work by
the Audit and Compliance Committee. The fundamental
responsibilities of this committee include ascertaining,
checking and supervising the suitability and integrity of
the process of preparation of the financial information, of
internal control and of the risk management systems.
Internal Audit Management is for its part the internal
body responsible for promoting and supporting risk
management, ensuring for the board of directors the
supervision of the internal control system and the
assessing, controlling and monitoring of the business risks
identified and managed by each one of the companies
of the group. Internal Audit Management prepares
its Annual Audit Plan on the basis of its assessment of
existing risks and the suggestions received from the Audit
and Compliance Committee and the company business
departments, this plan being presented for discussion and
approval to the managing directors and then to the Audit
Committee itself for explanation and approval.
All business units have also been examined in connection
with risks associated with corruption.
In 2012 internal procedures were developed and adjusted
to the needs detected in the previous year in order to
comply fully with both the information requirements of
the Financial Information Internal Control System and
the risk management requirements of the amendments
to the Criminal Code. Procedures dealt with included
management of powers of attorney, notices served by the
public authorities, closing of accounts and acceptance and
making of gifts.
ANTI-CORRUPTION POLICIES
AND PROCEDURES:
Code of Ethics.
Internal Rules of Conduct.
Procedure for acquisition of
goods and services.
Procedure for purchase of rights.
Procedure of Committee for
Acquisitions and Sales.
Procedure for signing of contracts.
Procedure for travel and travelling expenses.
Procedure for making and acceptance of gifts.
Procedure for management
of powers of attorney.
Procedure for provisions of funds.
Procedure for management of property.
Procedure governing the sale
of audiovisual rights.
Procedure for resolving
incidents with customers.