Page 56 - rsc_eng

Similarly, Internal Audit Management and a group of specialists from the audit frm conducted a review of the information systems control and security environment. In this connection, noteworthy is the obtention of the Information Systems and Control Risks Certifcation (CRISC™).

Following the instructions of the main shareholder, Mediaset, a review was conducted of the fnancial reporting processes and the controls over the reporting of the annual accounts at 31 December 2009 and the interim accounts at 30 June 2010 were analysed. Additionally, noteworthy was the fact that Internal Audit Management met on three occasions with the Comitato per il Controlo Interno and Collegio Sindicale del Gruppo Mediaset in relation to the presentation of the Annual Audit Plan and the review of its level of compliance.

With respect to compliance with Corporate Governance recommendations, in 2010 the project was started up following the “Recommendations Guide on Internal Control Systems for Financial Information” (SCIIF) for listed companies issued by the CNMV.

The project, which was promoted by the Audit and Compliance Committee, is divided into the following stages:

Stage I: Diagnosis of the current situation

Stage II: Design and development of the model of internal control system over fnancial information (SCIIF)

Stage III: Model implementation

Through the procedures established to cover certain management areas, the Regulations of the Board of Directors and Delegated Board Committees, the Internal Code of Conduct of Gestevisión Telecinco, S.A. and its Corporate Group for Trading on Securities Market, collective agreements, the necessary measures are established to avoid corruption and the relevant penalty or disciplinary measures, if appropriate.

Compliance with the procedures described is mandatory and responsibilities are established in the areas involved. Internal audit carries out regular compliance audits for verifcation.

The fraud avoidance procedure is in the draft stage and therefore the development of the anonymous complaints channel is contingent upon its fnal approval set for early 2011.

Acquisition Procedure.

Procedure for travel and travel expenses.

Procedure for control of furnishings and sundry materials.

Procedure for the purchase of rights.

Procedure for provisions of funds.

Campaign operations process.

Procedure for the operation of the Acquisition and Sales Committee.

Procedure for requesting work materials.

Customer incident settlement process.

Procedure for signing contracts.

Asset return procedure.

Advertising order processing procedure.

Procedure for the use of email and Internet .

Tangible asset control procedure .

Sustainable Management

56