AMPER, SA and Subsidiaries Consolidated Financial Statements for ...

47. Listed companies have an internal auditing function available which, under the supervision of the
Audit Committee, ensures the proper functioning of the information and internal control systems.
Complies
48. The person in charge of the internal audit function must present his annual work plan to the Audit
Committee; said person must directly inform the audit committee with regard to incidents which occur in
its development, and must submit an activities report at the end of every financial year.
Complies
49. Risk management and control policy must at least identify the following:
a) The different types of risk (operative, technological, financial, legal, reputation…) which the
company confronts, including amongst economic and financial risks, indirect liabilities and other risks
not in the balance sheet;
b) The setting of the level of risk which the company considers to be acceptable;
c) The measures forecast for the mitigation of the impact of identified risks, should they come to
pass;
d) The internal control and information systems which are used to control and manage the
aforementioned risks, including indirect liabilities or risks off the balance sheet.
See caption: D
Complies
50. The following corresponds to the Audit Committee:
1. In connection with the internal control and information systems:
a) To supervise the process of creation as well as the integrity of the financial information relative to
the Company and, if warranted, relative to the group, reviewing compliance with the regulatory
requirements, the adequate demarcation of the consolidation perimeter and the correct application of
accounting criteria.
b) To periodically review the risk management and internal control systems, so that the main risks
are identified, managed and adequately recognized.
c) To ensure the independence and efficiency of the internal audit function; propose the selection,
appointment, re-election and termination of the Internal Audit Service Supervisor, propose the
budget of that internal Audit Service, receive periodic information with regard to its activities; and
verify that senior management takes into account the conclusions and recommendations of its
reports.
d) To establish and supervise a mechanism which permits employees to communicate confidentially,
and if it is considered appropriate, anonymously, with regard to irregularities of potential importance,
particularly with regard to accounting and finances, which they observe inside the Company.
2. In connection with the external auditor: