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

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7) Description of the main features of the internal control and risk management systems
as regards the process of issuing financial information.
THE ENTITY’S CONTROL ENVIRONMENT
What bodies and/or capacities are responsible for: (i) the existence and maintenance of
an adequate and effective ICSFI; (ii) its implementation; its (iii) supervision.
Article 5 of the Regulations of the Board of Directors of Amper, S.A., establishes that the
Board of Directors is intended to be a supervision and control body and that among its duties
is to approve the risk control policy, as well as the regular monitoring of internal information
and control systems.
Furthermore, in the last quarter of 2011 the Board of Directors of Amper, S.A. approved a new
framework policy that will be the basis for any future developments of the internal control
system for financial information (ICSFI) ("Guidelines of the ICSFI of the Amper Group). Among
other issues, this framework policy places the ultimate responsibility for the existence of an
adequate ICSFI at Amper, S.A. with its Board of Directors. This policy also establishes
responsibility for its practical implementation with the Economic-Financial Management, while
its supervision is the responsibility of the Audit Commission.
What departments and/or mechanisms are responsible for: (i) the design and revision of
the organisational structure; (ii) clearly defining the lines of responsibility and authority,
with an adequate distribution of tasks and functions; and (iii) ensuring that there are
suitable procedures in place to achieve knowledge of the structure in the entity,
especially as regards the process of drafting financial information.
The performance of high-level review of the organisational structure the Amper Group is the
responsibility of the Board of Directors.
Furthermore, the Amper Group has a new policy ("Procedure for reviewing the organisational
structure”) that was approved in the last quarter of 2011, whose main aim is to establish which
reviews need to be carried out, how often and by whom in order to maintain an organisational
structure that facilitates the issuance of financial information that is exhaustive, reliable,
appropriate and timely.
Said policy establishes that the Economic-Financial Management will have to, on an annual
basis, review (i) the current structure in terms of organisation and resources, (ii) the functions
and duties of all individuals involved in the process of preparing and issuing financial
information and (iii), the compatibility of the organisational structure with the other internal
processes in place in the Amper Group.
Likewise, said policy establishes that the reviews carried out must be made known to the
corporate human resources division, which is responsible for implementing any organisational