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

information to be submitted by the Amper Group we will evaluate the existence of risks
that need to be added to those already identified).
- Types of risks: The risks to be highlighted in the risk identification process put in place
by the Amper Group break down as follows:
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Risks of a general nature: these affect the organizational structure and might
potentially affect all of the processes related to the preparation of financial
information.
Risks relating to the proper registering of the Group’s specific operations.
Risks relating to the process of preparing regular and regulated financial
information.
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Risks relating to the IT systems used by the Amper Group.
As is evident from the different types of risks (quantitative and qualitative) covered by the “Policy
for Identifying The Risk of Errors in the Financial Information of the Amper Group”, the Group
considers the possibility of the risk of errors existing in certain processes that are not linked to
specific types of transactions, but which are especially relevant bearing in mind their importance
in preparing reported information (such as the closing process, the process involved in operating
information systems, reviewing significant decisions and policies, among other processes).
Among these is the consolidation process, which is why the Amper Group has established
procedures aimed at ensuring both the correct configuration and execution of the process, and
the correct identification of the consolidation perimeter (said procedures are part of the
corporate closing of accounts Procedure). It should also be noted that the process of identifying
risks includes the possible effects of other types of risks (operative, technological, financial,
legal, reputational, environmental, etc.) inasmuch as these could affect the financial statements.
CONTROL ACTIVITIES
Documentation describing the flow of activities and controls (including those relating to
the risk of fraud) for the different types of transactions that could affect the financial
statements in a material way, including the procedure of closing the accounts and the
specific review of relevant decisions, estimates, valuations and projections.
With regard to activities and controls relating directly to transactions that might have a material
effect on the financial statements, the Amper Group has established controls to mitigate the risk
of material errors (intentional or otherwise) in the information reported to the markets. During
fiscal year 2011 we revised, updated, formalised and documented our control activities in
accordance with the recommendations of the Spanish Securities and Exchange Commission in
its Guide for preparing descriptions of the internal control system for financial information, this
process being fully applicable to the account closing process.
Said descriptions contain information on what the control activity should consist of, what it is
being executed for, who should execute it, how often, as well as any other information on which
information systems or which activities carried out by third parties are relevant for the efficacy of
the corresponding control activity.