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

Procedures for reviewing and approving financial information and the description of the
ICSFI to be published in the stock markets, stating who are the people responsible for
these.
The Amper Group’s procedures for reviewing and approving financial information to be
published in the stock markets begin with the revision and certification, on the part of the Head
of Finance at each subsidiary, of the financial information reported in each quarter. The
individual and consolidated annual accounts, the half-yearly financial reports, and the financial
information contained in Amper’s quarterly statements are revised and certified by the
Economic-Financial Management and then made known to the Managing Director of the Group,
before being sent for the approval of the Board of Directors. Likewise, the Auditing Commission
has established a protocol for reviewing this information prior its review by the Board of
Directors. The review protocol used by the Auditing Commission establishes that the information
is read and then discussed with the Economic-Financial Management, the Managing Director,
Internal Auditing and, when applicable, any External Auditors.
Likewise, as regards the process of reviewing and supervising the ICSFI, as stated in section 1,
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 Auditing Commission.
INFORMATION AND COMMUNICATION
A specific function that is responsible for maintaining the accounting policies up to date
(accounting policies division or department), and for resolving any doubts or differences
of opinion arising from the interpretation of the same, maintaining fluid communication
with the operational heads of the organisation.
Economic-Financial Management and, in particular, the Head of Consolidation and Reporting
are responsible for identifying, defining and updating any accounting policies that affect the
Group, as well as for resolving any doubts or differences of opinion arising from the
interpretation or application of the accounting policies in any of the Group’s subsidiary
companies.
Updated accounting policies manual to be provided to the units that the entity operates
through.
The Amper Group has a manual of accounting policies (implemented in the 2011 fiscal year)
that describes the policies to follow for the Group’s typical types of transactions. The need to
have such an accounting manual became evident in the 2011 fiscal year when the Group
acquired the company Elandia with all of its subsidiaries, given that in previous years there was
no relevant dispersion of reporting units.