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

A description of the scope of the evaluation of the ICSFI carried out during the tax year
and of the procedure by which the person responsible for performing the procedure
makes the results known, if the entity has an action plan that outlines possible
corrective actions, and whether its impact on the financial information has been taken
into account.
The scope of the evaluation carried out in 2011 included the supervision of the formal
implementation of the ICSFI on the part of the Economic-Financial Management, as well as the
review of the key controls in the close of accounts process and the review of the procedures for
decision-making and estimates for all units in the Amper Group in Spain.
With regard to the Elandia Group, the 2011 fiscal year was one of transition in terms of
integrating Group processes, which will continue in 2012 and subsequent fiscal years. We
should point out that the Elandia Group, which has a US parent company, was obliged to
comply with the Sarbannes-Oxley (SOX) regulations.
The 2011 evaluation process included analyses of controls for the areas that were considered
relevant within the Group and checks to ensure that these operated as intended from the
moment when they were formalised. We detected control flaws and opportunities for
improvement in the design and formalisation of some of the controls, leading to
recommendations and suggestions for improved practices.
The Internal Auditing service has a multi-year plan for supervising the ICSFI, which was
approved by the Auditing Commission at the start of the 2012 fiscal year. The Plan includes the
realisation of tests on areas that were considered relevant within the Amper Group, taking in the
totality of the same during the three-year period covered by the Plan, excluding certain areas or
processes that were considered to be especially relevant, among which were the process for
the closing of accounts and the review of decisions and estimates, the evaluation of which takes
place on an annual basis.
A description of the ICSFI supervision activities carried out by the Auditing Commission
During the 2011 fiscal year the Amper Group implemented a supervision policy for its ICSFI,
which establishes the criteria that such supervision should be ruled by, as well as the tasks
reserved to the Auditing Commission and the activities delegated to the Internal Auditing
service. Said policy reserves the following functions for the members of the Auditing
Commission:
i) Approval of the auditing plans
ii)
iii)
iv)
Establishing who is to execute them
Evaluating whether work performed is sufficient
Revising and evaluating the results and considering the effect of the same on the
financial information
v) Establishing the order of priority of the corrective actions and monitoring them
The Internal Auditing managers are responsible for supporting the Auditing Commission in its
supervision of the correct design, implementation and operation of the information and internal
control systems, including the ICSFI.
The Internal Auditing reviews included total coverage of relevant risks for 2011 for all units in the
Amper Group in Spain and placed special emphasis on risks of an operational-accounting
nature. To this end, the Group has its own risk map, which allows it to plan the work to be
performed on all of the units in accordance with the main risk parameters for each process, unit
or area, also facilitating the later development of the annual plan.