AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
AMPER, SA and Subsidiaries Consolidated Financial Statements for ...
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D.1 Description of the risk policy adopted by the company <strong>and</strong>/or your group, describing <strong>and</strong> assessing the<br />
risks covered by the system, together with a justification <strong>for</strong> the adjustment of such systems to the profile of<br />
each kind of risk.<br />
Amper has a map of Corporate Risks configured as a tool to facilitate the identification, management <strong>and</strong><br />
monitoring of all the risks with significant impact on the objectives of the entity. The monitoring <strong>and</strong> updating of the<br />
Map of Corporate Risks is the responsibility of the Business unit <strong>and</strong> Internal Auditing. The Audit <strong>and</strong> Control<br />
Committee supervises <strong>and</strong> verifies this in<strong>for</strong>mation <strong>and</strong> also ensures the alignment of the risks addressed by the<br />
Company with its strategy.<br />
During the 2011 the Board of Directors of the Amper Group approved a new framework policy that serves as the<br />
basis <strong>for</strong> the internal control system <strong>for</strong> financial in<strong>for</strong>mation (ISCFI), bringing it into line with new legal<br />
requirements. Likewise, during the 2011 fiscal year the ICSFI was <strong>for</strong>mally implemented.<br />
The main risk categories included are the following:<br />
- Risks related to processes<br />
These risks are managed at Business Unit level <strong>and</strong> monitored in a centralised fashion by the Management Control<br />
Department <strong>and</strong> verified by the Internal Audit Department.<br />
The processes of an economic-financial nature are carried out in a centralised fashion under corporate criteria, <strong>and</strong><br />
the Annual Accounts of the Company, the <strong>Consolidated</strong> Accounts <strong>and</strong> those corresponding to each company<br />
participated in with sufficient weight are verified by external auditors.<br />
During the current year, some management processes have been reviewed according to the situation of the<br />
market.<br />
- <strong>Financial</strong> risks<br />
The risks of a financial nature are managed through the <strong>Financial</strong> Risk Committee, <strong>and</strong> this Committee carries out a<br />
detailed monitoring of the exposure to risk of the exchange rate <strong>and</strong>/or the interest rate <strong>for</strong> each Business Unit <strong>and</strong><br />
proposes policies <strong>and</strong> decisions on cover to the Audit <strong>and</strong> Control Committee.<br />
As regards exposure to the credit risks, Amper has a solvent client portfolio, at both domestic <strong>and</strong> international level<br />
<strong>and</strong> this is of little significance concerning the risk of credit.<br />
- Technological risks<br />
Given the activities of the Business Units of Amper, the protection of its technology <strong>and</strong> the developments is a<br />
primary milestone <strong>for</strong> the maintenance of its competitive advantage. To this end, Amper has certain criteria <strong>and</strong><br />
policies <strong>for</strong> development, contracting of staff <strong>and</strong> subcontracting activities which guarantee this protection.<br />
- Human Capital Risks<br />
As was mentioned regarding technology, Amper is aware of the need to have the best human capital in order to<br />
carry out its activities <strong>and</strong> maintain its competitive advantage, thus, all the companies of the group have a<br />
remuneration policy of a variable nature linked to professional development <strong>and</strong> the achievement of personal<br />
objectives, <strong>and</strong> so it identifies <strong>and</strong> rewards its best professionals.<br />
Also,