Annual Report and Consolidated Accounts 2015
implemented preventive and corrective actions for the identified risks. In order to
ensure compliance of the established procedures is performed regularly assess-
ing of the main internal control systems of the group. For specific business aspects
there are risk areas whose management has been assigned to functional depart-
ments. The internal control and monitoring of internal control systems are con-
ducted by the Executive Committee.
51. Disclosure of the relationship to other committees of the
Society in hierarchical dependence and/ or functional relation
Not applicable as the Group does not have autonomous services.
52. Existence of other functional areas regarding competences
in risk control
There are central functions (the Quality, Human Resources and Financial Units), re-
porting to the Executive Committee, that promote, coordinate and facilitate the de-
velopment of risk management processes.
53. Main Risks to which the Company and its Affiliates
are exposed
The Board of Directors considers that the Group is exposed to the normal risks aris-
ing from its activity, namely at the level of the restaurants.
Strategic and operational risks
The business is exposed to changes in macroeconomic factors and trends in con-
sumer preferences. The management of strategic risks involves the monitoring of
macroeconomic indicators, consumer trend studies, market studies of restaurants
business, consumers consultation and monitoring competition activity in the differ-
ent markets where the Group operates.
Operational risks are focused on the group’s value chain processes and operational
risks of the units, relating to the supply management (supply and logistics) inven-
tory management, fund management and efficiency and security in the use of re-
sources and assets. The suitability and scope of control procedures are monitored
and revised when necessary.
Given the nature of the business, there are certain risk areas that are assigned to
particular functional departments, notably:
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