Corporate Governance Report
Legal
Ibersol and its businesses have a legal function, which works full-time, in coordination with
the other central and business functions, in order to preventively protect the Group’s interests,
while ensuring strict compliance with the Group’s legal and obligations.
Legal advice is also obtained, at national and international level, by recognized outside experts.
Sector-specific
The recovery of private consumption, after the severe disruption seen in recent years, mainly
in Portugal, will continue to affect sales in restaurants. To mitigate the impact on its results,
the company has implemented rigorous cost control, with monthly monitoring of market
trends and subsequent reviews of resource planning, in order to mitigate the impact of the
consumption reduction.
Operating as it does in the food service business, the company is also subject to the risk of
epidemics, disruptions in raw materials markets and changes in consumption patterns, which
can have a material impact on the financial statements.
54. Description of the identification, assessment, monitoring,
control and risk management process
Risk management is carried out with the aim of creating value by managing and controlling
uncertainties and threats that could affect Group companies from a business continuity per-
spective.
In the context of strategic planning, the risks of the business portfolio, as well the risks of
development of new businesses and the implementation of the most important projects are
identified and assessed, and strategies to manage those risks are defined.
At operational level the risks affecting the objectives of each business are identified and
assessed, and actions are planned to manage those risks. These actions are included and
monitored through the plans of the individual businesses and functional units.
As regards the risks to the security of tangible assets and persons, policies and standards
have been established and are monitored to ensure compliance. All units are subject to ex-
ternal audits and preventive and corrective measures are taken in respect of the risks that
have been identified.
To ensure that the established procedures are followed, the Group’s main internal control
systems are evaluated periodically.
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