IBERSOL Annual Report and Consolidated Accounts 2017

ANNUAL REPORT 2017 II.1.2. The Board of Directors shall ensure that the company acts in accordance with its objectives and shall not delegate its responsibilities as regards the following: i) define the strategy and general policies of the company; ii) define business structure of the Group; iii) decisions considered strategic due to the amount, risk and particular characteristics involved. Adopted Part I Numbers 21 to 29 of this Corporate Governance Re- port. II.1.3. The General and Audit Committee, in addition to its supervisory duties supervision, shall take full responsibility at corporate governance level, whereby through the statutory provision or by equivalent means, shall enshrine the requirement for this body to decide on the strategy and major policies of the company, the definition of the corporate structure of the Group and the decisions that shall be considered strategic due to the amount of risk involved. This body shall also assess compliance with the strategic plan and the implementation of key policies of the company. Not applicable The corporate governance mod- el adopted does not include a Gen- eral Supervisory Board. II.1.4. Except for small-sized companies, the Board of Directors and General and Audit committee, depending on the model adopted, shall create the necessary committees in order to: a) Ensure a competent and independent assessment of the performance of the executive directors and its own overall performance, as well as of others committees; b) Reflect on the system structure and governance practices adopted, verify its efficiency andpropose to the competent bodies, measures to be implemented with a view to their improvement. Not applicable There are no spe- cialised commit- tees of the Board of Directors. Part I , Numbers 25 and 27 of this Corporate Gov- ernance Report. II.1.5. The Board of Directors or the General and Audit Committee, depending on the applicablemodel, should set goals in terms of risk-taking and create systems for their control to ensure that the risks effectively incurred are consistent with those goals. Adopted Part I Number 50 of this Corporate Gov- ernance Report. 185