IBERSOL | Annual Report 2020

ANNUAL REPORT 2020 VI.4. The supervisory body should provide its view on the work plans and resources allocated to the services of the internal control system, in- cluding the risk management, compliance and internal audit functions, and may propose the adjustments deemed to be necessary. Adopted 38, 50 and 51 VI.5. The supervisory body should be the re- cipient of the reports prepared by the internal control services, including the risk management functions, compliance and internal audit, at least regarding matters related to the approval of ac- counts, the identification and resolution of con- flicts of interest, and the detection of potential irregularities. Adopted 38, 49, and 50 to 55 VI.6. Based on its risk policy, the company should establish a risk management function, identi- fying (i) the main risks it is subject to in carrying out its activity; (ii) the probability of occurrence of those risks and their respective impact; (iii) the devices and measures to adopt towards their mitigation; and (iv) the monitoring procedures, aiming at their accompaniment. Adopted 24, 50 to 55 VI.7. The company should establish procedures for the supervision, periodic evaluation, and ad- justment of the internal control system, including an annual evaluation of the level of internal com- pliance and the performance of that system, as well as the perspectives for amendments of the risk structure previously defined. Adopted 24, 38, 50 to 55 279