IBERSOL | Integrated Management Report - 2024

INTEGRATED MANAGEMENT REPORT 2024 respective risk components, being essentially qualitative in nature. To ensure compliance with the established procedures, the Group’s main internal control systems are evaluated periodically. 55. Main elements of the internal control systems and risk manage- ment implemented by the company regarding the financial disclosure process.. The Company does not have any internal audit services reporting directly to the Supervisory Board (given the classic model adopted), the necessary compliance services being ensure by the individual departments of the company. Considering that, organically and functionally, the different Directions of the Group direct the “compliance” services in articulation with the Board of Directorsand theSupervisoryBoardandbeing the respectiveheadsof these different Directions duly identified in the Company’s organization chart, it is important to restate that they act in interaction with the Board of Directors and the Supervisory Board, regardless of the hierarchical relationship that these Departments maintain with the Executive Management of the Company. The External Audit assesses and reports the risks of reliability and integrity of the accounting and financial information, thus validating the internal control system established in the Group and which is materialized in the clear separation between those who prepare and their users and in the performance of various procedures of validation throughout the process of preparing and disclosing financial information. In the course of auditing the financial statements of Ibersol, SGPS S.A., the Statutory Auditor conducts a review of the internal control system procedures, with the scope and depth deemed necessary to fulfil the objectives of issuing an opinion on the consolidated financial statements. The Statutory Auditor meets with the various Departments of the Group at least twice a year. The Statutory Auditor reports to the Board of Directors and the Audit Committee any relevant matters that come to their attention in the context of such work. Regarding the risk in the process of financial information disclosure, only a restricted number of employees is involved in the disclosure process. All those who are involved in the process of consolidated financial analysis of the Company are considered to have access to inside information and are specially informed of their obligations in this precise scope. 293