50 PRISA, a global group aspects of a scientific, graphic, editorial or production nature. The committees meet regularly and are based nationally (management, editorial, sales, etc.) and globally (for each of the countries; the countries grouped together; and for countries that belong to a specific editorial development program). The corporate center coordinates the committees for global content (weekly, monthly or by project, and these are detailed in reports). Santillana ensures that in all countries its publishers comply with the corresponding official curricula in both regular retail products aimed at private schools, and in terms of public tender regulations. The basic thrust of each editorial project is prepared in advance, in accordance with the editorial style manuals. PRISA’s media have institutional channels which are permanently open to suggestions, criticisms and complaints, and they organize tours of offices and facilities. They are attentive to the concerns of different social groups and stakeholders and encourage the exchange and debate of ideas, which serves to enrich society as a whole. Stakeholders can submit their enquiries, suggestions and concerns to the Corporate Center through the Communications Department, the Investor Relations Departments and the Shareholder Services Office. Our governance structure and risk management PRISA’s System for Risk Management has a pyramidal structure, with the identification of risks taking place at the base by the managing bodies of the business units. Data are then consolidated at the corporate level and brought together and dealt with by the Internal Audit, which reports the results periodically to the Audit Committee. This Committee is entrusted with the evaluation of all matters relating to non-financial risks of the company –including operational, technological, legal, social, environmental, political and reputational risks– and raises issues of relevance to the Board, which in turn determines and oversees policy on control and risk management of the organization. A description of the most significant risks and impacts for the Group, as well as details of the procedures for their identification, assessment, analysis and management, are set out in the Annual Report for the year, as well as in the Annual Corporate Governance Report and the Annual Report of the Audit Committee. Compliance and ethical code PRISA has been firmly committed, from the very outset, to a robust and professional communications sector, based on control mechanisms that guarantee transparency and respect for the established codes. Since the beginning, Group companies have adopted a wide range of rules, statutes and mechanisms to ensure the proper functioning of our teams in their daily work of creation and supervision of our content and products. In 2015, we have made progress in raising awareness internally of the significance and the impact that each of PRISA’s stakeholders might have on its reputation. We believe that the performance of the company depends on commitment to and individual engagement with these guiding principles and values. Compliance unit In response to new regulatory requirements, PRISA is strengthening its compliance structure. To this end, in 2015, a compliance unit was established, en
Memoria 2016 EN_PRISA_20160315_V4 baja
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