ANNUAL REPORT OF THE NHHOTELES, S.A. AUDIT AND CONTROL COMMITTEE
b) Revision of the information about those issues which could put at risk the independence of the account auditors. Issue of the Report on the independence of the
account auditors.
c) Revision of the periodic financial information before it is analysed and approved by the Board of Directors in order to ensure that it is reliable, transparent and
prepared applying homogenous accounting principles and criteria.
d) Monitoring of the Internal Audit Plan for the 2013 financial year examining its conclusions and implementation if applicable of the necessary correctivemeasures.
e) Revision and update of the Group’s Risks Map. Analysis and evaluation of the risks relating to the Financial Information Control System.
f) Examination of the Annual Corporate Governance Report for it is referred to the Board of Directors to be studies and approved, with particular emphasis on the
analysis of the directors and managers register.
g) Analysis of the operations with related parties in order to check, as was the case, that they were performed under market conditions.
h) Monitoring of the most significant projects performed by the internal audit team. SCIIF implementation. Continuous Audit implementation evolution analysis.
5)
Priorities for the 2014 financial year
Apart from the customary work required under the general regulations and the NH regulations in relation to the financial information to be sent to the market and the
supervision of the independence of the external auditors, the Audit Committee has examined and approved a working plan for the internal audit department for 2014
which covers the following priorities:
1.
Development of the Internal Control System of the Financial Information. Performance and periodic revision of the established system (Corporate and Spain and
Portugal Business Unit).
2.
Implementation of the Continuous Audit Project
-
Obtaining the final indicators ( KPI/KRI)
-
Use of said indicators to select the areas of risk. Implementation of the control system based on sending them to the different business centres.
-
Implementation of new work roles distinguishing the following stages:
-
Prior risk areas analysis.
-
Remote audit, requesting information, risk control through the indicators.
-
On-site audit: performance of substantive tests in the centres.
3.
Revision of the map of operative and administrative risks relating to the hotels:
-
Revision and improvement of the controls currently implemented.
-
Design of new controls, implementation in the computer tools.
4.
Monitoring of the incidents detected in the audits performed in previous years. Compliance with the action plans prepared by the different departments and
Business Units.
5.
Analysis and evaluation (Efficiency Plan) in the processes relating to the computer systems implemented in the Front of the company (Reservations, production,
invoicing). Development of controls and procedures.
To end this Report, it must be stressed that in order to perform all of the work mentioned above, this Commission has had access, whenever it was considered useful,
to all external professionals (auditors, appraisers or consultants) or members of the economic-financial, internal audit or management control departments which has
been deemed necessary.
InMadrid, on 26March 2014
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