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Annual report 2012 www.recope.com
Managers and directors reviewed risks during the first half
of 2012 to determine the effect of implemented measures
and measures in progress. This allowed risk map updates
for both; substantive company activities (Importing, refining,
distribution and sales); and support processes (infrastructure,
human resources, supply of goods and services for non-
ordinary activities, administration of goods and services,
financing and accounting, quality assurance, legal matters and
information technology). As a result, the necessary changes
were incorporated into the improvement plan. The effects will
be assessed in 2013.
Risk assessment was also carried out by heads of department
and project leaders of 41 processes, thus accomplishing the
goal of distributing this action on the operational levels and
cementing risk management throughout the organization.
These evaluations determined critical risks from managers´ and
directors´ perspectives, ultimately aligning risk management
with a better use of resources. These exercises lead each
department head to elaborate an action plan to manage the
risks that were rated high or extreme, in order to prevent the
occurrence of negative events and mitigate the consequences
if they occurred.
Every chief conducted a Self-Assessment of the selected process
along with risk assessment. This integrated approach helps
determine the effectiveness and simplification of controls; and
aids subordinates holders to improve their processes by the
implementing measures which decrease certain risk levels.
RISK ASSESSMENT
CONTROL ACTIVITIES
A procedure for the control of goods and services provided by
external grants was formalized in compliance with Standard
4.5.5 of the Internal Control Standards Manual for the Public
Sector and Regulation of Transport.
Following risk and self-assessment exercises, the directions
of Quality Assurance and Information Technology worked on
the revision and simplification of procedures as well as a
digital architecture project to promote more efficiency and
effectiveness in the management of documents.