Internal Control and Risk Management System

Open Fiber’s Internal Control and Risk Management System (ICRMS) consists of a set of rules, procedures, and organizational structures designed to identify, assess, manage, and monitor the Company’s key business risksAligned  with the Company’s strategic and operational model, Open Fiber has adopted a reference framework for its Internal Control and Risk Management System (ICRMS), based on the “Internal Control – Integrated Framework” developed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO Report).

Open Fiber’s ICRMS is a pillar of corporate governance system and is designed to guarantee effective risk management and accurate and continuous monitoring of corporate activities. ICRMS, aligned with best practices, is fully integrated into the organizational structure and contributes to the achievement of the Company’s strategic objectives by defining acceptable risk levels and supporting sustainable growth..

The system not only reinforces process reliability and transparency,  also builds stakeholder trust, promoting responsible, value-driven governance.

The system, its objectives, and the parties involved, along with their respective responsibilities, are described in the ‘Guidelines for the Internal Control and Risk Management System‘.

Open Fiber’s ICRMS is based on ‘three lines of defence’ and the description of the components of the framework adopted by Open Fiber is detailed in ‘Annex AUD.COMP.AL.001 – Description of the framework adopted by Open Fiber‘.

The main parties involved in the governance of the ICRMS are:

• Board of Directors
• Control and Risk Committee
• Chairman of the Board of Directors
• Chief Executive Officer
• Board of Statutory Auditors
• Supervisory Board
• Chief Audit Executive
• Second-level Control Functions
• Employees