2007 Public Account Audit Report Key Findings – Federation
Chapter V: Key Findings of the 2007 Public Account Audit Report (Published March 2009)
The results of the 2007 Public Account Audit were communicated to the audited entities in various meetings. Unresolved issues were incorporated into the final report.
Institutions have 45 days to provide supporting documentation to address the comments. Failure to do so may result in further investigation, penalties, or legal action.
Key Aspects of the Audit Report
Following recommendations from the Vigilance Commission
Read MoreHistory of the Spanish Stock Market: From Law 24 to Modern Trading
HISTORY OF THE SPANISH STOCK MARKET
The Impact of Law 24
The current landscape of the Spanish stock market is largely shaped by Law 24 of July 28th. This groundbreaking law, with its force of law as a framework, has undergone numerous additions and revisions since its inception nearly 89 years ago. Article 15 of the Securities Market Act empowers the market to be regulated through circulars, often issued by the President of the CNMV (National Securities Market Commission).
Key Changes Introduced by
Read MoreDirect Methods of Interview & Evolution of Marketing
Direct Methods of Interview
Personal Visit
The “free door called” method is the direct presentation of the seller to the prospective buyer. This method has the advantage that the vendor is already in place for the interview. You can see the business aspect of the courtroom and ask questions while you wait.
Phone Call
This method aims to get the interview completed. The advantage is that it eliminates waiting time, the client is prepared and knows the purpose of the visit. All this represents an initial
Read MoreHistory of the Spanish Stock Market: From Public Faith to Automated Trading
History of the Spanish Stock Market
The current situation in Spain is the result of Law 24, passed on July 28, which involved a complete change from the previous system. This law was fundamental and groundbreaking. As stated in the preamble, it served as a framework, a general law that would be expanded upon. It was not exhaustive but provided a foundation for future development. Since its inception, almost every 89 years, a new decree has been added.
According to Article 15 of the Securities Market
Read MoreProcurement and Supply Management: A Comprehensive Guide
PROCUREMENT AND SUPPLY MANAGEMENT FUNCTIONS
This is the logistic function provided by a company, whether commercial, industrial, or service-oriented, to procure all necessary equipment for its operations. This process includes:
- Calculating needs
- Selection of suppliers
- The decision to purchase
- Storage
- Inventory control
The purchasing department, responsible for managing this entire process, plays a fundamental role as it significantly influences costs and, therefore, pricing. This, in turn, affects the
Read MoreMacroeconomics Principles
The Loanable Funds Market
The actions of borrowers and lenders are coordinated by the interest rate in the loanable funds market.
Short-Run Aggregate Supply
If resource prices are fixed and the product selling price rises, then profits will increase. If the actual price level is lower than the expected price level reflected in long-term contracts, many firms will find production less profitable than they had expected and will decrease the quantity of output supplied. Conversely, if the price level
Read More