Company: BCDRF
Filing Date: 2025-03-03
Form Type: 6-K
Source: 0000891478-25-000057
Chunk: 57

Company: Banco Santander, S.A.
Filing Date: 2025-03-03
Form: 6-K
Chunk 57
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 adequacy and reputation. It evaluates: • The efficacy and efficiency of the processes and systems referred to above. • Compliance with applicable legislation and the requirements of supervisory bodies. • The reliability and integrity of financial and operating information. • The integrity of capital. Internal Audit is the third line of defence, acting independently. Its scope of work encompasses:

68 2024 Pillar 3 Disclosures Report

| Index |     | Introduction |     | Capital |     | Risks |     | Risk taker's remunerations |     | Appendices |

• All group entities over which the group exercises effective control.

• Separate asset pools (for example, investment funds) managed by the entities mentioned in the previous section.

• All entities (or separate asset pools) not included in the previous points for which there is an agreement for the group to provide internal audit functions.

The Internal Audit is guided by the following principles in this work: (i) Independence, objectivity and impartiality, (ii) Integrity, ethical behaviour and confidentiality of the information handled and its findings, (iii) Competence and professional qualifications of the auditors, (iv) Quality of the work, (v) Value creation, (vi) Adequate collaboration with other control functions in the group and with the external auditors and other assurance providers working within the organisation, (vii) A smooth relationship with the supervisory bodies and (viii) Compliance with international standards for the function.

The Internal Audit's authority comes directly from the Board of Directors. Internal Audit reports to the Board Audit Committee and complies with the reporting requirements it receives from the committee in the discharge of its duties. However, as an independent unit, it reports regularly to the Board of Directors, at least twice a year and when it deems it necessary, direct access to the board is enabled.

In addition, it organises its activities with the flexibility necessary to adapt to the Group's current structure and circumstances and to achieve its objectives with maximum effectiveness and efficiency.

The Group Chief Audit Executive is responsible for submitting a corporate framework for the Internal Audit to the Board of Directors for approval and subsequent implementation. This corporate framework sets out the global function and the way in which it is to be performed, as well as any changes which arise from its regular reviews.

A plan based on an assessment of the risks to which the group is exposed is provided by the Internal Audit and submitted to the audit committee. Further it is submitted to the Board of Directors, which needs to approve it. In terms of