EXHIBIT 12.2





SECTION 302 CERTIFICATION





I, Matias I. Gaivironsky, certify that:





1.I have reviewed this annual
report on Form 20-F/A of IRSA Inversiones y Representaciones
Sociedad Anónima (the “Company”) for the fiscal
year ended June 30, 2016;





2.Based on my knowledge, this
report does not contain any untrue statement of a material
fact or omit to state material fact necessary to make the
statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period
converted by this report;





3.Based on my knowledge, the
financial statements, and other financial information included in
this report, fairly present in all material respects the financial
position at June 30, 2016 and 2015 and the results of operations
and cash flows of the Company for the periods ended June 30, 2016,
2015 and 2014;





4.The Company’s other
certifying officer and I are responsible for establishing and
maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15(d)-15(e)) and internal control
over financial reporting (as defined in Exchange Act Rules
13a-15(f) and 15d-15(f)) for the Company and
have:





a)Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures
to be designed under our supervisions, to ensure that material
information relating to the Company, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being
prepared;





b)Designed such internal control
over financial reporting, or caused such internal control over
financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting
principles;





c)Evaluated the effectiveness of
the Company’s disclosure controls and procedures and
presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures, as of the end of the period
covered by this report based on such
evaluation;





d)Disclosed in this report any
change in the Company’s internal control over financial
reporting that occurred during the period covered by the annual
report that has materially affected, or is reasonably likely to
materially affect, the Company’s internal control over
financial reporting; and





5.The Company’s other
certifying officer and I have disclosed, based on our most recent
evaluation of internal control over financial reporting, to the
Company’s auditors and the audit committee of the
Company’s board of directors (or persons performing the
equivalent functions):





(a)All significant deficiencies and
material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely
affect the Company’s ability to record, process, summarize
and report financial information; and





(b)Any fraud, whether or not
material, that involves management or other employees who have a
significant role in the Company’s internal control over
financial reporting.





IRSA Inversiones y Representaciones Sociedad
AnónimaMarch
23, 2017
By:
/s/ Matias
I. GaivironskyMatias
I. GaivironskyChief
Financial and Administrative Officer