Accounting information to send by the SAD
Accounting Rules and Regular Information.
Accounting obligations.
- Sports companies with various sports sections will be to delineate accounting operations relating to each of them regardless of their integration into the annual accounts of society.
- The accounting of sports companies is governed by accounting regulations established in the code of trade and corporate Law anonymous and by its provisions of development. The Ministry of economy and finance, on the proposal of the institute accounting and Auditing, may approve by order adaptation of the master Plan accounting sports companies which are considered characteristics and nature of the activities, adapted to these rules and criteria, as well as the structure, nomenclature and terminology of annual accounts.
- The memory of the annual accounts will follow the model that developed the High Council of sports so that all clubs and professional sports companies use the same, unifying its minimum contents. This model of memory can be downloaded here
Similarly, in accordance with article 19.3. of Royal Decree 1251/1999 of 16 July, sobre sociedades anónimas sporting, in special features of the memory of the annual accounts will be captured, at least, the following information: Without prejudice to Article 200 of the law of Corporations, must specify the distribution of net of business figures for the activities of each sports section of society, rights of acquisition of players, investments in sports facilities, image rights of players and those other extremes highlight that in the rules of adaptation referred to in the previous paragraph.
Regular information.
Semiannual information.
The half-yearly information refer to the period between the beginning of the period and the last day of each semester natural, will be made by the administrators of society and will be sent to the council within three months of the closing date of the period.
This information should include at least some intermediate statuses of society indicated on the standard of elaboration of accounts 12th "intermediate financial statements" contained in the fourth part of the General Accounting approved by Royal Decree 1643/1990, 20 December, and, in its case, stock of society and the consolidated group and the profit and loss account of society and a consolidated memory of the corporate group referred to this period. Additionally, there will be a report containing the transactions of society with its administrators, managers and shareholders significant.
Information regarding transactions between companies and their shareholders sporting significant, their managers and directors, referred to in the previous paragraph, include quantified information of these transactions, as well as any person acting on behalf of Them. To this end, it is understood by any transfer transaction or resource sharing or obligations or business opportunity regardless of whether there is a price for this operation.
This information should be provided in aggregate form according to the nature of the transactions between society and people linked to it mentioned in the preceding paragraph. However, if any transactions very significant outside of their value or importance for proper understanding of the financial statements of society, will provide individualized information in the same.
Annual information.
The annual information to refer to the High Council of sports will be individual annual accounts and, in its case, consolidated, including in both cases the management report, memory and the audit report.
Such information should be sent to the High Council of sports before the deposit of these accounts in the commercial register.
In the event that once made annual accounts and the management report appeared in them differences regarding the biannual information previously provided, managers of the sports company should inform the High Council of sports modifications that such differences have identified in such semiannual information.
Similarly, if the audit report or the management report contain caveats or discrepancies in half-yearly information previously provided, corrected in your case in the communication evacuated as envisaged in the previous paragraph, is communicated to the High Council of sports modifications that such caveats or discrepancies would have determined in the half-yearly information.
When the audit report of the annual accounts contain caveats, quantified or not, and when the auditor's opinion or adverse was had been denied, sports companies should seek their auditors a special report, which will be sent to the High Council of sports with the half-yearly information next, and containing at least the following information:
to) on the assumption that have been corrected or cleared the caveats referred to the annual accounts of the last period, should be apparent this circumstance, as well as the impact corrections for this reason on the regular information for the current period.
(b) on the assumption persist the causes that led to the qualified opinion, including the denial of opinion and adverse opinion, are to state expressly and this circumstance, whenever possible, the effects arising from making the necessary adjustments in the annual accounts audited documents or not to include in the audit report the corresponding caveats.
Sports companies, whose shares are admitted to trading on a bag of values
Sports companies, whose shares are admitted to trading on a bag of values, should complete the obligations of regular information provided by legislation of the stock market. The National Commission of the stock market, once received the relevant information, refer to the High Council of sports a copy of the same within 10 days, and in the event that the auditor's report does not contain a favourable opinion, may suspend the share price for the time necessary to economic information is known by the agents involved in the market, ensuring transparency in the formation of prices.
The Minister of economy, prior report of the institute accounting and audit and the national commission of market of Values, regulate the specialties that may arise in connection with the scope and frequency of information that corporations listed sports should make public and establish models or forms relating to the regular information and instructions for the completion of such forms.
Complementary audits
The Superior Council of sports, on its own initiative or at the request of the corresponding professional league may require the subjugation of a corporation esportiva to a follow-up audit by auditors designated by him with the scope and content that are found in the corresponding agreement. The sports company will be obliged to work with the auditor of accounts, providing all the information that is requested by it in accordance with Article 3 of the law 19/1988 of 12 July, Audit.