The Madrid Capital FinTech (MAD FinTech) cluster will have a new transparency and good governance body. This is an Internal Audit Committee, which will be validated by the Ethics Committee and the Board of Directors at their meetings in April.
The purpose of this new functional area will be to supervise and advise the cluster’s governing bodies in all matters relating to internal control, for which purpose it will monitor and evaluate both the administrative procedures carried out and the verification of the accounting records of the operations carried out, with the aim of:
- safeguarding assets, meaning all the intangible brand values and economic value of what partners of whatever kind represent.
- verification of any and all administrative and accounting procedures that allow for better operational efficiency; as well as reliability of data provided to third parties, including partners, institutions and any other parties of interest.
- verification of each and every partnership contract.
- verification of accounting records and preparation of a monthly or quarterly trial balance and any significant financial and/or asset changes.
- determine whether operational actions are aligned in whole and in part according to the directives of the association’s management.
This audit body will be headed by José Luis Zunni, a constituent partner of the cluster with extensive experience in the auditing world. To the extent that its task would be required by the growth of the association, it could be equipped with an internal audit committee composed of other partners.
Urbano Ayala Asesores is the legal, tax and labour consultancy currently contracted and will provide technical assistance to the work of this new Internal Audit Committee.
The internal audit committee and the figure of the internal auditor is not binding in terms of decisions, but only for the purposes of information, verification and control of all actions carried out by the association’s management bodies.
The proposal of José Luis Zunni as Internal Auditor responds to his professional experience in auditing, although he is also a constituent member of the cluster and a founding member of the Ecofin Forum, which is why he has been committed to the success of the project since before the launch of the cluster.
José Luis Zunni is an economist, auditor and consultant with extensive professional experience serving hundreds of companies in Argentina and Spain. During his time in Argentina, he worked as an auditor for several decades in his own firm José Luis Zunni y Asociados, Consultores y Auditores.
During this period he taught at the University of Belgrano, the National University of Lomas de Zamora and the University of Buenos Aires. He taught the subjects of Financial Statement Analysis; he also directed the professional seminar on Accounting Administration and Tax Theory and Technique. Before setting up his own firm, he was an audit manager at McLintock, Main Laferenz & Co.
He came to Spain more than thirty years ago to work for Gallup. In recent years his activity has been more oriented towards consultancy and training, having taught at business schools such as ESIC, CESMA and the European Business School.