PTC, as an undertaking with SMP in several markets, is subject to obligations, inter alia, of price control, accounting separation and cost accounting, using, for that purpose, an AAS which aggregates data on revenues and costs, by product or service; meanwhile it is incumbent upon ICP-ANACOM, or upon another independent entity which it designates, to audit the AAS and verify its compliance with applicable legislative and regulatory provisions.
On the other hand, PTC, as concessionaire of the public telecommunications service, is required to ensure, inter alia, provision of the fixed telex service, the broadcasting service and distribution of the telecommunications broadcast signal, the telegraph service and, on a transitional basis, until its transfer to another undertaking, the maritime mobile service (MMS).
The negative operating margins, as arise from fulfilment of the obligation to provide these services is to be offset annually through the direct allocation of compensation by the state. To this end, it is incumbent upon ICP-ANACOM to report negative operating margins to the IGF preceded by an audit performed by an independent body which it has appointed.
6.1.1. Analytical accounting system (AAS) used by PT Comunicações, S.A. (PTC) with reference to the 2007 financial period
By decision of 31 October 2012, ICP-ANACOM took note of the conclusions of the audit of PTC's AAS, with reference to 2007 and granted PTC a period of 15 working days to comment on the declaration of conformity issued on the AAS with reference to 2007 and on the determinations to be issued by ICP-ANACOM seeking to improve the AAS.
On the same date, ICP-ANACOM approved a draft decision as regards the operating margins of the telex, telegram, terrestrial broadcasting and maritime mobile services, with reference to the 2007 financial period, with an equal period of 15 working days provided for PTC to comment.
6.1.2. Analytical accounting system (AAS) used by PT Comunicações, S.A. (PTC) with reference to the 2008 and 2009 financial periods
Also in 2012, by determination of 23 March, ICP-ANACOM approved the launch of a tender to conduct an audit of the results of PTC's AAS, with reference to the 2008 and 2009 financial years. By determination of 27 April 2012, the contract for this audit was awarded to Baker Tilly, PG & Associados, SROC, S.A., which auditing commenced in June 2012.
6.1.3. Cost of capital of PT Comunicações, S.A. (PTC) to apply to the 2011 analytical Accounting System (AAS)
By determination of 30 August 2012, ICP-ANACOM approved a final decision on the revision of the calculation of PTC's cost of capital, applicable to 2011, following notification of the draft decision to the EC, Body of European Regulators for Electronic Communications (BEREC) and the NRA of the other EU Member States. As such, ICP-ANACOM determined that the cost of capital rate for 2011, considering all constraints, should be set at 11.7%.
6.1.4. Analytical accounting system (AAS) used by PT Comunicações, S.A. (PTC) with reference to the 2010-2012 financial periods
By determination of 18 June 2012, ICP-ANACOM approved the launch of an international public tender for the purpose of reviewing the AAS used by PTC, auditing the results of the AAS (2010-2012 financial periods) and auditing the NCUS estimates presented by PTC (2010-2012 financial periods); the respective award was made to SVP Advisors, S.L.1 on 6 September 2012, and work commenced in October 2012.
1 This company subsequently changed its name to Axon Partners Group consulting, S.L.
