Business Principles

36,000 Telefónica Group employees have received training on the Business Principles.
In December 2006 Telefónica approved its Business Principles. Based on its Vision and Business Principles, the Company is building a new corporate culture. This model is based on three pillars: introduction of the Business Principles, establishment of internal controls to ensure compliance, and lastly, monitoring of compliance and verification by way of internal self-assessment and audit.
Independent Verification (Ernst&Young)