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7HUUHQR\VXVDOUHGHGRUHVWDPDxRFDVD\
MDUGtQ3ODQHDPLHQWRGHOMDUGtQSULQFLSLRVHVWLOR
\HOHFFLyQGHSODQWDV2EMHWR\XWLOL]DFLyQGH
MDUGtQ'LIHUHQWHVHVWLORVGHMDUGtQ2UQDPHQWDO
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3DUDQLxRV'HSRUWH\MXHJRVHQHOMDUGtQ
 2EMHWRGHOGLVHxRGHOMDUGtQ

 (OMDUGtQIRUPDSDUWHGHODYLYLHQGDFRPR
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FXDOTXLHUKDELWDFLyQGHODFDVDKDGHVHUDOD
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GHOLQWHULRUGHODFDVDODGHFDPELDU
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ODKRUDGHOGtDVODVHVWDFLRQHV(OGLVHxRRIUHFH
 2EMHWRGHOGLVHxRGHOMDUGtQ

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SDUHFHQHYROXFLRQDUFRQODVDxRVGHIRUPDFDVL
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 2EMHWRGHOGLVHxRGHOMDUGtQ

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SHRUGHORVFDVRVDXQDVHOYDFDyWLFD6H
 2EMHWRGHOGLVHxRGHOMDUGtQ

 &RPSUHQGHODLPSRUWDQFLDGHOSODQHDPLHQWR(O
REMHWRGHORVMDUGLQHVFRQVLVWHHQHOGHVDKRJRD
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 2EMHWRGHGLVHxRGHOMDUGtQ

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HOPi[LPRGHSRVLELOLGDGHVGHFRUDWLYDVDOMDUGtQ
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SUHFLVRHOHJLUSODQWDVFRQIRUPHDXQSODQ
HVWDEOHFLGR
 2EMHWRGHOGLVHxRGHOMDUGtQ

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GLVHxRSXHGHQLQLFLDUVHRSRVSRQHUVHVHJ~QODV
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 3ODQHDPLHQWRGHOMDUGTQ

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SXQWRPiVGLVWDQWHD]RQDSDYLPHQWDGDR
 3ULQFLSLRVGHOGLVHxRGHOMDUGTQ

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GHVDKRJDUHOHVSDFLRGLVSRQLEOHSRUSHTXHxR
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GLYHUVDViUHDVGHOMDUGtQ'HVGHHOSXQWRGH
YLVWDSUiFWLFRHVWD]RQDSXHGHVHUODGHPD\RU
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WHUWXOLDVIHVWHMRV/DIXQFLRQDOLGDGGHHVWD]RQD
VHUiPD\RUVLVHVLW~DHQODSDUWHPiVDELHUWD
GHOFDPSRKD\WRGRHOHPHQWRFRPRPDFL]RV
WUDQVYHUVDOHVPDFHWDVSDUHGHVSDUDQR
 3ULQFLSLRVGHGLVHxRGHOMDUGTQ

 (OLPLQDUHVDVHQVDFLyQGHDPSOLWXG/D
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 3ULQFLSLRVGHOGLVHxRGHOMDUGtQ

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VHUiLPSUHVFLQGLEOHWUDEDMDUFRQXQERFHWR\XQD
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ERUGXUDV\PDFL]RVGHEHQJXDUGDUSURSRUFLyQ
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iUEROHVWLHQHQTXHHVWDUHQDUPRQtDFRQODV
 3ULQFLSLRVGHOGLVHxRGHOMDUGtQ

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MDUGLQHUtD+DGHKDEHUDFFHVRDWRGDVODV
]RQDVSUHYLHQGRHVSDFLRVSDUDHOPDQHMRGH
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HVSDFLRVXILFLHQWHSDUDHVWD]RQDKDEUiTXH
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DOUHGHGRUGHOMDUGtQ
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RWURVXQHVSDFLRDODEULJRGHOYLHQWR\TXHHVWp
SDUFLDOPHQWHUHVJXDUGDGRGHOFOLPDFDOXURVR(Q
FDVRGHYLYLUHQ]RQDVIUtDVOD]RQDGHMXHJRV
VHUiHOFHQWURGHOMDUGtQ(VSUHIHULEOHTXHORV
HOHPHQWRVLQIDQWLOHVFRPRFROXPSLRV\
WRERJDQHVQRHVWpQILMRVSDUDSRGHU
GHVSOD]DUORV
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 /RVGHSRUWHV\ORVMXHJRVQRVRORVRQSHQVDGRV
SDUDORVQLxRVVLQRSDUDHOGLVIUXWHGHWRGDOD
IDPLOLD6LELHQHVSRVLEOHSUDFWLFDUMXHJRVHQHO
FpVSHGGHXQMDUGtQGHWDPDxRPHGLRORSURSLR
HVTXHORVMDUGLQHVTXHYD\DQDVHUXWLOL]DGRV
FRQILQHVGHSRUWLYRVVHDQJUDQGHV/RVFDPSRV
GHGHSRUWHHVWiQPHMRUVLWXDGRVIXHUDGHOD
]RQDRUQDPHQWDO\FHUFDGRVQRVRORSRUTXHOD
PD\RUtDGHODVSUDFWLFDVGHSRUWLYDVRFXSDQ
PXFKRHVSDFLR
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 6LQRSRUTXHDGHPiVQRVXHOHQVHUDWUDFWLYRV
(QFDVRGHTXHH[LVWDHVSDFLRSDUDOD
RUQDPHQWDFLyQODVTXHVHSXHGHQGHQRPLQDU
]RQDVIXQFLRQDOHV(VDFRQVHMDEOHFUHDUXQ
SDWLRDGRUQDGRFRQXQDYDULHGDGGHSODQWDV
RUQDPHQWDOHVGHLPSRUWDQFLD(QWUHORVGHSRUWHV
TXHSXHGHQSUDFWLFDUVHHQHOMDUGtQVHFXHQWDQ
HOWHQLV(VWHGHSRUWHWLHQHODYHQWDMDTXHODUHG
HVGHVPRQWDEOH\SXHGHFRORFDUVHIiFLOPHQWH
FXDQGRVHGHVHHMXJDU/DVFDQFKDVGHWHQLV
 <RWURVMXHJRVGHSHORWDGHEHQDFRPRGDUVH
VRODPHQWHHQORVMDUGLQHVPiVJUDQGHGRQGH
ODVGLPHQVLRQHVORSHUPLWDQ2WURVGHSRUWHVVRQ
HOEpLVEROHOYROHLEROI~WERO/DV]RQDV
GHVWLQDGDVDHOORVSXHGHQVHUFDPXIODGDVFRQ
iUEROHV\DUEXVWRVDOWRVTXHFRPELQDUDQFRQHO
UHVWRGHOMDUGtQ
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 0DUFDUFRQXQDFUX]ORVHOHPHQWRVTXHSHUWHQH]FDQDO
MDUGtQSDUDORVQLxRV

 =RQDGHFXOWLYRV
 7RERJDQHV\FROXPSLRV;
 0XFKRVHOHPHQWRVGHFRUDWLYRV
 3ODQWDVHVSLQRVDV
 =RQDVGHFpVSHGSDUDMXHJRV;
 *UDQGHVHVWDWXDV