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Audit Committee

The Audit Committee comprises 3 Directors and is responsible for the supervision of the Company management.

Audit Committee

The Audit Committee comprises three Directors, one of whom is its Chairman, its current members being those identified below.

According to its internal regulations, the Audit Committee meets in regular session at least once every three months.

A majority of the members of the Audit Committee are independent according to legal criteria, as required by applicable legislation.


Composition

Sérgio Tavares Rebelo Sérgio Tavares Rebelo Chairman of the Audit Committee
Clara Christina Streit Clara Christina Streit Member of the Audit Committee
Hans Eggerstedt Hans Eggerstedt Member of the Audit Committee

Responsibilities

The responsibilities of the Audit Committee include supervision of the Company management.
In the performance of its duties, in addition to others prescribed by law, the Audit Committee is responsible for:

  • Monitoring the preparation and disclosure of financial information;
  • Monitoring the effectiveness of internal control systems, internal auditing and risk management. For this purpose, they may work with the CCI, which shall report to them regularly on their work, pointing out situations that should be analysed by the Audit Committee;
  • Regularly assessing the external audit;
  • Approving activity plans in the area of risk management and following up on their execution, proceeding with the assessment of the recommendations resulting from the auditing actions and the revisions of the procedures undertaken;
  • Looking after the existence of an adequate internal risk management system for the companies of which the Company is holder of shares or quotas, ensuring full compliance with its objectives.
  • Approving the activity programmes of internal auditing, which respective Department will be functionally reporting to it, as well as of external auditing;
  • Selecting, as proposed by the Managing Committee, the service provider for external auditing.
  • Monitoring the legal accounts audit services;
  • Assessing and monitoring the independence of the statutory auditor, especially when he performs additional services for the Company;
  • Issuing prior opinion on transations of significant importance between the Company and its shareholders with qualifying holgings - or entities with them related under the terms of article 20.º, no. 1 of the Securities Code -, estabilisinhg the procedures and criteria necessary to define the level of significant importance.

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