The Audit Committee comprises 3 Directors and is responsible for the supervision of the Company management.
The Audit Committee comprises three Directors, one of whom is
its Chairman, its current members being those identified
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
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
- 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
- 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
- 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
- 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