Internal Audit

The internal audit department operated based on the internal operational regulation of the company, approved by the Board of Directors and mainly aims at the company’s administrative units proper operation. It supervises the observance of the company’s chart and liabilities in accordance with laws, the Capital Markets Commission resolutions and any other qualified government agent.
Specifically Internal audit department main duties are:
Monitoring the implementation and constant conformity with the Internal Regulation.

Monitoring of the implementation and constant conformity with the Company Articles of Association.

Monitoring of the application and conformity with the Legislation concerning Sociétés Anonymes, as well as Stock-Market Legislation.

Disclosure of information, after approval by the Board of Directors, to the Overseeing Authorities in order to facilitate their task.

Preparation of the written report every quarter, for the audit performed, to the Board of Directors.

Participation in the General Shareholders’ Meetings.

Monitoring of conformity with the binding statements of the Annual Report and the Company corporate plans concerning the use of capital raised from the Stock Market.

Monitoring of the legality of the fees and of all manner of provisions to the management with respect to the decisions of the pertinent organs of the Company.

Audit of the relations and transactions of the Company with affiliated companies.

Monitoring of the transactions of the members of the Board of Directors the management and persons that due to their relationship with the Company are subject to the provisions of article 8 of the No. 5/204/14.11.2000 decision of the Capital Markets Committee.