As Chairman of the Audit Committee, I would like to present to you the report on this Committee’s activities in relation to the financial year ended December 31, 2018, pursuant to Company bylaws and the current Law:
- We reviewed the reports of the external auditor on the basis of the new Sole Circular for External Auditors and the report on results of the internal audit for the year of 2018.
- To date, this Committee has no knowledge of any incompliance with the operating and accounting guidelines and policies of the Company and its Subsidiaries.
- This Committee has met with the representative of the firm of external auditors and evaluated the performance both of the firm and the auditor responsible therefor. The firm is responsible for expressing an opinion on the fairness of the Company’s financial statements and their compliance with International Financial Reporting Standards. At the current time, we believe the performance of the firm and its auditors to be satisfactory.
- This Committee reviewed and authorized payment for auditing and for additional services to be supplied by the firm of external auditors that provides services to Grupo Lamosa, ensuring that its independence in no way appears to be compromised.