As Chairman of the Audit Committee, I would like to present the report on this Committee’s activities in relation to the financial year ended December 31, 2020, pursuant to Company bylaws and the current Law:
- We reviewed the reports of the external auditor on the basis of the Sole Circular for External Auditors and the report on results of the internal audit for the year of 2020.
- 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 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 approved the designation of the External Auditor and the payment for auditing and for additional services, ensuring that the independence thereof in no way appears to be compromised.
- We reviewed the performance of the Grupo Lamosa Transparency Line, ensuring that the cases received are being treated in accordance with the principles set out in the Company’s Code of Ethics.