Pursuant to CADU’s corporate bylaws, the Company has an Audit and Corporate Practices Committee comprised exclusively of Independent Directors.
The Chair of the Committee is appointed by the General Shareholders’ Meeting, taking into account its background, renowned expertise and professional reputation.
The functions of the Committee are:
(i) analyze and make recommendations to the Board with regards to operations with related parties;
(ii) issue opinions on matters within its authority pursuant to the Securities Market Law;
(iii) support in the preparation of reports; assess the performance of relevant managers;
(iv) elaborate and propose the salary and compensation packages for Chief Executive Officer and other Key Executives of the Company;
(v) evaluate the performance of the firm conducting external audit services (and analyze the opinion and reports they generate);
(vi) discuss the financial statements with the responsible of their elaboration (and propose, or not, the approval of the financial statements to the Board);
(vii) inform the Board about the status of the Company's internal control and internal audit system (as well as legal entities under its control);
(viii) investigate possible violations in the operation, internal control and internal audit; and,
(ix) to ensure that the Chief Executive Officer complies with the resolutions approved at the shareholders' meetings.
The Committee is comprised by:
|Luis Zazueta Dominguez
|Manuel Francisco Arce Rincon
|Alberto Sanchez Palazuelos
|Jose Luis Romero Hicks