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ANNUAL REPORT 2011
The procedures dealt with in the Ibersol
Standards Manual concerning this area mainly
focus on rational electricity usage and recycling
used oils.
Contingency
The unpredictable evolution of the financial markets
may lead to increased financing costs and credit access
problems, althoughwebelieve the companywill be able
to overcome such difficulties. The sharp fall in public
consumption in the last quarterly, mainly in Portugal,
with reflexion in restaurant sales, makes us provide a
very negative trend in sales in 2012. To mitigate the
effect on income, the society is to adopt a strict control
of costs, amonthlymonitoring ofmarket developments
and consequent revision of the resource planning to
use.
On the other hand, operations in the foodservice area
can be affected by eventual epidemics or raw material
market distortions or eventual changes in consumption
standards, which may significantly impact the financial
statements.
II.6. Responsibility of the board and the supervisory
body in the creation and operation of internal
control and risk management in society, as well
as evaluating the functioning and adjustment to
society’s needs
The board of the company constantly monitors the
systems of internal control and risk management
company, offering efficient and updated information,
assessing current and systematicway for its functioning
and adjustment to society’s needs, providing the
supervisory board all the information you requested.
II.7. Indication on the existence of regulations
on the functioning of the corporate bodies or
any internally defined rules on incompatibility
and the maximum number of positions that a
member is entitled to hold and the place where
these rules may be consulted at
The company has Board of Directors and Statutory
Audit Committee regulations about its functioning
rules, published in the company’s website.
A list of incompatibilities has not been determined,
nor has themaximumnumber of positions directors
may accumulate in management bodies of other
companies, so far as the company’s directors,
except for the non-executive director, only exercise
executive functions in the companies comprising
the Group.
The non-executive member attended board
of directors meetings, and he has been timely
informed of the respective agenda. He participates,
with regularity, in the executive committee reunions,
especially those ones over discussion of the strategic
and planning of the corporate business. He provides
special support to theManagement Control function
and to the development of personnel in that
Department. Permanently, he receives from the
management control department, the information
that suites him to follow the current activity.