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ANNUAL REPORT AND CONSOLIDATED ACCOUNTS 2012
The external auditor shall examine, within its competence, the implementation of policies and systems of remu-
neration, the efficiency and functioning of internal control mechanisms and reports any deficiencies to the Statu-
tory Audit Committee.
Regarding compliance with the independence rules established with respect to the External Auditor, the Statutory
Audit Committee monitored the rendering of non-auditing services with the purpose to ensure that no conflict of
interest situations existed.
III.18 Reference to the rotation period of the External Auditor
The rotation period will be of two terms of office, each one of four years.
(Contains 2 Annexes)
Porto, 1
st
April 2013
The Board of Directors
António Carlos Vaz Pinto de Sousa
António Alberto Guerra Leal Teixeira
Juan Carlos Vázquez-Dodero
