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CORPORATE GOVERNANCE REPORT
III. SUPERVISION
a) Composition
30. Identification of the Fiscal Board
The Company is audited by the Audit Committee and
the statutory auditor or a statutory audit firm who are
not members of the Audit Committee, both elected by
the General Meeting of shareholders.
31. Composition
Audit Committee
Chairman – Dr. Joaquim Alexandre de Oliveira e Silva ;
Vice-Chairman – António Maria Borda Cardoso;
Member – Eduardo Moutinho Ferreira Santos;
Substitute – Maria Helena Moreira de Araújo;
The Audit Committee is made up of at least three active
members, who are elected by the General Meeting and
must meet at least quarterly. Where the Audit Commit-
tee has only three active members, there must be one
or two substitutes; where there are more than three ac-
tive members, there must be two substitutes.
The statutory auditor or statutory audit firm are elect-
ed by the General Meeting at the proposal of the Audit
Committee.
The term of office of the members of the Audit Com-
mittee is four years (art. 27 of the Bylaws). The current
Chairman took up the post of Vice-Chairman in 2008 and
was appointed Chairman in 2013 for the period 2013-
2016. The current Vice-Chairman was first appointed
as a member of the Audit Committee in 2007 and was
appointed vice-chairman for the period 2013-2016. The
Member was first appointed as a substitute in 2007 and
was appointed as a member for the period 2013-2016.
32. Independence of the Fiscal board members
All the active members meet the criteria stated in article
414.5 of the CSC and comply with all the rules of incom-
patibility mentioned in article 414.1 of the CSC.
The members of the Audit Committee have the duty
to immediately report to the Company any event that
might give rise to incompatibility or loss of independ-
ence
33. Professional Qualifications
Chairman – Dr.Joaquim Alexandre
de Oliveira e Silva
Academic qualifications
- BA in Economics (1970) from the Faculty of Economics
of the Univesity of Oporto
Professional activity in the last five years:
- University teaching
- Tax consulting
Date first appointed and end of current term of office
2008 / 2016
Functions performed in the governing bodies of
other companies belonging to the Ibersol Group:
He does not perform any functions in other companies
in the Ibersol Group.
Number of shares of Ibersol, SGPS, SA held directly
or indirectly:
He does not hold any shares of the company.
