Annual Report and Consolidated Account
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c) Competences and functions
37. Description of the procedures and criteria
for intervention by the Fiscal Board for the
purpose of hiring additional services to the
Statutory Auditor.
The Audit Committee annually assesses the work of
the external auditor and states its conclusions in its
Report and Opinion, issued in the terms and for the
purposes of art. 420.1.g) of the Companies Code.
The Audit Committee analyzes and approves the
scope of any non-audit services provided, considering
whether they call the independence of the external
auditor into question. It also ensures that any consult-
ing services provided have the necessary level of qual-
ity, autonomy and independence relative to the ser-
vices provided within the scope of the audit process.
38. Other functions.
The Audit Committee, in coordination with the Statu-
tory Auditor, is responsible for the auditing of the
Company, namely:
- examine the appropriateness of the accounting
policies;
- examine continuously the effectiveness of the risk
management system and internal control system;
- examine continuously the process of preparation
and disclosure of financial information;
- examine the auditing of the accounts;
It is also responsible for making proposals to the Gener-
al Meeting for the appointment of the statutory auditor
and examining the auditor’s independence, particularly
as regards the provision of non-audit services.
The annual report on the work of the Audit Committee
is published, together with the financial statements,
on the Company’s website.
To all effects, the Audit Committee represents the
company in relation to the external auditor, ensuring
that all the conditions of service provision are met, an-
nually assessing the auditor’s performance, acting as
the auditor’s main contact and receiving its reports,
jointly with the Board of Directors.
To perform its functions the Audit Committee obtains
from the Board of Directors the information it needs
in order to carry out its activity, namely information
on the Group’s operations and finances, changes in
the composition of the Group’s portfolio of companies
and businesses and the content of the main resolu-
tions adopted by the Board.
IV. STATUTORY EXTERNAL AUDITOR
39. Statutory External Auditor identification
and the representing partner.
The statutory auditor of the Company is PriceWater-
HouseCoopers and Associates – Sociedade de Revi-
sores Oficiais de Contas, Lda”, represented by Dr. Her-
mínio António Paulos Afonso or Dr. António Joaquim
Brochado Correia.
40. Permanence of functions.
PriceWaterHouseCoopers and Associates has been
acting as the Company’s statutory auditor since 2005.
41. Other services provided to the Company.
The statutory auditor is also the Company’s external
auditor.
