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V. EXTERNAL AUDITOR
42. Identification.
The external auditor is PriceWaterHouseCoopers and
Associates, SROC, registered with the Securities Market
Commission under no. 9077, represented by Dr. Her-
mínio António Paulos Afonso or Dr. António Joaquim
Brochado Correia.
No ano de 2013 o representante foi o Dr. Hermínio
António Paulos Afonso.
43. Permanence of Functions.
The external auditor was elected for the first time in
2005 and this is its second term of office.
The partner who represents it has been acting as rep-
resentative since 2011.
44. Policy and frequency of rotation of the
external auditor and its partner.
The external auditor and the partner who repre-
sents it in this role are in their second consecutive
term of office. The external auditor is elected by the
General Meeting at the proposal of the Audit Com-
mittee and the need for a change of external audi-
tor will be assessed based on best practices in cor-
porate governance at the time of the proposal for a
new term of office.
The Supervisory Board adopted the recommended
principle only not to make the rotation of the external
auditor at the end of two terms of four years continu-
ously functions, if, after making a careful assessment,
has concluded that the maintenance functions, in ad-
dition to that period, does not interfere or prejudice the
necessary independence of the external auditor, or the
level of quality that the functions should be exercised,
ensuring instead monitor the company by that super-
visory body, with the level of knowledge and depth al-
ready acquired – v.d. proposal of the Supervisory Board
5/4/2013 on the appointment of ROC attached to the
proposal presented on point 7 of the General Meeting
Call for May 6, 2013 – in
.
45. External Auditor assessment.
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.
46. Additional work.
The non-audit services provided by the external audi-
tor will mainly include services to do with the review of
tax documentation processes and keeping up to date
with tax legislation.
The Audit Committee analyzed and approved the
scope of said services, concluding that they do not
represent any threat to the auditor’s independence.
The non-audit services are provided by different indi-
viduals from those involved in the audit, so that the
independence and impartiality of the auditor is con-
sidered to be assured.
The fees billed for non-audit services in 2014 repre-
sented 18,9% of the total fees billed to the Group by
PriceWaterHouseCoopers in the year.
