142
RECOMMENDATIONS
(July 18
th
2013 Corporate Governance law in
)
Details of the
adoption of the
recommendation
IV. AUDITING
IV.1.
The external auditor shall, within scope of its duties, verify the implemen-
tation of remuneration policies and systems of the corporate bodies as well as
the efficiency and effectiveness of the internal control mechanisms and report
any short comings to the supervisory body of the company.
Adopted
The external auditor
reports on the audit work
carried out during the
year in the annual audit
report.
Part I - Numbers 37. and
38. of this Corporate
Governance Report
IV.2.
The company or any entity with which it maintains a control relationship
shall not engage the external auditor or any entity with which it finds itself in
a group relationship or that incorporates the same network, for services other
than audit services. If there are reasons for hiring such services - which must
be approved by the Audit Committee and explained in its Annual Report on
Corporate Governance - said should not exceed more than 30% of the total
value of services rendered to the company.
Adopted
Part I
Number 46.
of this Corporate
Governance Report
IV.3.
Companies shall support auditor rotation after two or three terms wheth-
er four or three years, respectively. Its continuance beyond this period must
be based on a specific opinion of the Audit Committee that explicitly consid-
ers the conditions of auditor’s independence and the benefits and costs of its
replacement.
Adopted
Part I
Numbers 44. and
45. of this Corporate
Governance Report
V. CONFLICTS OF INTEREST AND RELATED PARTY TRANSACTIONS
V.1.
The company’s business with holders of qualifying holdings or entities
with which they are in any type of relationship pursuant to article 20 of the Por-
tuguese Securities Code, shall be conducted during normal market conditions.
Adopted
Part I
Numbers 10., 90.,
91. of this Corporate
Governance Report
V.2.
The supervisory or oversight board shall lay down procedures and criteria
that are required to define the relevant level of significance of business with
holders of qualifying holdings - or entities with which they are in any of the rela-
tionships described in article 20.1 of the Portuguese Securities Code - thus sig-
nificant relevant business is dependent upon prior opinion of that body.
Adopted
Part I
Numbers 89. to 92.
of this Corporate
Governance Report
