Annual Report and Consolidated Accounts 2015
36. Availability of each member with description of positions
hels in other companies inside and outside the group and other
relevant activities carried out
All the members of the Audit Committee consistently demonstrated their availability
to perform their functions, having attended all the meetings and taken part in the work.
For point 33 above we refer to the information on other posts held in other compa-
nies by the active members of the Audit Committee in
Annex 2
to this report.
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 consulting services provided have the neces-
sary level of quality, autonomy and independence relative to the services provided
within the scope of the audit process.
38. Other functions
The Audit Committee, in coordination with the Statutory 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 inter-
nal control system;
- examine continuously the process of preparation and disclosure of financial infor-
mation;
- examine the auditing of the accounts;
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