Corporate Governance Report
V. EXTERNAL AUDITOR
42. Identification
The external auditor is PriceWaterHouseCoopers and Associates, SROC, registered with the Se-
curities Market Commission under no. 9077, represented by Hermínio António Paulos Afonso
or António Joaquim Brochado Correia.
In 2016 it was represented by 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 representative since 2011.
44. Policy and frequency of rotation of the external auditor
and its partner
The external auditor and the partner who represents it in this role are, respectively in their
third and second consecutive term of office. The external auditor is elected by the General
Meeting at the proposal of the Audit Committee and the need for a change of external
auditor will be assessed based on best practices in corporate 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 continuously functions, if, after
making a careful assessment, has concluded that the maintenance functions, in addition
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 supervisory body, with the level of knowledge and depth
already 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 6th,
2013 – in
.
156
