IBERSOL Annual Report 2018

CORPORATE GOVERNANCE REPORT With reference to point 33 above we refer the information on other posts held in other companies by the active members of the Statutory 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 Statu- tory Auditor. The Statutory Audit Committee annually assesses the work of the exter- nal auditor and states its conclusions in its Report and Opinion, issued in terms and for the purposes of art. 420.1. g) of the Companies Code. The Statutory Audit Committee analyzes and approves the scope of any additional services provided, considering whether they call the in- dependence of the external auditor into question. It also ensures that any consulting services provided have the necessary level of quality, au- tonomy and independence relative to the services provided within the scope of the audit process. 38. Other functions. The Statutory Audit Committee, in coordination with the Statutory Audi- tor, is responsible for the auditing of the Company, namely: - Supervise the management of the Company,namely by regularly as- sessing compliance with the company’s strategic plan and the budget; - Verify that the accounting policies and valuation criteria adopted by the Company lead to a correct valuation of assets and results; - Continuously monitor the effectiveness of the risk management system and the internal control system; - Verify the accuracy of the accounting documents, accompanying the process of preparation and disclosure of financial information, and pre- senting recommendations to ensure the integrity of the same; - Supervise the audit of accounts; - Receive notifications of irregularities presented by shareholders, Group employees or others; - To prepare annually a report on its audit action directed at sharehold- 156