IBERSOL | 2019 Annual Report

2019 ANNUAL REPORT 38. Other functions. The Statutory Audit Committee, in coordination with the Statutory Auditor, is responsible for the auditing of the Company, namely: - Supervise the management of the Company,namely by regularly assessing 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; - Continuouslymonitor the effectiveness of the riskmanagement systemand the internal control system; - Verify the accuracy of the accounting documents, accompanying the pro- cess of preparation and disclosure of financial information, and presenting recommendations to ensure the integrity of the same; - Supervise the audit of accounts; - Receive notifications of irregularities presented by shareholders, Group em- ployees or others; - To prepare annually a report on its audit action directed at shareholders, in- cluding the description of the inspection activity carried out, any detected constraints and to give an opinion on the report and accounts, as well as on the proposals presented by the management; It is also responsible for making proposals to the General Meeting for the appointment of the statutory auditor and examining the auditor’s indepen- dence, particularly as regards the provision of additional services. The annual report on the work of the Audit Committee is published, together with the financial statements, on the Company’s website. To all effects, the Statutory Audit Committee represents the company in re- lation to the external auditor, ensuring that all the conditions of service pro- vision are ensured, annually assessing the auditor’s performance, acting as the auditor’s main contact and receiving its reports, jointly with the Board of Directors. To perform its functions the Statutory Audit Committee obtains from the Board of Directors the information it needs in order to carry out its activity, namely information on the Group’s operations and finances, changes in the composition of the Group’s portfolio of companies and businesses and the content of the main resolutions adopted by the Board. 153