IBERSOL | Annual Report 2020

CORPORATE GOVERNANCE REPORT V. External Auditor 42. Identification The external auditor named under article 8th of the Securities Code is “KPMG & Associados - Sociedade de Revisores Oficiais de Contas, SA.” registered in the Securities Market Commission under nº 20161489, and in 2020 its representative was the Statutory Audit Dr. Pedro Manuel Bouça de Morais Alves da Costa (ROC nº 1466). 43. Permanence of Functions The external auditor was elected for the first time in 2018 and develops its first mandate since 2018 to 2020. The partner who represents the actual External Auditor exercises since 2019 and will end his functions when a new company’s external auditor shall be appointed. 44. Policy and frequency of rotation of the external auditor and its partner The external auditor and its representative partner member in the per- formance of its duties are in a first mandate. The election for each man- date is carried out by the General Meeting upon proposal of the Statu- tory Audit Committee and the frequency of rotation thereof shall be appraised in accordance with best corporate governance practices at the date of the proposal for a new term of office. 45. External Auditor assessment The Statutory Audit Committee annually assesses the work of the exter- nal 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 (CSC). 46. Additional work The services provided by the External Auditor and Statutory Auditor, other than Auditing, have always been approved by the Audit Commit- tee, in compliance with the applicable legal rules and internal proce- 244