Description

These committees have five statutory members, all of them independent.

 

  • Primary responsibilities

      
      
    • Selecting the independent auditor for the Company and establishing fees.
    • Ensuring the existence of a proper internal control scheme for the Company that meets any and all applicable accounting and legal provisions, and reviewing Company transactions with related parties.
    • Reviewing the financial statements and ensuring they are a true and accurate reflection of the financial situation for the Company. They also have a set procedure for receiving, retaining, and responding to claims concerning accounting practices and controls, and any audit issues. Moreover, said committees have the necessary resources for, and are authorized to retain the services of counsel and/or any other outside adviser needed to perform their duties.
    • Reducing the risk of conducting operations such that could affect Company worth or could result in the granting of favored conditions to any one group of shareholders.
    • Approving policies for the use of properties pertaining to the net worth of the Company.
    • Authorizing transactions with related parties, remuneration for the Chief Executive, and remuneration policies regarding relevant company officers.
    • Serving as support for the Board of Directors in producing reports on accounting practices.
    • Holding private meetings and receiving periodic reports from Internal Audit, Legal, Compliance, and Ethics.
    • Calling Shareholders to meetings and ensuring that the order of business includes all points deemed necessary.
  • Primary requirements and practices

      
      
    • Independent auditors are forbidden from providing consultancy services to the Company
    • All members must be independent Directors, experts in finance
    • The partner from the independent auditing firm that renders the opinion on the financial statements must be rotated periodically.

Committee's members

  • Adolfo Cerezo

    Independent Director (President)

  • ERNESTO CERVERA

    Independent Director

  • ROBERTO NEWELL

    Independent Director

  • Eric Pérez-Grovas

    Independent Director

  • BLANCA TREVIÑO

    Independent Director