Committee

AUDIT COMMITTEE

The Audit Committee is a permanent non-statutory body with the purpose of advising the Board of Directors in its attributions related to audit, internal controls, corporate governance, risk management and anticorruption practices.

The purpose of the Audit Committee is to monitor:

  • The functioning of the Company‘s entire corporate governance system, contributing to the adoption of the best suitable national and international corporate governance practices and proposing improvements in its corporate governance system;
  • Risk assessment in order to protect companies’ resources;
  • Monitoring of the implementation of contractual commitments and goals;
  • Conducting of the study on measures to prevent or mitigate damages to the environment, safety and occupational medicine;
  • Improvements of Company’s auditing practices, internal controls, corporate governance, code of ethics and related parties policy;
  • The internal controls system and the effectiveness of the Company‘s independent audit committee.

Main attributions of the Audit Committee:

  1. Improvements of Company’s auditing practices, internal controls, corporate governance, code of ethics and related parties policy;
  2. Supervision of ongoing adherence to legal, statutory and regulatory market requirements and corporate governance practices formally adopted by the Company;
  3. Risk assessment;
  4. Follow-up risks related to ongoing legal or administrative proceedings;
  5. Report the activities of this Committee at Board of Directors’ meetings;
  6. Carry out, at least once a year, a self-evaluation of its activities to identify operational and financial improvements;
  7. Recommend to independent audit services, as well as the replacement of its service providers when necessary;
  8. Analyze the quarterly and annual financial statements, including the explanatory notes and management report, as well as the independent auditor report prior to its disclosure, reporting to the Board of Directors when necessary; and
  9. Recommend to the Executive Board the correction or improvement of policies, practices and procedures identified within the scope of its attributions.

SUSTAINABILITY COMMITTEE

The Sustainability Committee is a permanent non-statutory body that aims to advise the Board of Directors on the performance of its duties related to the planning and management of risks related to the Company’s operations.

The purpose of the Sustainability Committee is to advise the Board of Directors on issues related to environmental and operational risks arising from the Company‘s operations to ensure that are conducted in accordance with legislation, ethics, guidelines, internal policies and procedures.

Main attributions of the Sustainability Committee:

  1. Follow-up the Company‘s activities and controls in the management of environmental, structural, health and occupational safety risks arising from its operations;
  2. Verify legal and statutory issues, negative impacts or damages to the environment and occupational health and safety that may be practiced by Iguá;
  3. Comment on matters submitted to it by the Board of Directors;
  4. Follow-up law or administrative proceedings risks with the authorities;
  5. Report the activities of Risk Committee at the Board of Directors’ meetings, or sooner if necessary.

PEOPLE AND COMPENSATION COMMITTEE

The People and Compensation Committee seeks efficiency through analysis of the engagement, compensation and performance of the statutory executives, and provides advisory services to the Board of Directors, together with other Company committees (Audit and Sustainability).

Last Update on February 12, 2019

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