The main goals of this Committee are the assessment of accounting procedures, the management of relations with the Statutory Auditor and the supervision of the effectiveness of the control architecture and the Integrated Risk Management System (IRMS). The Committee does not substitute the functions of the Board of Directors or the Management in terms of supervision and implementation of the internal control system of Argos.
This Committee is made up by three (3) members of the Board of Directors that all meet the requirements to be considered Independent Members and that have knowledge on accounting or finance topics. At least one of its members must have experience in topics related to corporate finance and/or aspects related to the design and implementation of internal control systems.
The Chairman of this Committee can be any of its members, and can be appointed freely by the Committee itself. The Secretary of this Committee is the General Secretary of the Company or any other person appointed by the latter.
Likewise, the CEO of the Company, the Vice President of Finance and Shared Services, the Internal Audit Department and the Statutory Auditor of the Company will attend the meetings of this Committee, which must be organized at least 4 times per year.
Among its functions are:
- Supervise the services of the Statutory Auditor, which includes assessing their quality.
- Know and evaluate the financial information preparation, presentation and disclosure procedure.
- Order and monitor internal control systems to ensure that they meet the needs, objectives, goals and strategies defined by Argos, and that they are in line with the internal control objectives, such as the efficiency and effectiveness of operations and the sufficiency and reliability of financial information.
The members of the committee are:
- Alejandro Piedrahita.
- Cecilia Rodriguez.
- Carlos Gustavo Arrieta.