Audit Committee
The structure of our Audit Committee conforms to laws and regulations on this matter, and meetings are official with the quorum established in the provisions. One of this Committee’s duties is to prepare and present a report on the status of the institution’s Internal Control System to the Board of Directors each year.
This report incorporates at least the following elements: (i) any shortcomings, discrepancies or aspects of the Internals Control System that might need improving; (ii) a mention and follow-up on implementation of preventive and corrective measures taken in response to observations from the National Banking and Securities Commission and results of internal and external audits, as well as from the valuation of the Internal Control System conducted by the Audit Committee itself; (iii) an evaluation of the performance of the Internal audit area; (iv) an evaluation of the performance of the external auditor, as well as the quality of its
opinion and of the reports and the reports it has prepared; (v) significant aspects of the Internal Control System that may affect the results of the Institution’s activities; and (vi) the results of its review of the opinion, reports, opinions and communiqués provided by the external auditor.
Executive Committee
The Executive Committee is appointed by the Board for the purpose of addressing all urgent matters that cannot be delayed until regularly scheduled meetings of the Board of Directors, in the opinion of the Committee itself.
This committee also sees that resolutions of the Board of Directors are put into effect, but without any of the faculties reserved for other governance bodies of the institution according to the Corporate Bylaws or other laws.