Informe_Anual_Cecabank_2016_ENG

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Operation and related issues
The Audit Committee is regulated by article 38 of Cecabank’s articles of as-
sociation and by its own Internal Regulations, approved by the Board of Di-
rectors on 26 May 2015.
The Audit Committee met on six occasions in 2016, and analysed, among
other issues:
the property valuation Policy,
the function of control and its annual
reports, the internal audit plan,
the external expert’s report on the prevention of money laundering and
financing terrorism,
the auditor’s independent report on the protection of customer assets
(IPAC),
updating the website,
certification with regard to criminal risk, the new internal conduct
regulation, and
the supervision function of monitoring Cecabank as a depositary.
The Audit Committee
is responsible for
monitoring the
efficiency of the
company’s internal
controls, and its risk
management systems.
Audit Committee
Composition of the Audit Committee, at 31 December 2016
Chair
D. Mª del Mar Sarro Álvarez
Independent
Member
D. Fco. Javier García Lurueña
Member
D. Santiago Carbó Valverde
Member
D. Manuel Azuaga Moreno
Comisión de
Auditoría
Cecabank 2016 Annual Report Page. 50
04 CORPORATE GOVERNANCE
4.
4.2
4.
4.4