| A Securities Market Act (former) 18th Additional Regulation |
B Securities Market Act) (new) 18th Additional Regulation |
C MAPFRE Good Governance Code 18th Article |
|---|---|---|
| 1. – Inform the General Meeting. | 1. – Inform the General Meeting. | |
| 2. – Supervision of internal audit services. | 2. – Supervision of internal audit services. | 1º b - Periodically review the internal control and risk management systems. |
| 3. – Knowledge of the financial information process and internal control systems. | 3. – MONITOR the process of preparing and presenting regulated financial information. | 1ºa - Monitor the process of preparing and the integrity of financial information. |
| 4. - Propose the
appointment of the
auditors. 5. – Establish relations with the auditors in order to receive information on matters that may put their independence at risk. |
4. – Propose the
appointment of the
auditors. 5. – Establish relations with the auditors in order to receive information on matters that may put their independence at risk. Each year they must receive from the auditors written confirmation of their independence, as well as information on additional services performed. 6. – Issue each year a report in which an opinion is given on the independence of the auditors. |
2ºa - Submit to the
Board proposals for the
selection, appointment,
re-election and
replacement of the
external auditor. 2ºb - Regularly receive information from the external auditor. 2ºc - Ensure the independence of the external auditor. |
| 1ºc - Ensure the
independence and
effectiveness of the
Internal Audit function. 1ºd - Establish and monitor a mechanism that allows employees to report irregularities. |
Note: Numerical references at columns A and B are sections that belong to
the 18th Additional regulation included at the Securities Market Act (former
and new, respectively).
In Column C, numbers correspond to sections within the 18th article at
MAPFRE’s Good Governance Code.