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Annual Accounts

260

Annual Report 2014 BME

40. The job of supervising compliance with internal codes of conduct and corporate

governance rules should be entrusted to the Audit Committee, the Nomination

Committee or, as the case may be, separate Compliance or Corporate Governance

committees.

See section: C.2.3 and C.2.4

41. Audit committee members, particularly the Chairman, are appointed in light of

their knowledge and experience of accounting, audit or risk management.

42. Listed companies should have an internal audit function, under the supervision

of the Audit Committee, to ensure the proper operation of internal reporting and

control systems.

See section: C.2.3

43. The head of internal audit should present an annual work programme to the Audit

Committee; report to it directly on any incidents arising during its implementation;

and submit an activities report at the end of each year.

44. Control and risk management policy should specify at least:

a) The different types of risk (operational, technological, financial, legal, repu-

tational…) the company is exposed to, with the inclusion under financial or

economic risks of contingent liabilities and other off-balance-sheet risks;

b) The determination of the risk level the company sees as acceptable;

c) Measures in place to mitigate the impact of risk events should they occur;

d) The internal reporting and control systems to be used to control and manage the

above risks, including contingent liabilities and off-balance sheet risks.

See section: E

Partially complies

Explain

Complies

X

Partially complies

Explain

Complies

X

Complies

Explain

X

Complies

Explain

X

Complies

Explain

X