Audit Board

The governance model adopted by CTEEP gives priority to administrative efficiency and professionalization.

The CTEEP Audit Board is a permanent body consisting of five members and five substitutes, elected for a one-year term, with the participation of the minority shareholders. .

The responsibilities of the Audit Board are: to audit the acts of the managers and verify the fulfillment of their legal and statutory responsibilities, to give an opinion on the Annual Management Report, to analyze the company’s regular trial balance and other balance sheets, and to examine and give an opinion on the social balance sheets. In 2008, the Audit Board met eight times, being six face-to-face meetings and two via telecommunication. GRI 4.1