Examples of Audit Board in a sentence
For the members of the Audit Board and the officers of the General Meeting, the law lays down that the remuneration shall consist of a fixed sum, which shall be determined in the same way by the general meeting of shareholders or by a committee appointed by the same, taking into account the duties performed and the state of the company’s affairs.
The annual average cost per person in each age group for a specific year shall be notified to the Audit Board at the latest by the end of the second year following the year in question.
The remuneration of the members of the Audit Board and the officers of the General Meeting shall comprise a fixed component only.
In the case of the Audit Board, which has the powers established in law, there are no delegated powers or special areas of responsibility for individual members.
The Audit Board plays a particularly important role in this field, with all the powers and responsibilities assigned to it directly by law.
As from 2008 when it adopted IFRS rules, and when CVM Instruction 480 of December 7, 2009 instituted the Reference Form, this identification of risks and management procedures began to be used manually in the Reference Form itself, which is reviewed by the Executive Board and submitted for consideration by the Board of Directors and the Audit Board.
The fixed remuneration of the members of the Audit Board shall consist in all cases of a pre-set amount paid fourteen times a year.
The remuneration of the members of the Audit Board includes no variable component.
In the event of any dispute, the observations of the institutions involved shall be submitted to the Audit Board provided for in Article 101 (3) of the implementing Regulation.
The Audit Board is a non-permanent body, and shall be duly installed upon request of the shareholders, in accordance with the applicable laws.