Activities performed during 2014
3.1.Meetings
The Audit Commission met seven times during 2014, attended by all of its members on each occasion. The Commission has issued the corresponding reports, prior to approval by the board of directors, relating to the financial information to be submitted to the regulators (the CNMV, National Securities Market Commission; and the SEC, Securities and Exchange Commission), as well as the reports relating to approval of the conditions of the asset sales between Abengoa and Abengoa Yield, in accordance with the procedures for authorizing and supervising related transactions between these companies.
Madrid, February 18, 2014
- Financial information relating to the fourth quarter of 2013.
- Presentation by the external auditor of the conclusions of the 2013 audit.
- Summary of the evaluation of SOX internal control deficiencies carried out by the company.
- Monitoring of the Internal Audit Plan 2013/2014.
- Monitoring of the fees for external audit and consultancy services in 2013.
- Information about finalized/planned related transactions in the coming months.
- Information about the whistleblower channel policy.
- Approval of the Commission’s activity report for 2013.
- Conclusions of the compliance review of the Group’s financing covenants.
- Conclusions of the verification work on the recoverability of Group assets.
Madrid, May 13, 2014
- Financial information relating to the first quarter of 2014.
- Monitoring of the Internal Audit Plan 2013/2014.
- Monitoring of consultancy fees with the “Big Four” in 2014.
- Information about finalized/planned related transactions in the coming months.
- Information about the whistleblower channel policy.
- Monitoring of the Abengoa Yield IPO in the USA.
- Conclusions of the compliance review of the Group’s financing covenants.
- Evaluation of the services provided by the external auditor in subsidiary companies.
Madrid, July 30, 2014
- Financial information relating to the first half of 2014.
- Presentation by the external auditor of the conclusions of the Limited Review as at June 30, 2014.
- Monitoring of the internal audit plan 2014.
- Monitoring of the fees for external audit and consultancy services in the first half of 2014.
- Information about the whistleblower channel policy.
- Renewal of the pre-approval policy for tasks carried out by the auditor.
- Conclusions of the compliance review of the Group’s financing covenants.
- Status of the verification work regarding the recoverability of Group assets.
Madrid, Agoust 11, 2014
- Financial information relating to the first half of 2014.
- Auditor’s conclusions of the Limited Review as at June 30, 2014.
Madrid, September 20, 2014
- Analysis of the proposed acquisition by Abengoa Yield of assets belonging to Abengoa S.A. or companies in its group, under the ROFO procedure.
Madrid, November 5, 2014
- Financial information relating to the third quarter of 2014.
- Presentation by the external auditor of the conclusions of the Limited Review as at September 30, 2014.
- Monitoring of the internal audit plan 2014.
- Monitoring of the fees for external audit and consultancy services in 2014.
- Information about the whistleblower channel policy.
- Proposal to renew the external audit contract for 2015.
- Conclusions of the compliance review of the Group’s financing covenants.
- Status of the verification work regarding the recoverability of the Group’s R&D assets.
Madrid, December 5, 2014
- Examination of the proposal to modify certain agreement signed with Abengoa Yield
3.2. Main activity areas of the Audit Commission
Meeting its primary function of providing support to the Board of Directors, the main activities discussed and analyzed by the Audit Commission can be grouped into the following different areas of competency: