Common use of Board of Directors’ Audit Committee Clause in Contracts

Board of Directors’ Audit Committee. ▪ To make recommendations about the operation and efficacy of the compliance Manual ▪ To see to the update of the evaluation of the risk of corruption, fraud and management of the money laundering risk, ensuring that it is included as part of the risk assessment and strategic plans. ▪ To analyze the risks of reports of corruption, fraud and management of the money laundering and financing of terrorism risks, regarding the policies and control activities and to make recommendations regarding them. ▪ To know and make recommendations regarding the results of the evaluations of the denouncements related to corruption, fraud and management of the money laundering and financing of terrorism risks. ▪ To make follow up and make recommendations regarding the effectiveness of the systems for the prevention of corruption, fraud and management of the money laundering and financing of terrorism risks. ▪ To verify the adequate disclosure of information regarding corruption, fraud, money laundering and financing of terrorism events ▪ To recommend to the Board of Directors the guidelines, policies, principles and measures to be applied regarding the fight against corruption ▪ To monitor the adequate application and efficacy of the anti – corruption strategy. ▪ To request the reports, the execution of the investigations or special works that it considers as pertinent for the adequate performance of its duties ▪ To know and make follow up of the denouncements of corruption and accounting and financial fraud that affect Cenit’s financial statements, as well as of those denouncements regarding issues related to ethics that are of its competence ▪ To know the report presented by the Ethics and Compliance Officer regarding the fight against corruption and to recommend actions that strengthen that fight. ▪ To review the adequacy of the procedures for the receipt, conservation and treatment of the claims related to accounting systems and reporting of financial data, internal Control system, Internal Audit, External and / or statutory audits, including the procedure to file anonymous complaints, denouncements and claims by the Company’s employees