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When the Association has over 15 members, the Board of Directors will propose to the Assembly an auditor, who may be a member of the Association but not one of the Board of Directors or a third party.
At the first General Assembly held after the Association has more than 100 members registered, the agenda of the Assembly must necessarily include the approval of a Board of Statutory Auditors.
The Board of Statutory Auditors must consist of three members. Members of the Board of Directors cannot be auditors. At least one of the auditors must be an authorized accountant or a chartered accountant.
The General Assembly shall approve the general rules of organization and functioning of the Board of Statutory Auditors. The Board of Statutory Auditors can draft its internal rules of operation.
The Board of Directors or any member of the Association having the right to vote may designate the Board of Statutory Auditors.
The proposals of the members of the Association for designating the Board of Statutory Auditors shall be submitted to the Board of Directors at least 5 working days prior to the holding of the General Assembly Meeting. Proposals submitted after this deadline will not be taken into consideration.
All proposals must include the curriculum vitae of each of the auditors and their financial proposal.
The tasks of the auditor or of the Board of Statutory Auditors are the following:
• Check the way the assets of the Association are operated
• Prepare and submit reports to the General Assembly
• Take part in meetings of the Board of Directors without having the right to vote
• Fulfill any other task established by the General Assembly
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