Pursuant to the Transparency Decree and CNV rules, Argentine public companies must appoint an Audit Committee (Comité de Auditoría) composed of at least three members of the Board of Directors, a majority of which must be independent in accordance with Argentine law.   Pursuant to our bylaws, one independent director is appointed by holders of our Class A shares and one by holders of our Class B shares.  Our Audit Committee’s duties include:
- monitoring our internal control, administrative and accounting systems;
- supervising the application of our risk management policies;
- providing the market adequate information regarding conflicts of interests that may arise between our company and our directors or controlling shareholders;
- rendering opinions on transactions with related parties; and
- supervising and reporting to regulatory authorities the existence of any kind of conflict of interest.