Grupo La Comer

Corporate governance

Code of Best Corporate Governance Practices

La Comer operates under optimal internal control environment, providing security and reliability of financial information, promoting the efficiency and effectiveness of operations, ensuring compliance with internal and external regulations, always maximizing the quality of resources.

Our Board of Directors and Management Team, develop their activities adhering and promoting the values established in our code of ethics, always in compliance with the recommendations of the code of best corporate practices.

Board of Directors

The Board of Directors is responsible for setting the strategy of long-term business, supervising the administration, approve major business decisions, manage risk, monitor compliance, as well as choose, evaluate and remove the General Director and the relevant officers of the company.

The Audit Committee

The audit committee is responsible for conducting the review of our financial statements and recommend or not, the approval to the Board of Directors; monitor and ensure compliance with applicable financial reporting standards; evaluate the performance of the external auditor; review and report to the Board the conditions of control and internal audit of the company; monitoring mechanisms and internal controls to verify that company operations adhere to the applicable regulations, and investigate any breaches; monitor compliance with the agreements of the corporate departments of the company; obtain expert opinion, and issue the opinions and reports required or established by law.

Corporate Practices Committee

It is responsible for preventing or reducing the risks in operations that could damage the value of the company or that benefit a particular group of shareholders. The Committee may convene a shareholders’ meeting and include matters on the agenda of the meeting that are considered necessary, approve the compensation scheme for executive directors and key executives, approve policies regarding the use of Company assets or transactions with related parties and support the Board in the preparation of reports of accounting practices.

The members of this committee are independent directors, in accordance with the Securities Market Act.