Board of Auditors of the Banco de Portugal

The Board of Auditors comprises three Members appointed by the Finance Minister:  One of the members is appointed as Chairman, with a casting vote, another is a chartered accountant, and the third is a person of recognised competence in economic matters.

The members of the Board of Auditors are in office for a term of three years, renewable once for an equal period by means of a decision of the Finance Minister.

The Board of Auditors is responsible for:

a) Monitoring the business of the Bank and the observance of the applicable laws and regulations;
b) Examining the regular statements submitted by the Board of Directors during its term of office;
c) Issuing its opinion on the budget, the balance sheet and the annual accounts;
d) Examining the books, vaults and safes of the Bank, whenever deemed convenient, subject to the appropriate security measures;
e) Drawing the attention of the Governor or the Board of Directors to any matter that needs to be weighed, and giving its opinion on any subject submitted by them.

The members of the Board of Auditors receive a monthly remuneration set by the Finance Minister that cannot include any variable component.

Composition of the Board of Auditors

Chairman: Emílio Rui da Veiga Peixoto Vilar
Member: Rui da Conceição Nunes
Member: Revisor Oficial de Contas - Amável Alberto Freixo Calhau