The Board of Auditors comprises three members appointed by the Minister of Finance: a Chair, with the casting vote, a Statutory Auditor and an individual of recognised competence in economics.

The members of the Board of Auditors carry out their roles for a three-year period, renewable once for the same time length by decision of the Minister of Finance. 

The Board of Auditors is responsible for:

• Monitoring the Bank's operation and compliance with the applicable laws and regulations 
• Examining the periodic positions presented by the Board of Directors during its management 
• Issuing its opinion on the budget, balance sheet and annual management accounts 
• Examining the Bank's books, vaults and safes whenever deemed appropriate, pursuant to the inherent security rules 
• Raising with the Governor or the Board of Directors any topic it believes should be considered and issuing its opinion on any matter submitted to it by those bodies 

The members of the Board of Auditors have the right to monthly compensation, set by the Minister of Finance, and without any variable component. 

Composition of the Board of Auditors

Chair: Nuno Gonçalves Gracias Fernandes
Member - Statutory Auditor: Óscar Manuel Machado Figueiredo
Member: Margarida Paula Calado Neca Vieira de Abreu