3. Activities of the Audit and Control Committee: Sessions held, business transacted, reports and attendees

During fiscal year 2013, the Audit and Control Committee has met five times. Attendance of its members has reached 96.7%.

Throughout fiscal year 2013, the activities of the Audit and Control Committee are summarized as follows:

Date of meeting Main business transacted Reports and motions submitted to the Board of Directors Inditex’s attendees
11/3/2013
  • Review of the financial statements of the company. Review of the annual financial report to be disclosed by the Board of Directors to the market and its supervisory boards.
  • Report on tax policies enforced in the course of the year (Code of Best Tax practices).
  • Meeting with the external auditors of the company.
  • Internal Audit: issues within its remit.
  • Annual Corporate Governance Report.
  • Report of the Committee of Ethics on the enforcement of the Corporate Compliance regulations of the Inditex Group and of the activities of the Committee.
  • Half-yearly report (August 2012 - January 2013) of the Code Compliance Supervisory Board (CCSB).
  • Annual financial information (FY2012).
  • Annual Corporate Governance Report.
  • Report of the Committee of Ethics on the enforcement of the Corporate Compliance regulations of the Inditex Group and of the activities of the Committee.
  • Half-yearly report (August 2012 - January 2013) of the Code Compliance Supervisory Board (CCSB).
  • Mr Pablo Isla Álvarez de Tejera, Chairman and Chief Executive Officer
  • Mr Ignacio Fernández Fernández, Chief Financial Officer
  • Mr Carlos Crespo González, Internal Audit Director
  • Mr Andrés Sánchez Iglesias, Tax Director
  • Mr Antonio Abril Abadín, General Counsel and Secretary of the Board
  • Mr Santiago Martínez-Lage Sobredo, Deputy-Secretary of the Board
10/6/2013
  • Review of the periodic financial information that the Board of Directors must provide to the market and to the supervisory bodies.
  • Internal Audit: analytical review of 1Q2013 results.
  • Internal Audit: issues within its remit.
  • Risks Management: Risks Management Policy.
  • Preparation of the Triple Report on financial, social and environmental issues.
  • Review of the Balance Sheet of Industria de Diseño Textil, S.A. (Inditex, S.A.) for the purposes of the updating provided in Act 16/2012, of 27th December, effective as of 1st February 2013.
  • Annual Activities Report of the Audit and Control Committee (sec. 14.2.p) B.D.R.).
  • 1Q2013 financial information.
  • New Internal Audit Charter.
  • Triple report: financial, social and environmental.
  • Risks Management Policy.
  • Balance Sheet of Industria de Diseño Textil, S.A. (Inditex, S.A.) for the purposes of the updating provided in Act 16/2012, of 27th December.
  • Mr Pablo Isla Álvarez de Tejera, Chairman and Chief Executive Officer
  • Mr Ignacio Fernández Fernández, Chief Financial Officer
  • Mr Carlos Crespo González, Internal Audit Director
  • Mr Félix Poza Peña, Corporate Social Responsibility Director
  • Ms. Martina Fernández Porto, ERM Director
  • Mr Eliseo Oroza Rodríguez, Director of Administration
16/7/2013
  • Accounting policies.
  • Industrial Property: issues within its remit.
  • Internal Audit: issues within its remit.
  • Report on accounting policies.
  • Report on the status of Industrial and Intellectual Property in the major global markets.
  • Report on different issues within the ordinary remit of the internal audit Department.
  • Mr Ignacio Fernández Fernández, Chief Financial Officer
  • Mr Javier Losada Montero, Planning and Control Director.
  • Ms. Belén Varela Nieto, Head of Consolidation.
  • Mr Antonio Abril Abadín, General Counsel and Secretary of the Board
  • Ms. Susana Fernández Martín, Director of the IP Department.
  • Ms Isabel Morugan Gómez, member of the IP Department.
  • Mr Carlos Crespo González, Internal Audit Director.
12/9/2013
  • Review of the periodic financial information that the Board of Directors must provide to the market and its supervisory bodies.
  • Meeting with the external auditors.
  • Loss prevention and inventory policy.
  • Internal Audit: issues within its remit.
  • Report of the Committee of Ethics on the enforcement of Corporate Compliance of the Inditex Group and on the activities of the Committee.
  • Half-yearly report (February - July 2013) of the Code Compliance Supervisory Board (CCSB).
  • 1H2013 financial information
  • Report of the Committee of Ethics on the enforcement of Corporate Compliance of the Inditex Group and on the activities of the Committee.
  • Half-yearly report (February - July 2013) of the Code Compliance Supervisory Board (CCSB).
  • Mr Pablo Isla Álvarez de Tejera, Chairman and Chief Executive Officer.
  • Mr Ignacio Fernández Fernández, Chief Financial Officer
  • Mr Carlos Crespo González, Internal Audit Director
  • Mr Antonio Trillo Prego, Product Diversion Control Director.
  • Mr Antonio Abril Abadín, General Counsel and Secretary of the Board.
9/12/2013
  • Review of the periodic financial information that the Board of Directors must provide to the market and its supervisory.
  • Internal Audit: Analytical review 3Q2012 results.
  • External audit: 2013 audit Plan and meeting with external auditors.
  • Financial management: Foreign exchange risk.
  • IT Department: follow-up of projects and risks of the IT area.
  • Internal Audit: issues within its remit.
  • 3Q2013 financial information
  • Mr Pablo Isla Álvarez de Tejera, Chairman and Chief Executive Officer
  • Mr Ignacio Fernández Fernández, Chief Financial Officer
  • Mr Carlos Crespo González, Internal Audit Director
  • Mr José Manuel Romay de la Colina, Financial Management Director
  • Ms María Paz Trillo, member of the Financial Management Department
  • Mr Fernando de Bunes Ibarra, member of the Financial Management Department
  • Mr Gabriel Moneo Marina, IT Director
  • Mr Julio Devesa Miramontes, member of the IT Department
  • Mr Julio Fernández-Argüelles Lobato, member of the IT Department