CAC

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    What are the payment terms for additional fees charged by Co-CAC?

    Agreed upon by mutual consent, with specific percentages at different stages.

    What is the principle of permanence in the mission of the CAC?

    Ensures continuous investigations without exhaustive daily oversight.

    What are the three main obligations of the CAC during their permanent mission?

    Alert procedure, report criminal acts, and diligence in managing VM accounts.

    How does the CAC verify the regularity of financial statements?

    By checking compliance with legal and regulatory provisions.

    What happens if significant deficiencies in internal control are found?

    They must be mentioned in the general report presented to shareholders.

    What is the consequence of the CAC's disapproval of financial statements?

    The CAC's responsibility is not engaged if all due diligence is performed.

    What must the CAC do if the management modifies financial statements after observations?

    Rectify their report accordingly.

    What is the role of the CAC regarding the report of management?

    The CAC does not provide assurance on the management report.

    What are the forms of certification the CAC can provide?

    Approval, approval with reservations, or disapproval of accounts.

    What must the CAC include in their general report?

    An opinion on the financial statements and the basis for that opinion.

    What is the deadline for the CAC to communicate their report to management?

    Within one month following the communication of financial statements.

    What should the CAC do if they detect irregularities during their mission?

    Report them to the assembly and include them in their general report.

    What is the significance of the CAC's opinion on financial statements?

    It provides assurance that the statements are free from material misstatements.

    What is the CAC's obligation regarding the effectiveness of internal control?

    To verify it periodically and report any significant deficiencies.

    What must the CAC do if they find major inconsistencies in the management report?

    Determine if the management report or financial statements need modification.

    What is the role of the management in preparing the management report?

    To ensure its accuracy and timely communication to the CAC.