Viva Aerobus has an Audit Committee and a Corporate Practice Committee, which are composed of two and three members, respectively. These Committees meet every quarter.

The responsibilities of our Audit and Corporate Practices Committees include:

  • Appoint and/or remove our external auditor
  • Supervise the work performed by KPMG (our external auditor), analyzing its reports
  • Analyze and supervise the elaboration of our financial statements
  • Inform our Board of Directors about internal control and its adaptation process
  • Request reports to our Executives and Board of Directors, when appropriate
  • Inform the Board of Directors about any irregularity that it encounters
  • Investigate potential irregularities in our operations, policies and regulations, internal control systems, accounting and internal audit practices
  • Receive and analyze recommendations and observations made by our shareholders, members of our Board of Directors, executives, external auditors and any other third party involved, taking the necessary actions
  • Call Shareholders’ Meetings
  • Supervise the activities of our Chairman
  • Evaluate the reports prepared by our executives, as well as the performance of our external auditor
  • Submit an annual report to the Board of Directors
  • Issue opinions about key executives to the Board of Directors, as well as an assessment of their performance
  • Review transactions with related parties
  • Support the Board of Directors in the evaluation of internal control, including transactions with related parties, compensation plans, as well as reports prepared by external and internal auditors
  • Receive notices and recommendations from Mexican regulatory entities, proposing the measures and decisions that must be taken in response to such notices and recommendations

The Audit and Corporate Practice Committees also have the responsibility to issue its opinion to the Board of Directors about the performance of executives, the compensation of the CFO and other relevant officers, as well as transactions with related parties. Additionally, these Committees can seek advice from independent experts, call Shareholders’ Meetings and support the meetings of the Board of Directors on subjects related to the preparation of reports.