Investor Presentaiton
II. AS TO AUDITING:
a) We analyzed the status of the internal control system and were informed in
detail of the Internal and Independent Audit programs and work development,
as well as the main aspects requiring improvement and follow-up on preventive
and corrective measures implemented by Management based on the results
from investigations relating to compliances with the operating and accounting
recording guidelines and policies of the Company and Subsidiaries. Therefore, it
is our opinion that effectiveness requirements have been properly met for the
Company to operate under a general control environment.
b) We evaluated the performance of the independent auditors who are responsible
for rendering an opinion on the reasonability of the Company's Financial
Statements and their compliance with International Financial Reporting
Standards. We consider that the partners at Mancera, S.C. (a member of Ernst &
Young Global) meet the necessary requirements of professional qualifications and
independence for intellectual and financial action and we, therefore, recommend
their appointment to examine and issue a report on the financial statements of
Wal-Mart de México, S. A. B. de C.V. and Subsidiaries as of December 31, 2013.
No additional or supplementary services for this concept were provided during
2013.
c) We attended several meetings to review the annual and quarterly financial
statements of the Company and at that time, recommended releasing such
financial information.
d) We were informed of the accounting policies approved and followed during year
2013 and any amendments, and it is important to mention the policy on assets
and liabilities for sale and discontinuous transactions which was included as a
result of the Restaurant division sale transaction, whose effect is described on
Note 7 to the Company's financial statements.
e) We were informed of the progress on the investment plan and of any impacts on
the results sent to the Mexican Stock Exchange based on the adjustments made
to the store opening processes, with no observations noted.
f) We followed up on relevant observations made by shareholders, directors,
relevant executives, associates and, in general, any third party as to the
accounting, internal controls and matters relating to internal and external audits.
g) We followed up on the agreements reached at the Shareholders' and Board
meetings of the Company, with no observations noted.
Based on performed work and an opinion from the independent auditors, it is our
conclusion that the accounting and reporting policies and criteria followed by the
Company are adequate and sufficient, and have been consistently applied. As a
result, the information submitted by the CEO reasonably reflects the Company's
financial position and results.
Therefore, we recommend that the Company's Board of Directors submit the
Financial Statements of Wal-Mart de México, S.A.B. de C.V. and Subsidiaries for the
year ended on December 31, 2013 for approval before the Shareholders' Meeting.
Sincerely,
всего
Adolfo Cerezo, Eng.
President
Audit and Corporate Governance Committees
Mexico City, February 17, 2014.
2013 Financial and
Social Responsibility Report
62
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