28 Apr 2014 07:50
Minutes of the Meeting of the Audit Committee No. 110: : In the City of Buenos Aires, on the 24th day of the month of April 2014, at 14.00 hours, the Audit Committee of Grupo Clarín S.A. (the "Company") meets at the Company's headquarters on calle Piedras 174, Federal Capital, with the presence of Messrs. Directors Alejandro Alberto Urricelqui, Alberto César Menzani and Lorenzo Calcagno. Mr. Urricelqui opens the meeting, and since there is sufficient quorum, he submits to the consideration of the Committee the only point of the agenda: "Opinion of the Audit Committee on the proposal of the Board to the Shareholders relating to the appointment of the External Auditor". Mr. Menzani speaks and states that the Board of Directors has decided to propose the firm Price Waterhouse & Co S.R.L., of recognized national and international credentials, and the appointment of Ms. Teresita Mabel Amor and Mr. Alejandro Pablo Frechou, both members of that firm, and external auditor and alternate external auditor of the Company, respectively, to be considered by the shareholders at the General Ordinary Shareholders' Meeting to be held next 29 April 2014. Taking into account Mr. Menzani's words, pursuant to Section 110, Subsection a) of Law No. 26,831, this Committee must issue an opinion on the proposal of the Board of Directors that was expressed above. For that purpose, the members of the Audit Committee debate about the credentials of the auditing firm and of the partners that will be appointed, highlighting that the current firm of External Auditors of the Company, Price Waterhouse & Co S.R.L., has a prestige that places it as one of the most recognised auditing firms in the market, both at the national and international levels. The Audit Committee analyses the reasons invoked by the Board of Directors as grounds to propose the continuity of the current firm of external auditors. Also, the Chairman indicates that the Audit Committee has had the opportunity to evaluate in previous fiscal years, the planning, performance and independence of such auditing firm and has no observations to make. Therefore, in light of the above, the Audit Committee's opinion is unanimously in favour of the proposal of the Board of Directors for the appointment of Teresita Mabel Amor and Alejandro Pablo Frechou, both members of Price Waterhouse & Co S.R.L., as External Auditors, principal auditor and alternate, respectively, of the Company, for the economic year that will end on 31 December 2014. In light of the above, and with no further items to consider, the meeting is adjourned at 11.00 hours.