The National Bank appoints an external company auditor in accordance with Article 27.1 of Protocol No 4 on the Statute of the European System of Central Banks and of the European Central Bank, attached to the European Treaties. This company auditor performs his assignment in conformity with article 21bis of the Organic Law of the Bank.

Within the specific legal framework that applies to the Bank the Council of Regency is competent with regard to the approval of the annual accounts and the annual report (see Article 20.4 of the Organic Law and Articles 30.5 and 30.8 of the Statutes of the Bank). Hence, the report of the company auditor is addressed to the Council of Regency, the competent organ of the Bank.

After approval by the Council of Regency, the annual accounts and the annual report are presented to the General Meeting of Shareholders (see Article 28.3 and Article 61 of the Statutes). In view of the limited competence of the General Meeting, it does not deliberate upon the report of the company auditor. Therefore, in accordance with the applicable legal framework, the presence of the company auditor at the General Meeting is not foreseen.