Aenza Saa · BVL:AENZAC1
Aenza Saa — Corporate Update (March 2022)
9 slides from Aenza Saa's corporate update, Mar 30, 2022
Slide 1: Corporate Audit AENZA 2022-2024
Corporate AuditAENZA 2022-2024 January 28, 2022
Slide 2: Background and Current Situation
Background and Current Situation In early 2017, while the 2016 audit was in progress, PWC argued a conflict of independence and declined to continue with the ongoing auditIn November 2017, an audit contract was entered into with Moore Stephens ("MS") for a term of 2 yearsAdditionally, between March/
Slide 3: Historical Audit Costs
Historical Audit Costs (*) Moore currently has a claim against the Company to reimburse legal costs incurred in a PCAOB audit in 2019 for US$400K (S/.1.6MM). The internal legal analysis concludes that there are no elements in the contract with Moore that support a payment obligation by AENZA.
Slide 4: Proposal invitation process and timeline
The Big 4 were contacted and together with Moore Stephens were invited to the proposal submission processTimeline: Sending of Invitation Letters (*) Nov/9/21Submission of Proposals (**) Dec/17/21Presentation of Proposals to the Audit Committee Jan/14/22Evaluation and Recommendation to the Board of D
Slide 5: Evaluation Process
Evaluation Process Two stages were established for the presentation of proposals: Delivery of Technical Proposal and presentation (via Teams) to the Audit Committee, the CFO, the Corporate Controller Manager and the Corporate Accounting Manager.Submission of Economic Proposal This is to ensure that
Slide 6: Evaluation Process (cont')
Evaluation Process (cont’) Methodology:Evaluation of the technical proposals, on a scale of 1 to 5 (5 being the maximum)A scheme of 4 votes was established: 3 members of the Audit Committee and the CFO, whose results are averaged with equal weightsThe weighted average score of each of the proposals
Slide 7: Results
Results Carlos Rojas Santiago Hernando Antonio C. Valente Dennis Gray Average Technical Evaluation Possible Maximum Discount Technical Evaluation Bonus Applicable Discount Economic Proposal (en S/.) Economic Proposal Adjusted by Technical Qualification (S/.) AENZA \ KPMG Deloitte Moore PWC 4.80 4.20
Slide 8: Committee Recommendation
Committee Recommendation Upon completion of the Audit Committee's evaluation process, the results of the rating of the proposals received:The Audit Committee after a rigorous competitive selection process recommends to the Corporate Board of Directors the hiring of the firm KPMG as the first choice
Slide 9: Invitation response letter (Spanish)
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