SECTION 378

May not be a company auditor: 1) the founders, members, beneficiaries of special benefits, company management or of its subsidiaries, as well as their spouse (s); 2) parents and descendants up to the fourth generation included, individuals referred to in point 1°) of this article; 3) company management holding one-tenth of the company stated capital or whose company holds one-tenth of the capital, as well as their spouse (s); 4) individuals who, directly or indirectly, or through an intermediary, receive, either from persons referred to in point 1°) of this article, or any company referred to in point 3°) of this article, a salary or compensation due to a permanent activity other than that of an auditor; the same applies to the spouses of those individuals; 5) auditor’s firms if one of the members, shareholders or company management falls under one of the situations referred to in points 1°) to 4°) of this article; 6) auditor’s firms if one of either the company management, or the member or the shareholder performing the duties of the auditor, has his spouse who falls under one of the categories referred to in point 5°) this article. Term of office of the auditor