Coronavirus - Legal Implications: Corporate Governance

[This article is part of a guide by Morais Leitão dedicated to the legal implications of the - at the time - new coronavirus.]

In the context of the audit activity, the indirect impact of this situation and the legal framework consequently approved on the performance of the audit services is significant, although there is still no published legislation or regulation directly related to the current Covid-19 pandemic.

The CMVM (Portuguese Securities Market Commission) issued, on 20-02-2020, two very important communications in this context: (i) CMVM Decisions and recommendations on Covid-19; and (ii) Recommendations on the audit activity within the scope of Covid-19.

Topics covered:

• Auditor reporting relating to the last financial year
• Legal and regulatory reports to supervisory authorities
• Cancellation and postponement of shareholder meetings
• Holding shareholders meetings remotely via telematic means
• Common understanding of CMVM, IPCG and AEM

For more information, please download the document below.