SOUTHERN PERU COPPER CORPORATION 34. SOUTHERN PERU COPPER CORPORATION 35. 7.  Although  independent  audits  provide  financial  opinion, they may also provide specialized reports or  opinion on accounting inspections, operative audits,  systems audits, project evaluations, cost system  assessments or introductions, tax audits, portfolio assessment,  valuations  for  asset  adjustments,  portfolio evaluations, inventories and other special  services.  Different auditors should perform these assessments  or, if performed by the same auditors, their indepen- dence of opinion should not be affected. The com- pany will disclose all the audits and special reports  prepared by the auditor.  All services provided by the auditing firm or indepen- dent auditor will be disclosed, with specific mention  of their percentage in the total services provided and  the latter’s share in the auditing company’s or inde- pendent auditor’s revenues.  (Principle IV.C, second, third and fourth paragraphs) X COMPLIANCE PRINCIPLE 0  1  2  3  4  REASONS FOR THE CHOSEN OPTION All accounting or financial studies and audits must be ap- proved by SPCC’s Audit Committee who evaluate in detail  the involved costs and subject matter. The corporation  will favor retaining independent third party auditors bear- ing no relation to the Company for performing financial  audits as an indirect control practice and in compliance  with the United States Sabarnes-Oxley Act.  Operational, computer system, tax, project feasibility,  process evaluation or introduction, asset valuation and  other audits have been performed in recent years.  Our Company honors these requests through the Con- trol and Finance Directorate officials who are in charge  of relationships with shareholders, investors and other  groups. The Company has in place an internal procedure to de- termine confidentiality levels for corporate information.  This procedure implies a certain degree of sensitivity to  the Company’s information. A review of each particular  case determines the likely impact on SPCC’s competitive  position. In view that SPCC is a corporation organized under the  regulations of the State of Delaware, United States of  America, its bylaws are not required to include this prin- ciple, which is instead regulated by management.  The Company has in place an Independent Audit area  that operates independently from other functional areas  in our corporation. It direclty reports to the Executive  President, and the Company’s Audit Committee. 8.  Requests for information filed by individual share- holders, investors in general, and stakeholders in  relation to the company will be filed with the office  and/or company official specially designated for that  purpose. (Principle IV.D.2)  X 9.  Doubts concerning the confidential nature of the in- formation requested by shareholders or stakeholders  will be properly addressed. The corresponding crite- ria will be adopted by the Board and confirmed by  the General Meeting, and included in the company’s  bylaws or internal regulations. However, disclosure  of information will not jeopardize the company’s  competitive standing nor affect the normal conduct  of the company’s business.  (Principle IV.D.3) X 10. The company will hire an internal auditor. The inter- nal auditor will discharge his functions with profes- sional independence from the company retaining its  services, and guided by the principles of diligence,  loyalty and reserve that the company requires from  X COMPLIANCE PRINCIPLE 0  1  2  3  4  REASONS FOR THE CHOSEN OPTION