Minutes of the Audit Committee Meeting of 8:00 am

Atualizado em 2017-02-22T16:32:40
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                MARCOPOLO S.A.
       CNPJ (Corporate Taxpayer ID) no.
   NIRE (Company Registration ID) no. 43 3
                  0000723 5
          A Publicly Traded Company

   Opinion of the Audit and Risk Committee

The Audit and Risk Committee  (Committee)  of
Marcopolo S.A.  hereby  states  that,  during
the course  of  2016,  six  regular  meetings
were  held  to  discuss  matters  within  its
purview.  Several  topics   were   considered
during those meetings such as supervision  of
the independent and internal  audit  process,
assessment of the systems used  for  internal
control and risk management, compliance  with
legal and regulatory aspects relating to  the
preparation  of  financial   statements   and
evaluation of major tax topics,  as  well  as
any accusations of fraud.

More precisely, the Committee  performed  the
following  activities  during  that   taxable
- Supervised the activity of the  independent
 auditors, examined their  reports  and  the
 recommendations provided;
-  Examined  the  annual  to-do   list,   its
 execution and the reports prepared  by  the
 internal    auditors,    supervised     the
 activities  performed  at   Brazilian   and
 foreign units;
-  Supervised  activities   concerning   risk
 management within the Company;
-  Assessed  and   discussed   major   topics
 addressed in the reports of independent and
 internal auditors while reporting issues to
 the Board of Directors as appropriate;
-   Examined    the    company's    Quarterly
 Information  and   its   Annual   Financial
 Statements in cooperation with  independent