Balance Sheet at 31 December 2010 of BBVA

Comments
Article 23 of the Board Regulations establishes that the secretary, as well as performing the duties
attributed by law and by the Company bylaws, shall be concerned with the formal and material
legality of the Board’s actions, ensuring they are in compliance with the Company bylaws, the
AGM regulations and the board regulations, and that they take into account any recommendations
on good governance that the Company has underwritten at any time.
B.1.35. Indicate the mechanisms, if any, used by the Company to preserve the independence of the auditor,
the financial analysts, the investment banks and the rating agencies.
The BBVA Audit & Compliance committee regulations establish that this committee’s duties, described
in section B.2.3.2, include ensuring the independence of the external audit in two senses
- ensuring that the auditors' warnings, opinions and recommendations cannot be compromised.
- establishing the incompatibility between the provision of audit services and the provision of
consultancy, unless there are no alternatives in the market to the auditors or companies in the auditors’
group of equal value in terms of their content, quality or efficiency. In such event, the Committee must
grant its approval, which can be done in advance by delegation to its Chairman.
This matter is subjected to special attention by the Audit committee, which holds periodic meetings with
the external auditor, to know the details of the progress and quality of the external audit work. It
monitors the engagement of consultancy services to ensure compliance with the Committee’s
Regulations and the applicable legislation in order to safeguard the independence of the
external auditor.
Additionally, BBVA, as its shares are listed on the New York stock exchange, is subject to
compliance with the standards established in this respect under the Sarbanes Oxley Act and its
ramifications.
Likewise, in compliance with additional provision eighteen in the Securities Exchange Act, the
corresponding reports have been issued on the independence of the auditor.
B.1.36. Indicate whether the Company has changed the external auditor during the fiscal year. If so, identify
the incoming and the outgoing auditor:
NO
Outgoing auditor
Incoming auditor
If there has been any disagreement with the outgoing auditor, describe the content thereof:
NO
B.1.37. Indicate whether the audit firm performs other non-audit work for the Company and/or its Group. If so,
state the amount of the fees paid for such work and the percentage they represent of the aggregate fees
charged to the Company and/or its Group.
YES
Amount of other non-audit work (thousands
of Euros)
Company Group Total
773 1,834 2,607
WARNING: The English version is only a translation of the original in Spanish for information purposes. In case of a discrepancy,
the Spanish original prevails.