Discussion in 'Legal Terminology' started by gjuliani, Aug 8, 2006.

  1. gjuliani Member

    Field and topic:
    I am translating a company by-laws document in which reference is made to Comisarios.

    Sample sentence:
    The Comisarios are referred to along with the Directors, President and General Manager. I originally thought that the word refers to Auditors but then I am not sure. In one sentence, "Los Directores, el Presidente, el Vicepresidente, Gerente General y los Comisarios de la compania podran ser o no accionistas y seran elegidos por periodos de dos años" reference is made to the fact that they may be shareholders. In my experience, auditors are not shareholders of the company they audit. So what is another option for Comisario, Commissioner? That does not make sense to me! Any comments?
  2. ILT

    ILT Senior Member

    México - Español/Castellano
    In México, the Comisario of the company may be a shareholder, and his job is to make sure the assets of the company are used properly. He is kind of an internal auditor who supervises the company. Take a look here, it details his functions and obligations pretty clearly.
  3. gjuliani Member

    Thank you, but I think that this must be an external auditor because this person may not be an employee and an internal auditor is by definition an employee of the company. It looks like the Comisarios responsibilities are very similar if not the same as an external auditor. Thanks.
  4. Maika

    Maika Senior Member

    Ciudad de México
    Mexico - Spanish
    I Love Translating is right, Comisario is in charge of the surveillance of the company, and he (she) must not be an auditor (external or internal), must not be an employee of the company, and can be a partner. In the practice, it is usually an external accountant, but it can be anybody even without being an accountant. In the General Law of Commercial Societies of Mexico it says that the Comisario can hire independently the persons he or she needs to carry out this task, in case of need.

    Hope it helps
  5. A&A2010 New Member

    Venezuelan Spanish
    I just look at this word today and I found in the Black´s Law Dictionary that the correct word tho Comisario, is "Commissaire". The dictionary said: In french Law, a person who receives from a meeting of shareholders a especial authority, viz, that checking and examining the accounts of a manager or of valuing the apport en nature... I hope It helps
  6. Taycaro Senior Member

    Chihuahua, Mexico
    Mexican Spanish
    Yo uso en mis traducciones "Statutory Auditor". ¿Qué les parece?
  7. Hulalessar

    Hulalessar Senior Member

    English - England
    This is another case of trying to find a word for a role or concept which is non-existent in common law jurisdictions. There is an English word "commissary" but it does not have the narrow meaning required here. "Statutory auditor" suggests "external auditor" i.e. an independent person appointed to check the accounts. Since the comisario's role appears to be to exercise vigilance the best I can come up with is "guardian".
  8. Salvatore Rina Banned

    Quizá "Clerk of the Corporation".
  9. Hulalessar

    Hulalessar Senior Member

    English - England
    Sounds like another way of saying "company secretary".
  10. Salvatore Rina Banned

  11. Hulalessar

    Hulalessar Senior Member

    English - England
    I think that in that "corporation" refers to a local or other public authority. In the UK whilst as a legal term "corporation" means any body which is incorporated, it is not generally used to refer to business entities, which are usually referred to as companies. Apart from that it will be noted that the word "advise" crops up quite a lot. Nothing much about ensuring compliance, which is what the comisario's role seems to be. In fact, now I think of it "compliance officer" would be better than "guardian".
  12. Eugeniag37

    Eugeniag37 Senior Member

    Maracaibo, Venezuela
    Spanish, Venezuela
    What about "trustee"?
  13. David

    David Banned

    Why not use

    Comisario [member of the Board charged with financial oversight--Trans. N.]

    I wouldn't use "trustee," as that would imply a fideicomiso or fideicomisario.

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