The reliability and transparency of our corporate governance policies at FEMSA is essential to our long-term success.
We have a long-standing commitment to reporting our results with objectivity and integrity, fulfilling the requirements of Mexican GAAP, and exercising our oversight responsibilities throughout the company in accordance with the highest principles of business ethics. Our corporate governance principles provide a framework for the operation of our company as we strive to work towards our shareholders' best interests.
FEMSA is subject to Mexican legislation, which is the basis for our corporate governance practices. Reflecting FEMSA's international focus, our shares are listed on the Mexican Bolsa (BMV) and the New York Stock Exchange (NYSE). For this reason, we comply with the corporate governance standards set forth in the Mexican Securities Market Law (Ley del Mercado de Valores) and with the applicable provisions for foreign issuers contained in the Sarbanes-Oxley Act of the United States.
In addition, our corporate governance standards adhere to the principles of the Code of Best Corporate Governance Practices (Código de Mejores Prácitcas Corporativas), sponsored by the Mexican Consejo Coordinador Empresarial.
The Board of Directors is at the head of our corporate governance system and is responsible for determining our corporate strategy; defining and overseeing the implementation of our key values and vision; and the approval of related-party transactions and transactions not in the ordinary course of business.
In addition to management, the Board of Directors is supported by its committees: the Audit Committee, the Finance Committee, and the Corporate Practices Committee. The Board of Directors appoints and supervises the committees, which assist and make recommendations to the Board in their respective areas of responsibility.