Policies, Regiments and Codes

GRI 102-12, 419-1, 307-1, 416-2

We monitor laws and regulations relating to our business to ensure that we comply with them. We have the support of an external consultant, who follows the Brazilian law, pertinent to the sector and giving us information and updates on standards and laws. Our policies and procedures comply with the Anticorruption Law (No. 12.846/2013), the Bidding Law (No. 8.666/1993), the Auction Law (No. 10.520/2002) and the Differentiated Public Procurement Regime Law (No. 12.462/2011), among others.

For an effective, transparent assessment of our internal controls and compliance with regulations, standards and internal and external policies, our Internal Audit department is responsible for defining an annual plan, based on the risks of the business, obtaining board approval of the plan, auditing each process and, in cases of non-compliance, recommending and monitoring action plans. To supplement this, the External Auditors examine the financial statements, our systems and transaction records, standards of information and accounting and tax compliance, to ensure that they are in line with the law and with Brazilian and international accounting standards. Both audit teams are autonomous and independent, and report to the Board of Directors through the Audit and Risk Management Committee.

No significant fines or sanctions were imposed on us in 2018 for non-compliance with laws or regulations in the Company, and no proceedings were initiated for failure to observe the specific regulations applying to the supply and use of products and services.