Fiscal Council

Fiscal Council

Body instated every year since 2002, becoming permanent from 2015, and is composed of five effective members and, currently, four substitute members. One effective member and his/her substitute are chosen among the preferred stockholders.

The Fiscal Council inspects all management’s acts, issues opinion on the management’s annual reports and the management bodies’ proposals relating modification of the corporate capital, debentures issue or subscription warranties, investment plans or capital budgets, payment of dividends; it denounces frauds, errors or crimes to the management bodies, analyzes the quarterly financial statements and requests the attendance of the Company’s Independent Auditors at the meetings.