Supervisory Board

It represents an independent monitoring mechanism used for reporting to the shareholders, installed by decision of the General Meeting, whose purpose is to preserve the value of the organization. It is formed by five effective members and their respective alternates, elected by the General Meeting (Bylaws, article 39).

Bearing in mind the important role it plays in overseeing the Bank’s administrative management actions, the Bank’s Fiscal Council has an established work agenda that defines the drivers of its activities. In exercising its duties, the Fiscal Council establishes relations with several organs and agents that may be part of the organization’s corporate governance system.

In accordance with the precepts and best practices of corporate governance, the Fiscal Council does not replace the Audit Committee. While the latter is a controlling body with functions delegated by the Board of Directors, the first one acts as a supervisory instrument that is elected directly by the shareholders and, by law, is not subordinated to the Board of Directors.

Advisory Committees to the Board of Directors Audit Committee Among other functions provided by the legislation, the Audit Committee purpose is to advise the Board of Directors in exercising its audit and supervision functions (Bylaws, article 33, caput and §6 th).

It consists of at least three and a maximum of five effective members, most of whom independent ones, and at least one of the members of the Audit Committee has proven expertise in the areas of corporate accounting and auditing (Bylaws, article 33,caput, §2nd).

The Audit Committee plays an essential role in the governance structure of Banco do Brasil, since it is responsible for advising the Board of Directors on issues related to oversight of the Bank’s management and to the strict fulfillment of the principles and rules of compliance, corporate accountability and governance. It seeks, therefore, to guarantee the reliability and integrity of the information, in order to protect the company and the interested parties.

Updated 04/02/2019 at 06:45 pm