INTERNAL CONTROL - MANAGEMENT RESPONSIBILITY

Internal control is a process designed, implemented and maintained by the management of the organization in order to provide reasonable assurance concerning the fulfilment of tasks that refer to the credibility of financial reporting, also to the effectiveness and efficiency of operations according with laws and regulations. Internal control has the fallowing general objectives: achieving at an appropriate level of quality the functions of the organization, established in accordance with its mission in terms of regularity, efficiency, economy and efficiency; protection of public funds, compliance with laws, regulations and management decisions; development and maintenance of systems for collecting, storing, processing, updating and dissemination of data and information, and also development and maintenance of information systems and procedures and periodic reporting. Internal control system consists of policies and procedures designed to provide officers that are responsible for corporate governance and executive leadership, with reasonable assurance that the entity achieves its objectives through the strategies adopted.