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So Paulo, 30 years – The deadline for the adaptation of public companies new state law expires on Sunday 1, but even public companies with a high degree of corporate governance are still not 100% adequate, according to the FGV study. Created in June 2016 to improve the management and reduce the political influence in these companies, the legislation has brought about important changes, such as the creation of internal audit committees, specific rules for the appointment of directors, board members and chairpersons. A strict program of rules of conduct.
The State Observatory of the School of Economics of So Paulo of the FGV, followed last month the 30 public companies with shares traded in B3, the Stock Exchange from São Paulo. During this period, researchers Marcio Holland, former Secretary of Economic Policy of the Ministry of Finance, and Joelson Sampaio focused on documents available to businesses to badess the five pillars of the rules provided by the new law: general rules, social function , transparency, Board of Directors and Risk Control
The result showed that not everyone is complying with the new requirements. For researchers, one of the biggest difficulties has been verified in the transparency pillar. According to the rules, companies are now required to disclose the annual Corporate Governance and Public Policy Charter – a document that sets out the companies' commitments and goals.
Holland states that many of these letters are superficial and do not specify the objectives of the companies. Some left to create this document at the last moment and will not be available from tomorrow. the case of CelgPar, the energy company run by the state government Gois, which must publish the document before July 15. The same is true for the new law required by law,
It is clear that state-owned enterprises have a government below their potential and that legislation seems to trigger measures to improve their management, says Holland. . . According to him, the problem that despite the delay of two years, many are gone to agree now. The question arises of the quality of corporate governance of these companies until
Researchers say that there are quite serious cases of state companies that do not Have not adequately structured their areas of risk management and internal control. Under the new law, corporations should create a statutory audit committee (Coaud), disclose minutes, number of board members, number of independent directors and ample information about these members.
of So Paulo, the committee and its attributions were created in December, but members will still have to be appointed by the controlling shareholder, said the company in a statement. In other words, the committee was not, in fact, constituted, says Holland. At BanPar, the statutes of the institution have been created and approved by the board of directors, but await the approval of the Central Bank. In many cases, there is a lack of effective adoption of the rules – a measure that will ensure effective enforcement of the law, since it is pointless to create rules and committees if they do not are not applied.
of the society, which is required by the new law. In other words, it is to explain the collective interest that justifies the existence of the company. Many have difficulty justifying this social function, says Joelson Sampaio. According to the study, considering the five pillars, the most appropriate companies are: Petrobrs, Banco do Brasil and Sanepar (a sanitation company), which is the case of BB Seguridade, completes Holland, a company that operates in a highly competitive industry.
of Paran). On the other end, the most troubled companies are Banco de Brasília (BRB), Telebrs and MGI Participaes, Minas Gerais. BRB disputes the result and says that it complies with all the rules. Telebrs and MGI did not answer. The information comes from the newspaper
The State of São Paulo
.
(René Pereira)
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