The Sarbanes-Oxley Act was introduced by the US legislature after the disclosure to the market of several accounting scandals, having produced significant effects that last until these days on Brazilian companies as well. The subsidiaries of foreign companies registered with SEC and the Brazilian companies with securities traded at US stock exchanges shall comply with such Act.

It consists of determining the market value of a company, object of corporate transactions or market positioning, through specific methodologies such as discounted cash flow, market analysis, among others, justifying the appreciation or devaluation of its assets, liabilities and operations

We understand that the adoption of well-designed and structured processes, plus the maintenance of complete and effective internal controls systems that are constantly evaluated and a risk management policy aligned with the market’s best practices is fundamental to a satisfactory business administration of your Company, as well as for the positioning in the market where you operate.

The growing and continuous process of market globalization created the need of establishing and adopting a world standard of accounting procedures and rules.

In Brazil, this movement gained strength from the enactment of Laws 11,638, of December 28, 2007, and 11,941, of May 27, 2009, that introduced several corporate, accounting and tax changes, and created the Accounting Pronouncements Committee (CPC).