We are continuously working to improve our processes and, in this context, to document the necessary budgetary-financial-accounting-tax records needed to support an audit in all its extension and depth.
Our individual and consolidated financial statements are prepared in accordance with accounting practices adopted in Brazil, which comprise business law provisions stipulated by Law No. 6.404/76 as amended by Law No. 11.638/07 and Law No. 11.941/09, and the accounting pronouncements, interpretations and guidelines issued by the Accounting Pronouncements Committee (local acronym “CPC”), approved by the Brazilian Securities Commission (“CVM”), and by the International Financial Reporting Standards (“IFRS”) issued by the International Accounting Standards Board (“IASB”).
All data relevant to financial statements is evidenced and disclosed and correspond to data used to manage the Company’s operations. The issuance of the financial statements for the fiscal year ended December 31, 2021 was authorized by our Board of Directors on February 22, 2022. Algar Telecom has been audited by Brazil’s leading external auditors for over 10 years and we are currently audited by Deloitte Touche Tohmatsu Auditores Independentes Ltda. Our annual and quarterly financial statements, earnings releases, and our main policies, among other matters, are posted on our Investor Relations (IR) website. We are guided by the principles of:
Transparency
meaning that management must cultivate the desire to report not only economic and financial performance, but also all other factors (even if intangible) that guide our business activity.
Equity
means fair and equal treatment of all partners and other stakeholders.
Accountability
characterized by governance agents accounting for their actions through clear, concise, understandable and timely reports and taking full responsibility for their actions.
