Our reputation is one of our main assets and, in order to ensure its preservation, we have rules, principles and values that guide the conduct of our employees, third parties, business partners and suppliers. These guidelines reinforce Oi’s ethical commitment in all its relationships, promoting transparency in its activities and and stronger organizational values.
The main goal of our Compliance Program is to understand our business and involved risks and then build the foundation for promoting ethics and preventing inappropriate acts. Its structure combines a series of measures that result in the implementation of prevention, detection and response mechanisms, designed to minimize our risks.
See below how our Compliance Program was established.
Risks and Internal Controls
Risk mitigation through the establishment of effective internal controls are the company’s actions arising from the Corporate Governance process and comply with the guidelines of the Corporate Risk Management Policy approved by the Board of Directors and adhere to the best market practices on the subject.
A preventive approach and continuous monitoring of the effectiveness of controls related to the treatment and disclosure of financial information has provided, every year, the certification of compliance with U.S. Sarbanes-Oxley legislation as well as other applicable requirements, reinforcing our commitment to transparency and proving the reliability of our reports, as well as ensuring business continuity.
The financial risk management is dinamic, requiring the engagement of different areas of the company, and considering Oi Group’s consolidated structure, is fulfilled in three levels: strategic, tactical and operational.
At the strategic level, the Company’s Executive Board has to approve the Policy and it’s revisions with the Board of Directors, as well as the Risk Guideline to be followed. It is the responsability of the Financial Risk Management Committee to supervise the compliance of Oi S.A with the Policy, as well as to decide on the need for reframing. Operational control is performed by the Financial Risk Management Department, being the treasury responsible for executing the main items related to the Policy.
Considering that the Company and the market in which it operates are dynamic in light of corporate, cyclical and market events, the process must be fed back through the reporting structure, handling exceptions and periodic reviews.