Internal Audit

Norte Energia works on the corporate risk management model, based on COSO ERM (global standard) and ISO 31000. As a result, in 2017, the Company consolidated the Risk Matrix, begun in 2013, to identify, evaluate and audit operational processes with greater risk and impact on results.

The Company also has an Ethics Commission and a Complaints Channel, with their respective regulations.

External Audits

The Company's financial statements are presented in accordance with accounting practices adopted in Brazil, issued by the Accounting Pronouncements Committee (CPC) and validated by the Federal Accounting Council (CFC), as well as in accordance with International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB). 

The results are regularly reviewed by external auditors. The Financial Statements for the year 2017, for example, were audited by PriceWaterhouseCoopers for the third consecutive year. Previously the work was done by Ernst & Young. 

Norte Energia always chooses renowned and specialized companies in the segment, which reinforces its commitment to the transparency and credibility of its accounting and tax processes.

In the socioeconomic field, the activities are audited by JGP Consultorias e Participações, contracted by the financing banks to follow the implementation and operation of the Belo Monte Hydroelectric Plant. There are also audits in other technical fields, such as Independent Engineering missions that evaluate civil interventions in the structures of the enterprise and in the interventions carried out in the municipalities around the Plant.