The Internal Audit was created in 2002 with the objective of strengthening Votorantim’s governance practices and the controls environment. It is an independent and objective activity that seeks to analyze, evaluate, monitor and recommend possible improvements in processes and internal controls, in order to add value and contribute to the management of risks. Each Company investee has an Internal Audit team that reports to the Audit Committee, which is an advisory committee of the Board of Directors composed of independent members.
The teams have several professionals responsible for the works conducted in all the countries in which the Votorantim companies operate. The Internal Audit work plan is defined annually through a process that includes the following steps: analysis of the main processes, data and opinions obtained from interviews with the main executives, results history from previous findings, operations and processes with greater level of exposure to risks and operations and processes defined as strategic.
In addition to carrying out the works established in the annual planning, the Internal Audit, together with the Conduct Committee, evaluates and seeks solutions for reports or complaints received through the Ethics Channel.