Annual meeting for accounts review

Assembleia anual para tomada de contas. Direito Societário.

The annual holding of the Ordinary General Meeting (OGM) for the review of management accounts is a legal requirement set forth in Law No. 6,404/1976 (Brazilian Corporation Law), specifically in articles 132 and following. This provision establishes that the OGM must be held within the first four (4) months following the end of the fiscal year, usually by the end of April when the fiscal year coincides with the calendar year. During this period, it is essential that companies organize themselves to comply with this legal deadline, avoiding potential irregularities.

The OGM is essential for shareholders to evaluate the performance of the management, decide on the allocation of the financial results, and, when applicable, elect members of the management and supervisory bodies. Failure to hold the meeting within the established timeframe may result in legal consequences, including the liability of administrators and the possibility of nullifying acts that are not in compliance with the law.

Regarding the publication of financial statements, the Corporation Law requires their disclosure to ensure transparency for shareholders and other interested parties. Generally, this publication takes place in widely circulated newspapers and in the Official Gazette. However, for privately held companies with annual gross revenue of up to R$ 78 million, the legislation allows the statements to be published electronically through the Balance Sheet Center of the Public Digital Bookkeeping System (SPED), without the obligation of publication in printed newspapers.

Proper compliance with all the necessary procedures for holding the OGM demonstrates the company’s commitment to legal compliance and sound corporate governance. CPDMA is available to assist your company in conducting ordinary meetings, preparing and publishing financial statements, and fulfilling other corporate obligations, contributing to legal security and the integrity of business management.

Corporate Law | CPDMA Team

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