Accountability Not mentioned Firm has a Firm considers Not clearly by the and social impacts of its mentioned Code; standing in the decision on clearly by society; internal and the Code; external stakeholders, environment and society; Leadership Not mentioned Not mentioned Board exercise Sustainable clearly by the clearly by the leadership, success; Code; Code; sound judgement in directing firm; Employee Not mentioned Not mentioned Code of ethics Not clearly by the clearly by the give a mentioned Code; Code; guide to clearly by expected the Code; behaviour standards of all employee; 3rd parties Inform owners May be an May be an Not and conflicts of related party entity joint entity mentioned of interests transactions that control with significantly clearly by affect current or the firm; influence the the Code; future financial firm; position; Code of ethics Receive total Specified and Highest Not (conduct) commitment customized to standards of mentioned from Board and apply in behaviour; clearly by CEO; different the Code; sectors; and not-for profit Private sector Public sector Not subsidiaries sector includes includes includes SOEs, mentioned SMEs, public clearly by authorities; the Code; organizations, business, community informal based sector; organizations; Note The underlined part is describing some more works needed to be done for relevant subjects and parties. Exhibit 2 Corporate Governance system – (source: Brazil Code of Best Practice of CG)
Accountability Not mentioned clearly by the Code; Firm has a and social standing in the society; Firm considers impacts of its decision on internal and external stakeholders, environment and society; Not mentioned clearly by the Code; Leadership Not mentioned clearly by the Code; Not mentioned clearly by the Code; Board exercise leadership, sound judgement in directing firm; Sustainable success; Employee Not mentioned clearly by the Code; Not mentioned clearly by the Code; Code of ethics give a guide to expected behaviour standards of all employee; Not mentioned clearly by the Code; 3rd parties and conflicts of interests Inform owners of related party transactions that affect current or future financial position; May be an entity joint control with the firm; May be an entity significantly influence the firm; Not mentioned clearly by the Code; Code of ethics (conduct) Receive total commitment from Board and CEO; Specified and customized to apply in different sectors; Highest standards of behaviour; Not mentioned clearly by the Code; and subsidiaries not-for profit sector includes organizations, community based organizations; Private sector includes SMEs, business, informal sector; Public sector includes SOEs, public authorities; Not mentioned clearly by the Code; Note The underlined part is describing some more works needed to be done for relevant subjects and parties. Exhibit 2 – Corporate Governance system (source: Brazil Code of Best Practice of CG)