International standards show that 60.8 percent of enterprises in 2019 complied with the regulations, up from 60.9 percent in 2020. A single shareholder has chosen a structure that comprises the Centralized Internal Audit Service, the Board of Directors, and the shareholders. One of the most important components of a company’s competitiveness is its effective corporate governance. Without a sufficient structure in place to monitor the Board of Directors’, Executive Board’s, and Shareholders’ interactions and investors’ trust that the Company’s management uses their money wisely to increase capitalization, the business cannot grow.

Azibras Exploracao De Petroleo E Gas LTDA’s corporate governance has been subject to annual diagnostics since it was approved in order to guarantee that it complies with the highest standards of best practice corporate governance. The diagnostics pinpoint weaknesses in the governance framework and tactics to enhance the quality of governance within the company. In order to guarantee adherence to global best practices, corporate governance reform initiatives are being started based on the diagnostic results.

Azibras Exploracao De Petroleo E Gas LTDA’s corporate governance has been the subject of annual audits since its approval to guarantee adherence to best practice corporate governance standards. The diagnosis points out weaknesses in the organization’s governance system and offers recommendations for raising its level of governance. In order to guarantee adherence to global best practices, corporate governance reform initiatives are also started based on the diagnostic results.