Investor Presentaiton
ration of the information, as well as applying analytical procedures to obtain
evidence that allows us to issue a limited assurance conclusion on the infor-
mation, taken as a whole. A limited assurance engagement also requires the
performance of additional procedures when the independent auditor becomes
aware of matters that lead him to believe that the information disclosed in the
Annual Report taken as a whole might present significant misstatements.
The procedures selected are based on our understanding of the aspects
related to the compilation, materiality, and presentation of the information
included in the 2021 Annual Report, other circumstances of the engage-
ment and our analysis of the activities and processes associated with the
significant information disclosed in the 2021 Annual Report in which signifi-
cant misstatements might exist. The procedures comprised, among others:
(a) planning the work, taking into consideration the materiality and the
volume of quantitative and qualitative information and the operating
and internal control systems that were used to prepare the information
included in the 2021 Annual Report;
(b) understanding the calculation methodology and the procedures adop-
ted for the compilation of indicators through inquiries of the managers
responsible for the preparation of the information;
(c) applying analytical procedures to quantitative information and making
inquiries regarding the qualitative information and its correlation with
the indicators disclosed in the 2021 Annual Report; and
(d) when non-financial data relate to financial indicators, comparing these
indicators with the financial statements and/or accounting records.
The limited assurance engagement also included the analysis of the com-
pliance with the guidelines and criteria of the Global Reporting Initiative
(GRI-Standards) and the provisions established in the basis of preparation
developed by the Company.
We believe that the evidence we have obtained is sufficient and appropriate
to provide a basis for our limited assurance conclusion.
Scope and limitations
The procedures applied in a limited assurance engagement vary in nature
and timing and are less detailed than those applied in a reasonable assu-
rance. Consequently, the level of assurance obtained in a limited assurance
engagement is substantially lower than the level that would be obtained
in a reasonable assurance engagement. If we had performed a reasonable
assurance engagement, we might have identified other matters and possi-
ble misstatements in the information included in the 2021 Annual Report.
Therefore, we do not express an opinion on this information.
Non-financial data are subject to more inherent limitations than financial
data, due to the nature and diversity of the methods used to determine, cal-
culate and estimate these data. Qualitative interpretations of the relevance,
materiality, and accuracy of the data are subject to individual assumptions
and judgments. Furthermore, we did not consider in our engagement the
data reported for prior periods nor future projections and goals.
The preparation and presentation of non-financial information and indi-
cators followed the definitions of the basis of preparation developed by
the Company and the guidelines of the Global Reporting Initiative (GRI-
Standards) and, therefore, the information included in the 2021 Annual
Report does not have the objective of providing assurance with regard to
the compliance with social, economic, environmental or engineering laws
and regulations. However, the aforementioned standards establish the pre-
sentation and disclosure of possible cases of non-compliance with such
regulations when sanctions or significant fines are applied. Our assurance
report should be read and understood in this context, inherent to the crite-
ria selected and previously mentioned in this paragraph.
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