Approval of the Management Accounts and Financial Statements

According to the Brazilian legislation, limited liability companies (sociedades limitadas) and corporations (sociedades por ações) are required to, within the 4 months period following the end of each fiscal year (in general, April 30 of each year), to hold a quotaholders meeting, in the case of limited liability companies, or a General Shareholders’ Meeting, in the case of corporations, to, among other matters:

(i) analyze and approve the management accounts and the financial statements;

(ii) distribution of the result of the exercise; and

(iii) appointment of managers, if applicable.

Please feel free to contact us should you need any assistance in this regard, as well as any additional clarification related thereto.

Click here to read more: http://www.cfalaw.com.br/en/news/approval-of-the-management-accounts-and-financial-statements/

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