The Federal Audit Court (TCU) is conducting an in-person audit of Koreios to examine possible managerial, administrative, financial, operational and organizational irregularities in the company in recent years. The state-owned company is facing the worst crisis in its history, and since the appointment of new president Emmanoel Rondon, it has been trying to negotiate a 20 billion reais loan guaranteed by unions to keep it afloat. The inspection was in response to a request from the Senate Committee on Transparency, Governance, Inspections, Administration, and Consumer Protection.
The full court is scheduled to discuss the issue at its meeting this Wednesday. The audit, conducted by a technical team specializing in the communications sector, is expected to last until the end of this month, according to people familiar with the matter. The Court of Accounts is already monitoring Koreios’ financial situation. The company presented its restructuring plan to court representatives last week.
According to documents obtained by GLOBO, the scope of the inspection includes a range of possible irregularities as expressed by the Senate, ranging from delayed remittances to Postal Saude, employee agreements, payments to suppliers, non-delivery of donations to Rio Grande do Sul state, to the transport of lithium batteries, which may be in violation of National Civil Aviation Authority (Anac) regulations.
TCU will also investigate a debt confession agreement in which Mr. Correios promised to transfer 7.6 billion reais to his company’s employees’ pension fund, Postalis, to cover half of the retirement pension shortfall. Another axis of the audit focuses on financial and accounting issues, including delays in publishing last year’s balance sheet and changes to cash balance information left behind by Jair Bolsonaro’s management.
The audit will also analyze increases in sponsorship costs from 2022 to 2024, costs associated with legal services, and management conflicts of interest.
In relation to the audit, TCU’s technical department defended that the audit was carried out at the company’s site (audit) “in view of the relevance of the proposed purpose” and because other audits carried out or in progress in court do not fully meet the requirements of Parliament. During an in-person inspection, we will examine the situation thoroughly and in detail. This may include inspecting documents, processes, and even the physical environment.
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