Early October information was released about the guidelines regarding modifying the audit model, developed by Ernst & Young, to monitor the repairing, restoration and reconstruction activities of the areas that were impacted by the Fundão dam collapse, owned by Samarco.
The Renova Foundation informs that Ernst & Young presented the Standard Operational Procedure. The proposal covers a finalizing audit by means of making sure that the completion of the agreed scope is met and by attending the criteria and indicators defined to assess the agreed deliverables. It is still necessary to define the technical responsibility of the executed constructions and the level of guaranteed quality. This warranty, by law, is the responsibility of the party executing the construction, having the audit to make sure that the Foundation and the companies contracted to execute the programs described in the Transaction Term of Conduct Adjustment (TTAC) meet the procedures and quality control.
Ernst & Young is reviewing the operational procedure to clarify its responsibilities and define the scope of the finalizing audit, which shall be presented to the Federal Interfederal Committee for validation.