The PREVI Audit Preliminary Report, in final stretch of preparation by the Technical Area of the Federal Court of Audit (TCU), points out that the purchase of shareholding in vibra (former BR Distribuidora) may have contradicted the fund’s policy to reduce its variable income exposure.
The audit also identified changes in the selection criteria for advisors to the companies in which Previ has participation, which raised questions about the.
The first findings of the audit should be presented on Friday (14) to Minister Walton Alencar, rapporteur of the process in TCU, who cited “very serious concerns” with the negative result of $ 14 billion in Plan 1-the largest of the Banco Brazil employees’ complementary pension foundation-between January and November last year.
The investigation is being conducted in phases, and the first stage analyzed the origin of this deficit.
According to the report, the justification given to the auditors was the fall of the actions of the mining company Vale, in which the.
However, although PREVI was already following a policy of reducing variable income investments, auditors identified that there was a significant purchase of Viber actions.
Information released by Vibra itself indicates that Previ today has 5.24% shareholding in the company. In the first quarter of 2024, this slice was 3.3%.
Another point addressed in the report is the way PREVI representatives are chosen in the advice of companies where the fund has participation.
The auditors identified that there was a change in selection criteria, which traditionally evaluated the academic background and the professional experience of candidates.
With this change, people who would not meet the requirements before have occupied strategic seats.
This would be the case of the unionist, president of Previ, who has a degree in history and, according to the auditors’ assessment, would not have sufficient score in previous criteria to occupy seats in the councils without a flexibility of the rules.
and the preliminary report will serve as the basis for future analysis of Previ governance and investments.
Previ is the largest pension fund in the country and generates a total of R $ 270 billion in investments, according to August data from the Brazilian Association of Closed Complementary Social Security entities (ABRAPP).
In total, there are 84,000 participants’ employees and 109,000 beneficiaries.
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