TCU consolidates data on task force that monitors state-owned companies at risk to public accounts
The Brazilian TCU is consolidating data on a task force monitoring nine state-owned enterprises identified as fiscal risks to public finances.
The technical area of the Tribunal de Contas da União (TCU) in Brazil is set to consolidate information regarding its task force that is overseeing state-owned enterprises with fiscal risks. This analysis will be completed by June as stipulated by court regulations. The task force was established at the end of last year to scrutinize nine federal state-owned companies that present potential threats to public finances, including entities like Correios and Casa da Moeda.
The creation of this initiative was prompted by a Treasury Department report indicating financial vulnerabilities and potential risks associated with nine out of the 27 state-owned enterprises examined. In addition to Correios and Casa da Moeda, other companies highlighted include various Docas Companies (CDC, CDP, Codeba, CDRJ, and Codern), the Asset Management Company (Emgea), the Brazilian Energy Nuclear Participation Company (ENBPar), and Infraero. This indicates a broader effort to address fiscal responsibility and oversight in Brazil's state-owned sector.
The task force's operations are structured around five thematic axes: management and innovation, financial performance, personnel management, contracting, and information technology. This approach aims to provide comprehensive oversight and ensure that these enterprises operate within the parameters necessary to safeguard public finances and avoid potential fiscal crises. The implications of this initiative extend to the management and accountability of public resources, critical for maintaining financial stability in Brazil.