The approval of the financial statements for the fiscal year ended on December 31, 2024, is a legal obligation for all Brazilian companies. Pursuant to the applicable legislation, it must be formalized by means of corporate resolutions until April 30, 2025.
Compliance with this obligation is of utmost importance. Only through this process can statutory officers and directors be released from their liability for actions taken during the fiscal year ended on December 31, 2024, except in cases of error, willful misconduct, simulation, or fraud.
In addition, the failure to approve the financial statements may prevent participation in public bidding processes and the execution of loans or financing agreements with financial institutions.
Depending on the company’s financial results for that fiscal year and its corporate structure (e.g., limited liability company or corporation), there may be a need to publish certain documents (notice of meeting, financial statements, etc.) prior to the date of the respective corporate resolutions.
b/luz is at your full disposal to assist you with all the procedures related to the approval of the financial statements! Please feel free to send an email to societario@baptistaluz.com.br!
