Company: BBD
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001292814-25-001244
Chunk: 187

Company: BANK BRADESCO
Filing Date: 2025-03-31
Form: 20-F
Item: Item 4
Chunk 187
---
 responsible for independent accounting audit work. A member responsible for the independent accounting audit can only return three years after being replaced.
 For the entities regulated by ANS, the applicable standards in effect since 2016 determine that the professional responsible for signing the auditor’s report should change at least every five fiscal years, requiring a minimum interval of three years from its replacement.
 The members of the Board of Directors elected under Article 141, paragraph 4 of the Brazilian Corporate Law, will have veto rights, provided that in a reasoned manner, to appoint or remove the independent audit firm.
 For additional information on the auditors of the consolidated financial statements included in this annual report, see “Item 16.C. Principal Accountant Fees and Services”.
 
4.B.70.02-23 Auditing requirements
 As we are a financial institution registered with the local stock exchange, we are required to have our financial statements, prepared in accordance with BR GAAP, audited every six months, a requirement which is applicable to institutions authorized to operate by the Central Bank of Brazil. Quarterly financial information filed with the CVM is also subject to review by independent auditors. Additionally, under CMN Resolution No. 4,818/20, we are required to publish annual consolidated financial statements prepared in accordance with IFRS Accounting Standards, accompanied by the independent auditor’s report and the management report on social business and the main administrative facts for the period.
 Resolution No. 4,818/20 consolidates the general criteria for the preparation and disclosure of financial statements and other institutions authorized to operate by the Central Bank of Brazil, with the exception of the managers of consortia and payment institutions. These institutions must draw up and publish annual financial statements relating to the fiscal year, and semiannual financial statements, relating to the six months ended June 30 and December 31, which consist of the: (i) balance sheet; (ii) income statement; (iii) comprehensive statement of income; (iv) statement of cash flows; and (v) statement of changes in shareholders’ equity.
 In addition, in December 2020, the CMN enacted Resolution No. 4,877/20, which contains provisions on the general criteria for the measurement and recognition of social and labor obligations by institutions authorized to operate by the Central Bank of Brazil (except consortium managers and payment institutions). Pursuant to this resolution, the authorized institutions are obliged to recognize as a monthly liability, when drawing up trial balance or balance sheets, the values due on the portions of the