Circular Letter No. 003346

Discloses the procedures required for updating and conforming the data recorded in the Central Bank's Information System on Entities of Interest (Unicad), as addressed in Circular 3.165 of 2002.

In accordance with the provisions of art. 1, § 3, of Circular No. 3,165, dated December 4 2002, consortium administrators and credit cooperatives must, by November 28 2008, carry out the procedures necessary for registering the conformity of data related to the hiring of external audit services recorded in the Central Bank's Information System on Entities of Interest (Unicad), in accordance with the instructions contained in the annex to this Circular Letter.

2. The audit of accounting statements in credit cooperatives may be performed by an independent auditor or by a cooperative audit entity in accordance with the provisions of Resolution 3.442, dated February 28 2007.

3. The conformity request process does not relieve the entity from promptly updating its records in Unicad.

4. Failure to observe the deadline established in this Circular Letter and/or the detection of inaccurate or omitted information subjects the infringing entity to the penalties provided for in the current legislation.

Brasília, October 21 2008

Department of Monitoring of the Financial System and Information Management – Desig

Gilneu Francisco Astolfi Vivan
Deputy Chief

Annex

Instructions for registering the conformity of data related to the hiring of external audit in the Central Bank's Information System on Entities of Interest (Unicad).

1. Introduction

Conformity consists of the steps of verification, updating, correction of data and inclusion of the occurrence of compliance request handling. The correction of fields blocked for modification must be reported via electronic mail (transaction PMSG750 of Sisbacen) or correspondence signed by a statutory/contractual director of the entity, addressed to the Department of Monitoring of the Financial System and Information Management (Desig).

2. Consultation of external audit data in Unicad

For registering the closure of the audit or checking for possible errors to be communicated as described in the preceding paragraph, access the audit data by consulting the module “Links – Query/Alteration”. On the initial screen, in “Link Type”, select “Independent Auditor”, “Audit by Central Cooperative” or “Audit by Cooperative Audit Entity” (the latter two for credit cooperatives).

3. Inclusion of independent auditor data

The hiring of external audit must be reported in the module “Links – Inclusion – Independent Auditor” or in the module “Links – Inclusion – Audit by Cooperative Audit Entity”, first checking whether the auditor is already registered in the “Basic Data” module. If the external auditor has not yet been included in Unicad, the institution must perform the inclusion before creating the link.

4. Registration of compliance request handling

To complete the conformity registration, access the module “Occurrences – Inclusion – Control – Conformity – Compliance Request Handling”, select “Various” in the “Conformity Type” field, enter the registration date in the “Conformity Date” field and the date of this Circular Letter in the “Conformity Base Date” field.

The “Observation” field must be filled as follows:

a) with the expression “Conformity without reservation” if there is no pending issue; or

b) with the expression “Conformity with reservation”, followed by the email number or the letter date, if a pending issue is communicated during the validity period of this compliance request, via message or correspondence addressed to the Central Bank.

After filling the “Observation” field, press the “Save” button and confirm the transaction.

5. Additional clarifications

Additional clarifications on the use of the Unicad system can be obtained on the Central Bank of Brazil’s website at http://www.bcb.gov.br/?UNICADAMIGO or from the representation of the Department of Monitoring of the Financial System and Information Management (Desig), in Rio de Janeiro (RJ), at Avenida Presidente Vargas, 730 – Centro, ZIP 20071‑900, phones (21) 2189‑5681, 2189‑5682, 2189‑5026, 2189‑5292 and 2189‑5640.