The deadline for compliance with the legal obligation of annual approval of accounts is approaching, applicable to all business companies whose fiscal year ended on December 31, 2022, according to article 1078 of the Civil Code and article 132 of the Corporation Law, and this obligation must be complied with by April 30, 2023.
The deliberations referring to the approval of accounts are made and approved, for Corporations, by the Ordinary General Assembly, and for Limited Liability Companies, by means of a Partners' Meeting.
Publication of Accounts
According to the Brazilian Corporation Law (Law no. 6.404/76), publicly and closely held corporations are required to publish the balance sheets in a large circulation newspaper, along with the Annual General Meeting. Closed capital corporations with annual gross revenue of up to R$78,000,000.00 may publish electronically, through the Public Digital Bookkeeping System (SPED), according to article 294 of the Corporate Law and the Corporate Registration Manual.
With regards to Limited Liability Companies, they are exempt from any publication of balance sheets.