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Corporate Governance
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Itaipu employs mechanisms that provide absolute transparency to its financial management. Three years ago, the company adopted electronic auctions to purchase products and services both in Brazil and Paraguay.

The only case of binational auction in the world, the system is entirely online, in Portuguese and Spanish, and operates in three currencies: reals, guaranis and dollars. To ensure equal opportunities for Brazilian and Paraguayan suppliers, the program observes the two countries' business hours and holidays.

Being a company concerned about the protection of children and teenagers, Itaipu requires from its suppliers a statement that they do not employ people under 18 in night-time, dangerous or hazardous work, and people under 16 in any activity.

In regards to corporate governance, the company is fully adapted to the most modern regulation in the world, the Sarbanes-Oxley Law. Additionally, two years ago it started complying with the international accounting regulations established by the US GAAP.

In July 2006, the company implemented ERP SAP, a modern integrated control system that manages its economic-financial information, while the projects carried out by Itaipu now follow the methods established by the PMI (Project Management Institute).

Because Itaipu is a binational company whose legal structure is unique, it submits to highly strict inside and outside controls that can be direct or indirect, individual or cumulative, pursuant to the terms agreed upon by the two countries.

It is internally audited periodically and undergoes an external binational auditing once a year. These practices allow the company's financial management to be modern and efficient.

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