he much-celebrated 100th anniversary year of 2004 has been rather meaningful for the Fiscal Council, that has managed to celebrate along with it some important realizations and aspirations, requested by associates some time ago.

Undoubtedly, the most important has been the strengthening of the Fiscal Council’s own image within PREVI, as a statuary organ; as well as the understanding of its autonomy and the importance of its work and its contribution to proper corporate governance. To corroborate this statement is the very invitation to write this message, which did not happen at the occasion of the previous report.

Another positive aspect was the fact that the Fiscal Council has managed to establish its proposal of a more open communication channel with the Social Body - thus contributing to the greater transparency that shall now prevail on the Pension Funds front - taking part in events, lectures and articles on info publications.

A historical and challenging issue, permanently questioned by associates, the Costa do Sauípe Tourism Complex, has been deeply analyzed, even through a pioneer site inspection, having originated a more complete and consistent document, in an effort that demands huge commitment and zeal, and, at the same time, intends to solve the main problems and aid the Board on their struggle to improve Hotels and Inns operational results.

Though overwhelmed with new assignments established by the Complementary Social Security Secretary, and without relying on the necessary administrative and technical infrastructure for the proper performance of its incumbencies, the Fiscal Council has dedicated special attention to one of its main targets, the perfecting of PREVI’s internal control policies, which reported a noticeable improvement in 2004, through the adoption of stricter procedures and systems and the acknowledgement of the need of an overall cultural change.

The Fiscal Council’s performance has followed the most modern principles that keep in line pension funds matters, which on the past two years have evolved to the attribution of growing obligations and responsibilities. Such alterations on the legislation and regulation norms have lead to a considerable increase on the work load, with frequent extraordinary meetings, as well as the participation of Council Members in several technical, accounting, actuarial and financial updating workshops and seminars.

PREVI’s Fiscal Council has taken on a new role, encompassing the analyses of conformity, costs, risks, profitability, and even of unplanned disputes, with a conscious solely based on the responsibility it bears face the thousands of associates and their families, and certain that it is laboring towards the protection of their legitimate interests and rights.

The building up of PREVI’s assets over these 100 years of existence, as well as its preservation, surely come from the respect for the past, with the due revering of our founders; but, above all, it is the work done today that will make the future happen.