Find their independent auditor's report, income statement, balance sheet and notes to the financial statements at http://www.elekeiroz.com.br

Reporting in Emerging Capital Markets 6-245 Instructions: e 2011 audit report and answer the following questions Who are the auditors? How w What standards w What differences do you notice between this opinion and the opinions pre- sented in your home country? 1. Find th vould you evaluate their competence? ere used to prepare the financial statements? Examine the income statement and balance sheet for 2011. Are there any unusual items compared to statements prepared in your home country? Read the notes to the financial statements: How transparent and informative are the notes to the financial statements? 2 3. Do the financial statements as presented on this website appear to provide enough information for trading on international stock exchanges? Compare and contrast the most recent financial statements of the company with the 2007 statements. Include an analysis of the effect of the adoption of IFRS Does Elekeiroz file a GRI report? If no, what broad categories of information wil Elekeiroz have to gather to file a GRI report? If yes, critically analyze the RI report of Elekeiroz and a competitor from another geographic region. (Hint: 4. petitor and files a GRI report). Reporting in Emerging Capital Markets 6-245 Instructions: e 2011 audit report and answer the following questions Who are the auditors? How w What standards w What differences do you notice between this opinion and the opinions pre- sented in your home country? 1. Find th vould you evaluate their competence? ere used to prepare the financial statements? Examine the income statement and balance sheet for 2011. Are there any unusual items compared to statements prepared in your home country? Read the notes to the financial statements: How transparent and informative are the notes to the financial statements? 2 3. Do the financial statements as presented on this website appear to provide enough information for trading on international stock exchanges? Compare and contrast the most recent financial statements of the company with the 2007 statements. Include an analysis of the effect of the adoption of IFRS Does Elekeiroz file a GRI report? If no, what broad categories of information wil Elekeiroz have to gather to file a GRI report? If yes, critically analyze the RI report of Elekeiroz and a competitor from another geographic region. (Hint: 4. petitor and files a GRI report)