GOVERNANÇA COOPERATIVA: AS FUNÇÕES DE FISCALIZAÇÃO E CONTROLE EM COOPERATIVAS DE CRÉDITO NO BRASIL COOPERATIVE GOVERNANCE: THE ROLE OF SUPERVISION AND CONTROL IN CREDIT COOPERATIVE IN BRAZIL
The article analyzes supervision and control functions in financial cooperatives as necessary elements to good governance practices in such organizations, suggesting instruments and conditions in a way to enable, with no significant cost impacts and respected the individual characteristics of each financial cooperative, a development in the controlling and monitoring ability of agents involved in this process. Supervision and control have a fundamental role in governance of such institutions, allowing their members and officials to assess the reach of corporate goals and refine strategic goals assuming, in consequence, a relevant role in the continuity of financial cooperatives. The article discloses the result of an institutional survey, conducted by the Central Bank of Brazil, in both the universe of single financial cooperatives and a sample of their members, with the purpose of compiling and understanding their main governance practices. Answers provided by 1199 financial cooperatives and 420 members were compared and analyzed vis-a-vis the functions of supervision and control in financial cooperatives. Based on such analyses, reflections and directions are suggested to improve financial cooperative governance.