9.1 Sabesp (state-owned water management company) 9.1.1 The company complies with corporate governance principles and emphasises the following key aspects: . Transparency - provides shareholders with all relevant information other than legal and regulatory requirements; . Accounting - partners, managers, board members and auditors must account for and assume full responsibility for their acts and omissions; . Equity - equal treatment of all partners and stakeholders; . Corporate responsibility - governance agents must ensure the sustainability of the economic, social and environmental of the organisation. 9.1.2 There is a strong emphasis on corporate governance principles and the rule of law in all the SOEs in Brazil. 9.1.3 The management and employees of public entities are very committed to the vision of the country and serving the people of Brazil. 9.1.4 Comparatively, the private sector offers better salaries than the public entities, but the public entities are characterised by a low turnover of staff and a long and loyal cadreship. The salary of the President of Brazil is used as a ceiling for all salary structures in the public service and SOEs.