The Coca-Cola Foundation provided grants, reaching over 230 organizations in more than 200 countries and territories. We also reviewed the existence of an integral process that provides a reasonable assurance of fairness in the information content. We verified that the financial expert of the Committee meets the technical background and experience requirements to be considered as such, and that each Committee Member meets the independence requirements set forth in by the applicable laws and regulations. The Coca-Cola Company commitment is to give back 1 percent of our annual operating income. Employee engagement Our success depends on motivated and committed employees.
We reviewed the Audit Committee Charter and made the amendments that we deemed appropriate, submitting such changes for its approval by the Board of Directors. Our activities were duly documented in the minutes prepared for each meeting. We also offer supplier diversity training to help ensure that associates understand how to leverage the procurement power of the company by creating a pool of suppliers that include minority- and women-owned businesses. For this purpose, we verified their independence and their compliance with the requirements established by applicable laws and regulations. .
In 1984, The Coca-Cola Foundation was formally launched as the global philanthropic arm of The Coca-Cola Company, and today continues its dedication in communities around the world. This process included presentations to the Audit Committee by the area responsible of the most important subsidiaries. We reviewed and approved the changes to the accounting standards used by the Company that became effective in 2016, recommending their approval to the Board of Directors. Here is the number of Coca Cola employees since 2001. The Coca-Cola Leaders of Promise Scholarship Program provides new Phi Theta Kappa members with financial resources to help defray educational expenses while enrolled in associate degree programs. In 2016, The Coca-Cola Foundation provided initial seed funding to establish The Coca-Cola Employee Disaster Relief Fund. We are thrilled to announce our 28th class of Coca-Cola Scholars! We were in permanent and direct communication with them to be timely informed of their progress and their observations, and also to consider any comments that resulted from their review of the quarterly financial statements.
Have all of your materials ready to upload in electronic format before applying. We analyzed their approach, work program as well as their coordination with Internal Audit. Key areas that we focus on as part of the Great Place to Work programme include giving employees discounted gym memberships as well as on-site exercise classes, free Coca-Cola drinks and fruit, a staff restaurant offering healthy food options, summer hours and flexible working, a learning allowance and a Cycle to Work scheme. We do that through our own donations and by providing financial support to The Coca-Cola Foundation which, in turn, extends charitable grants guided by its three core priorities: women, water and community well-being. We supervised the efficiency of the procedures established for their identification and follow-up, as well as their adequate disclosure and recording.
Ongoing diversity training helps drive employee engagement, create a work environment that visibly values and leverages diversity and accelerates productivity. Coca-Cola Matching Gifts Program and Employee Disaster Through the Coca-Cola Matching Gifts Program, eligible employees make personal contributions to qualified organizations and The Coca-Cola Foundation matches those contributions on a 2-for-1 basis. It spends a lot on human resource training and management. The Company also encourages associates to pursue higher education programs, with levels of reimbursement available for degree-seeking undergraduate and graduate studies at accredited colleges and universities. We verified the actions taken by the Company in order to comply with section 404 of Sarbanes-Oxley Act regarding the self-assessment of internal controls. Like all major brands Coca Cola too invests a lot in human resource management. Open and inclusive We're committed to providing an inclusive working environment in which everyone is treated fairly.
This fund will help employees impacted by natural disasters. Want to learn more about Scholars Weekend? That's why respecting and valuing the diversity of our people is central to our vision and values. Candidates who meet the previously noted qualifications are eligible to apply. Independent judges evaluate the applications based on scholastic achievement, community service and leadership potential. We held executive meetings and when applicable reviewed with management our resolutions. Coletivo in Brazil Coletivo was first designed in 2009 to equip young people throughout Brazil with the technical and life skills required to access employment. The remaining amount is supported by donations to the Phi Theta Kappa Foundation and provides Leaders of Promise Global Scholarships, earmarked for international students.
The Coletivo platform has also evolved to include other models across the Coca-Cola value chain that address various social problems. We were timely informed of their conclusions and reports, regarding the annual financial statements and followed up on the actions implemented resulting from the findings and recommendations provided during the year. Our three pillars of diversity education are Diversity Training, a Diversity Speaker Series and our Diversity Library. All applicants should clearly state his or her home country to be considered for internship. Among all program graduates, 30 percent find a job within six months of the program, resulting in an average 50 percent increase in household income. Contribute to meetings through sharing ideas and opportunities. We confirmed the existence and validated the implementation of an Annual Training program.
We believe that having people from different backgrounds, with different life experiences and talents is a real bonus for our business. With an enduring commitment to building sustainable communities, the Company is focused on initiatives that reduce its environmental footprint, support active, healthy living, create a safe, inclusive work environment for associates, and enhance the economic development of the communities where it operates. The system, which includes mid-year and year-end career discussions between associates and their managers, gives everyone the opportunity to assess their annual performance against set goals and objectives. As part of this process, we analyzed the comments of the external auditors and confirm the criteria, accounting policies and information used by Management to prepare financial information were adequate, sufficient, and consistently applied with the prior year. Additionally, we followed the comments and remarks made in this regard by External Auditors as a result of their findings.
Our reviews also included reports and any other financial information required by Mexican and United States regulatory authorities. Today, Coletivo Retail operates across 126 communities in Brazil, reaching 60,000 youth. We consider a number of different elements, such as pension, healthcare and additional holiday, which form a total compensation and benefits package for our employees. We made periodic reviews of the various tax, legal and labor contingencies of the Company. We have continuously invested over the years with the aim of strengthening this important area of business performance, placing emphasis on employee development plans, internal talent management, leadership development for managers and employee performance management. We're committed to empowering women and strengthening communities.