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IFRS implementation in Brazil: compliance with required disclosure, information materiality and perception of market professionals

Grant number: 13/26864-1
Support Opportunities:Regular Research Grants
Duration: January 01, 2015 - December 31, 2016
Field of knowledge:Applied Social Sciences - Administration - Accounting
Principal Investigator:Edilene Santana Santos
Grantee:Edilene Santana Santos
Host Institution: Escola de Administração de Empresas (EAESP). Fundação Getúlio Vargas (FGV). São Paulo , SP, Brazil
Associated researchers:Laura Calixto ; Patricia Vasconcelos Rocha Mapurunga ; Vera Maria Rodrigues Ponte


In the historical context of the implementation in Brazil of the worldwide convergence process to IFRS, the first financial reports according to the new norms make two in this study approached questions to arise:1.What is the Brazilian firms' compliance degree with the IFRS disclosure requirements? What is the relationship between the verified disclosure degree and the materiality of the required information?2.What is the perception of the professionals involved in the preparation, verification and analysis of the financial reports about the IFRS quality per se and about the quality of its implementation in Brazil?The first question will be analyzed in continuity with a research coordinated by the proponent (SANTOS et al., 2013b), that measured the compliance degree of 359 Brazilian listed firms with the required disclosure of 28 standards, and found low compliance levels (between 16% and 34%). However, despite its comprehensiveness, that research did not examine the fact that, according to IAS 1, the entity needs not provide a specific disclosure required, if the information is not material. This project intends to contribute to overcome this limitation by verifying to what extent the verified low compliance level is related either to the immateriality of the required information or to the non compliance with the IFRS by the firm. The second question will be analyzed by means of a survey among the professionals involved in the preparation, verification and analysis of the accounting information, in order to access their perception on the information quality of the IFRS and on its implementation in Brazil, according to prior research. (AU)

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