Brasil flag Brasil: Entorn econòmic

Comptabilitat al Brasil

Accounting Rules

Tax Year
From 1 January to 31 December.
Accounting Standards
Brazil adopted the IASB's International Accounting Standards on a gradual basis between 2008 and 2010. As a consequence, there are several important changes to the Brazilian accounting practices, the most important of which is that these new accounting practices are required not only in consolidated financial statements but also in the individual financial statements (Law 11638/07). These include the recognition of leasing transactions, depreciation treatment, the recognition of intangible assets, impairment concept etc.
Accounting Regulation Bodies
CFC
Regulation of financial institutions
Accounting Reports
Financial statements must include at least: a balance sheet, profit and loss statement, statement of cash flows and notes to the financial statements.
Publication Requirements
Commercial companies are required to annually publish a balance sheet, a profit and loss account and all the information necessary to understand the financial health of the company. The documents are required within the 60 days preceding the shareholders' Annual General Meeting.
Professional Accountancy Bodies
CFC , Federal Accountancy Council
CPC , Accounting Pronouncements Committee
Certification and Auditing
Independent auditors and international firms are registered with the Instituto Brasileiro de Contadores. Financial statements are controlled by an independent auditor registered with the 'Securities and Exchange Commission' or the 'Instituto Brasileiro de Contadores'. Approximately half of the audits in Brazil are carried out by international audit firms. The present trend is towards an increase in the number of companies audited, even those which are not required to be audited. The guarantee of quality arising from a certification represents a considerable advantage for Brazilian companies.
Accounting News

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Actualitzacions: June 2022

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