Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting
Autor(a) principal: | |
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Data de Publicação: | 2014 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por eng |
Título da fonte: | Revista Contabilidade & Finanças (Online) |
Texto Completo: | https://www.revistas.usp.br/rcf/article/view/85359 |
Resumo: | We evaluate firms' compliance with required International Financial Reporting Standards (IFRS) disclosure in the first mandatory adoption year of IFRS in Brazil (2010), by comprehensively examining 638 disclosure required items from 28 encompassing IFRSs in the Notes to Financial Statements of all (366) Brazilian non-financial corporations listed on the Brazilian stock exchange (BM&FBovespa). We measure disclosure compliance levels by calculating the respective index, both overall and for each standard, and investigate associations between disclosure levels and firm's characteristics as potential explanatory disclosure compliance factors. Our findings show overall low levels of disclosure compliance in the analyzed year: the average level of compliance with IFRS required disclosure was very sensible to the approach employed, varying from 16.04% (strict criterion and dichotomous approach) to 33.72% (tolerant criterion and partial compliance unweighted approach). In line with other countries experience illustrated by the international literature, these results emphasize the importance of increasing institutional support conditions for enhanced enforcement mechanisms, enabling the Brazilian firms to better attain the full economic benefits of IFRS adoption. In all our analyses, company size and "Big 4" auditing were positively associated with the dependent variable, independent of the model employed to determine the compliance disclosure index, making it possible to conclude that these factors produce a significant positive impact on compliance with the IFRS disclosure requirement levels of Brazilian firms. |
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Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting Adoção Obrigatória do IFRS no Brasil (2010): Índice de Conformidade das Empresas com a Divulgação Requerida e Alguns Fatores Explicativos We evaluate firms' compliance with required International Financial Reporting Standards (IFRS) disclosure in the first mandatory adoption year of IFRS in Brazil (2010), by comprehensively examining 638 disclosure required items from 28 encompassing IFRSs in the Notes to Financial Statements of all (366) Brazilian non-financial corporations listed on the Brazilian stock exchange (BM&FBovespa). We measure disclosure compliance levels by calculating the respective index, both overall and for each standard, and investigate associations between disclosure levels and firm's characteristics as potential explanatory disclosure compliance factors. Our findings show overall low levels of disclosure compliance in the analyzed year: the average level of compliance with IFRS required disclosure was very sensible to the approach employed, varying from 16.04% (strict criterion and dichotomous approach) to 33.72% (tolerant criterion and partial compliance unweighted approach). In line with other countries experience illustrated by the international literature, these results emphasize the importance of increasing institutional support conditions for enhanced enforcement mechanisms, enabling the Brazilian firms to better attain the full economic benefits of IFRS adoption. In all our analyses, company size and "Big 4" auditing were positively associated with the dependent variable, independent of the model employed to determine the compliance disclosure index, making it possible to conclude that these factors produce a significant positive impact on compliance with the IFRS disclosure requirement levels of Brazilian firms. Avaliamos o grau de conformidade (compliance) das empresas com a divulgação requerida pelo padrão International Financial Reporting Standards (IFRS)no primeiro ano de sua adoção plena obrigatória no Brasil (2010), a partir do exame,nas Notas Explicativas das 366 empresas não financeiras listadas na bolsa de valores brasileira (BM&FBovespa), do grau de atendimento a 638 itens de divulgação requeridos por 28 normas (IFRS).Mensuramos os níveis de conformidade com a divulgação calculando um índice de conformidade, tanto geral como para cada norma, e investigamos associações entre os níveis de divulgação e características das empresas, como potenciais fatores explicativos do grau de conformidade com a divulgação requerida. Foram encontrados baixos níveis totais de conformidade com a divulgação requerida no ano analisado: o nível médio de atendimento à divulgação requerida pelas IFRS mostrou-se muito sensível à abordagem adotada, variando de 16,04% (critério rigoroso e abordagem dicotômica) a 33,72% (critério tolerante e abordagem do cumprimento parcial não ponderado). Na linha da experiência de outros países ilustrada na literatura, esses resultados enfatizam a importância de melhorar as condições de suporte institucional para reforçar mecanismos de enforcement, possibilitando às empresas brasileiras alcançar plenamente os benefícios econômicos esperados pela adoção do padrão internacional. Em todas as nossas análises, tamanho da empresa e auditoria por uma "Big 4" tiveram associação positiva com a variável dependente em todos os modelos utilizados para determinar o índice de conformidade com a divulgação requerida, possibilitando concluir que esses fatores produzem um impacto positivo significativo no nível de conformidade das empresas brasileiras com a divulgação requerida pelas IFRS. Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária2014-05-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfapplication/pdfhttps://www.revistas.usp.br/rcf/article/view/8535910.1590/S1519-70772014000200006Revista Contabilidade & Finanças; v. 25 n. 65 (2014); 161-176Revista Contabilidade & Finanças; Vol. 25 No. 65 (2014); 161-176Revista Contabilidade & Finanças; Vol. 25 Núm. 65 (2014); 161-1761808-057X1519-7077reponame:Revista Contabilidade & Finanças (Online)instname:Universidade de São Paulo (USP)instacron:USPporenghttps://www.revistas.usp.br/rcf/article/view/85359/88187https://www.revistas.usp.br/rcf/article/view/85359/88188Copyright (c) 2018 Revista Contabilidade & Finançasinfo:eu-repo/semantics/openAccessSantos, Edilene Santana Ponte, Vera Maria Rodrigues Mapurunga, Patrícia Vasconcelos Rocha 2014-10-08T19:34:04Zoai:revistas.usp.br:article/85359Revistahttp://www.revistas.usp.br/rcf/indexPUBhttps://old.scielo.br/oai/scielo-oai.phprecont@usp.br||recont@usp.br1808-057X1519-7077opendoar:2014-10-08T19:34:04Revista Contabilidade & Finanças (Online) - Universidade de São Paulo (USP)false |
dc.title.none.fl_str_mv |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting Adoção Obrigatória do IFRS no Brasil (2010): Índice de Conformidade das Empresas com a Divulgação Requerida e Alguns Fatores Explicativos |
title |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
spellingShingle |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting Santos, Edilene Santana |
title_short |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
title_full |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
title_fullStr |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
title_full_unstemmed |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
title_sort |
Mandatory IFRS Adoption in Brazil (2010): Index of Compliance with Disclosure Requirements and some Explanatory Factors of Firms Reporting |
author |
Santos, Edilene Santana |
author_facet |
Santos, Edilene Santana Ponte, Vera Maria Rodrigues Mapurunga, Patrícia Vasconcelos Rocha |
author_role |
author |
author2 |
Ponte, Vera Maria Rodrigues Mapurunga, Patrícia Vasconcelos Rocha |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Santos, Edilene Santana Ponte, Vera Maria Rodrigues Mapurunga, Patrícia Vasconcelos Rocha |
description |
We evaluate firms' compliance with required International Financial Reporting Standards (IFRS) disclosure in the first mandatory adoption year of IFRS in Brazil (2010), by comprehensively examining 638 disclosure required items from 28 encompassing IFRSs in the Notes to Financial Statements of all (366) Brazilian non-financial corporations listed on the Brazilian stock exchange (BM&FBovespa). We measure disclosure compliance levels by calculating the respective index, both overall and for each standard, and investigate associations between disclosure levels and firm's characteristics as potential explanatory disclosure compliance factors. Our findings show overall low levels of disclosure compliance in the analyzed year: the average level of compliance with IFRS required disclosure was very sensible to the approach employed, varying from 16.04% (strict criterion and dichotomous approach) to 33.72% (tolerant criterion and partial compliance unweighted approach). In line with other countries experience illustrated by the international literature, these results emphasize the importance of increasing institutional support conditions for enhanced enforcement mechanisms, enabling the Brazilian firms to better attain the full economic benefits of IFRS adoption. In all our analyses, company size and "Big 4" auditing were positively associated with the dependent variable, independent of the model employed to determine the compliance disclosure index, making it possible to conclude that these factors produce a significant positive impact on compliance with the IFRS disclosure requirement levels of Brazilian firms. |
publishDate |
2014 |
dc.date.none.fl_str_mv |
2014-05-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
https://www.revistas.usp.br/rcf/article/view/85359 10.1590/S1519-70772014000200006 |
url |
https://www.revistas.usp.br/rcf/article/view/85359 |
identifier_str_mv |
10.1590/S1519-70772014000200006 |
dc.language.iso.fl_str_mv |
por eng |
language |
por eng |
dc.relation.none.fl_str_mv |
https://www.revistas.usp.br/rcf/article/view/85359/88187 https://www.revistas.usp.br/rcf/article/view/85359/88188 |
dc.rights.driver.fl_str_mv |
Copyright (c) 2018 Revista Contabilidade & Finanças info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
Copyright (c) 2018 Revista Contabilidade & Finanças |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf application/pdf |
dc.publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária |
publisher.none.fl_str_mv |
Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária |
dc.source.none.fl_str_mv |
Revista Contabilidade & Finanças; v. 25 n. 65 (2014); 161-176 Revista Contabilidade & Finanças; Vol. 25 No. 65 (2014); 161-176 Revista Contabilidade & Finanças; Vol. 25 Núm. 65 (2014); 161-176 1808-057X 1519-7077 reponame:Revista Contabilidade & Finanças (Online) instname:Universidade de São Paulo (USP) instacron:USP |
instname_str |
Universidade de São Paulo (USP) |
instacron_str |
USP |
institution |
USP |
reponame_str |
Revista Contabilidade & Finanças (Online) |
collection |
Revista Contabilidade & Finanças (Online) |
repository.name.fl_str_mv |
Revista Contabilidade & Finanças (Online) - Universidade de São Paulo (USP) |
repository.mail.fl_str_mv |
recont@usp.br||recont@usp.br |
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1787713776790798336 |