The Brazil Securities Commission (CVM) has launched a consultation on proposed accounting changes for listed companies that would restore the equivalence of Brazilian standards CPC 18 and CPC 36 with the current versions of IAS 28 and IFRS 10. The proposal would make Technical Pronouncements Review Document No. 30, issued by the Accounting Pronouncements Committee, mandatory for listed companies. The document would reverse previously approved amendments to CPC 18 on investments in associates and joint ventures and CPC 36 on consolidated financial statements. CVM did not conduct a regulatory impact assessment because the proposal falls within an exemption for measures aligned with convergence to international accounting standards.
Brazil Securities Commission launches consultation on accounting changes to restore alignment with IAS 28 and IFRS 10
The Brazil Securities Commission is consulting on accounting changes that would restore the alignment of CPC 18 and CPC 36 with IAS 28 and IFRS 10. The proposal would require listed companies to apply Technical Pronouncements Review Document No. 30, reversing previously approved amendments.