The Brazil Securities Commission (CVM) has closed an administrative sanctioning proceeding by unanimously acquitting KPMG Auditores Independentes Ltda and its responsible technical auditor, João Alberto Dias Panceri, of alleged audit failures in work performed on COPEL’s financial statements for the year ended 31 December 2015. The case, brought by the Superintendence of Accounting and Auditing Standards, alleged inadequate compliance with specified requirements of NBC TA 315 (items 6a and 13), NBC TA 600 (item 11) and NBC TA 705 (items 06 and 07), in breach of Article 20 of CVM Instruction 308 (since repealed by CVM Resolution 23). The decision followed the vote of reporting Director João Accioly, with Director Marina Copola issuing a voting statement with additional considerations that was also followed by Interim Chair Otto Lobo.
Brazil Securities Commission (CVM) 2025-09-02
Brazil Securities Commission acquits KPMG and audit partner in COPEL 2015 audit enforcement case
The Brazil Securities Commission (CVM) has acquitted KPMG Auditores Independentes Ltda and auditor João Alberto Dias Panceri of alleged audit failures related to COPEL’s 2015 financial statements. The case involved alleged non-compliance with NBC TA standards and CVM Instruction 308. The decision was unanimous, following the vote of reporting Director João Accioly and considerations by Director Marina Copola and Interim Chair Otto Lobo.