Made available in DSpace on 2015-12-03T18:35:19Z (GMT). No. of bitstreams: 1 Paulo_Rogerio_Seraphim.pdf: 1572086 bytes, checksum: 1fc169e7a7a5af66385f9b793a15d55a (MD5) Previous issue date: 2011-11-04 / The Public Accounts Brazilian is headed for the International Convergence of Accounting. This work approaches the study of disclosure of financial information derived from the recognition of common household goods such as bridges, streets, roads, bridges and squares by the public through the explanatory notes. The overall objective was to validate a proposed structure that promotes the note disclosure of accounting information to its users, in support of decision-making process, proper accountability and the necessary support to the instrumentalization of social control. The survey was conducted in two steps: first, the descriptive study by means of literature and documentary and second, the survey questionnaire applied to public accountants of the City of S??o Paulo Metropolitan Region, composed of 39 municipalities. The sample was defined by non-probabilistic method using an intentional sample, since the intention was to collect data from respondents who represented the opinion of the population. We surveyed the opinions of 33 respondents from 22 municipalities. The data were quantitative treatment. The results indicate that the majority of individuals surveyed agree that the proposed structure presented an explanatory note can be validated as an instrument to promote the disclosure of accounting information to its users, in support of decision-making process, the provision of adequate accounts and the necessary support for the manipulation of social control. However, the minority of subjects that make reservations as to the structure of notes to collaborate with comments that serve as factors that point to the need for improving the structure itself of explanatory notes validated. / A Contabilidade P??blica Brasileira est?? a caminho da converg??ncia as Normas Internacionais de Contabilidade. Este trabalho abordou o estudo da evidencia????o das informa????es cont??beis oriundas do reconhecimento dos bens de uso comum como pontes, ruas, estradas, viadutos e pra??as pela Administra????o P??blica atrav??s das notas explicativas. O objetivo geral foi validar uma proposta de estrutura de nota explicativa que promova a evidencia????o das informa????es cont??beis a seus usu??rios, em apoio ao processo de tomada de decis??o, a adequada presta????o de contas e o necess??rio suporte ?? instrumentaliza????o do controle social. A pesquisa foi realizada em duas etapas: primeiro, o estudo descritivo por meio de pesquisa bibliogr??fica e documental e segundo, o levantamento por question??rio aplicado aos contadores p??blicos das Prefeituras da Regi??o Metropolitana de S??o Paulo, composta por 39 Munic??pios. A amostra foi definida pelo m??todo n??o probabil??stico utilizando-se de uma amostragem intencional, uma vez que se pretendeu coletar dados dos respondentes que representassem a opini??o da popula????o. Foram pesquisadas as opini??es de 33 respondentes de 22 Munic??pios. Os dados tiveram tratamento quantitativo. Os resultados obtidos indicaram que a maioria dos sujeitos pesquisados concordam que a proposta de estrutura de nota explicativa apresentada pode ser validada como um instrumento que promove a evidencia????o das informa????es cont??beis a seus usu??rios, em apoio ao processo de tomada de decis??o, a adequada presta????o de contas e o necess??rio suporte para a instrumentaliza????o do controle social. Entretanto, a minoria dos sujeitos que fazem ressalvas quanto ?? estrutura de notas explicativas colaboram com observa????es que servem como fatores que apontam para a necessidade de melhoria da pr??pria estrutura de notas explicativas validada.

Made available in DSpace on 2015-12-03T18:35:35Z (GMT). No. of bitstreams: 1 Vanderlei_Roberto_de_Oliveira.pdf: 741964 bytes, checksum: ea32c53d8e38f0b23b7fc7cd78eb2e20 (MD5) Previous issue date: 2015-08-19 / This study aimed to identify if companies listed on the BM & FBOVESPA were practicing the requirements of CPC 01 (R1) to the disclosure of the item of loss recoverable value of assets (impairment). The procedures adopted for this study were to identify the standard CPC 01 (R1) that items that necessarily should been mentioned in the financial statements and explanatory notes of the companies listed on the BM&FBOVESPA in the first trimesters of 2015. Find out, by means of reading financial statements and explanatory notes of the companies, if these companies have identified the need for recognition of the loss of the recoverable value of assets (impairment test). It having been identified check if companies were taking into account the principles of the standard test-related decrease in recoverable value of assets (impairment test) as well as the disclosures and evidence in the explanatory notes for this recognition. The results showed that companies do not carry out the demands of the CPC 01 (R1) decrease in recoverable value of assets (impairment) in its totality / Este estudo teve como objetivo, identificar se as empresas listadas na BM&FBOVESPA estavam praticando as exig??ncias do CPC 01 (R1) para o item de divulga????o da perda do valor recuper??vel de ativo (impairment). Os procedimentos adotados para este estudo foram: identificar na norma CPC 01 (R1) quais os itens que obrigatoriamente deveriam estar mencionados nas Demonstra????es Financeiras e Notas Explicativas das empresas listadas na BM&FBOVESPA no 1?? quadrimestre de 2015. Averiguar, por meio de leitura das Demonstra????es Financeira e Notas Explicativas, se as empresas, identificaram a necessidade do reconhecimento da perda do valor recuper??vel de ativo (impairment). Caso isto seja identificado, examinar se as empresas estavam atendendo aos princ??pios da norma referente ao teste de redu????o ao valor recuper??vel de ativo (impairment test) bem como, as divulga????es e evidencia????es nas Notas Explicativas referentes a estes reconhecimentos. Os resultados demonstraram que as companhias n??o realizaram as exig??ncias do CPC 01 (R1) Redu????o ao Valor Recuper??vel de Ativos (impairment) na sua totalidade

Made available in DSpace on 2015-12-04T11:45:17Z (GMT). No. of bitstreams: 1 Thais_do_Lago.pdf: 641589 bytes, checksum: 22afdef3bcd427b38d78f38696c41e06 (MD5) Previous issue date: 2006-06-19 / The recording of contingencies by listed companies in Brazil and in the USA, especially the taxable ones, has been troublesome, because there are no clear normative criteria to classify their risk in remote, possible and probable contingencies. It has also been troublesome because of the laborious adequation of financial statements to the accounting norms established by these two countries. Consequently, this has resulted in asymmetrical information. As there is a Brazilian Securities Commission (CVM) established norm, the problem of the asymmetrical information could be overcame concerning registered companies in different capital markets, regarding the obligation of synchronizing the Brazilian statements and financial information with the American ones. Therefore, it is intended with this work to analyze the financial statements content of listed companies in the New York Stock Exchange (NYSE) and in the S??o Paulo Stock Exchange (BOVESPA), relating to the recording of taxable contingencies, aiming to detect the existence of asymmetrical information. To reach such an objective, it has been applied the content analysis method in a financial statements sample of 30 (thirty) listed companies in the NYSE and in the BOVESPA. It was verified that 20 (twenty) companies have presented higher disclosure levels of taxable contingencies in the USA in relation to Brazil, 5 (five) have presented higher disclosure levels of taxable contingencies in Brazil in relation to the USA and 5 (five) have presented the same disclosure levels of taxable contingencies in both countries. These results show that the financial statements adequation process to the accounting norms established by the USA and Brazil and the use of subjective nature terms, such as remote, possible or probable, might expose the investor to incomplete information, which might lead him to take wrong decisions. Such statement has justified the elaboration of suggestions to record the taxable contingencies in the Brazilian law, which could be applied to handle the normative criteria fragility to classify the risk. This work could guide regulators agencies in the capital market, agencies interested in the international accounting convergence, solicitors, financial statements personnel and auditors, as it reveals vital aspects to be considered in the financial statements accounting treatment of taxable contingencies. In addition, this work could provide elements to improve the financial statements transparency and consistency. / The recording of contingencies by listed companies in Brazil and in the USA, especially the taxable ones, has been troublesome, because there are no clear normative criteria to classify their risk in remote, possible and probable contingencies. It has also been troublesome because of the laborious adequation of financial statements to the accounting norms established by these two countries. Consequently, this has resulted in asymmetrical information. As there is a Brazilian Securities Commission (CVM) established norm, the problem of the asymmetrical information could be overcame concerning registered companies in different capital markets, regarding the obligation of synchronizing the Brazilian statements and financial information with the American ones. Therefore, it is intended with this work to analyze the financial statements content of listed companies in the New York Stock Exchange (NYSE) and in the S??o Paulo Stock Exchange (BOVESPA), relating to the recording of taxable contingencies, aiming to detect the existence of asymmetrical information. To reach such an objective, it has been applied the content analysis method in a financial statements sample of 30 (thirty) listed companies in the NYSE and in the BOVESPA. It was verified that 20 (twenty) companies have presented higher disclosure levels of taxable contingencies in the USA in relation to Brazil, 5 (five) have presented higher disclosure levels of taxable contingencies in Brazil in relation to the USA and 5 (five) have presented the same disclosure levels of taxable contingencies in both countries. These results show that the financial statements adequation process to the accounting norms established by the USA and Brazil and the use of subjective nature terms, such as remote, possible or probable, might expose the investor to incomplete information, which might lead him to take wrong decisions. Such statement has justified the elaboration of suggestions to record the taxable contingencies in the Brazilian law, which could be applied to handle the normative criteria fragility to classify the risk. This work could guide regulators agencies in the capital market, agencies interested in the international accounting convergence, solicitors, financial statements personnel and auditors, as it reveals vital aspects to be considered in the financial statements accounting treatment of taxable contingencies. In addition, this work could provide elements to improve the financial statements transparency and consistency. / A contabiliza????o de conting??ncias, notadamente as tribut??rias, por companhias abertas no Brasil e nos Estados Unidos tem sido problem??tica devido ?? aus??ncia de crit??rios normativos claros para a classifica????o do risco das conting??ncias em remotas, poss??veis ou prov??veis. Tamb??m tem sido problem??tica devido ?? laboriosa adequa????o das demonstra????es financeiras ??s normas cont??beis estabelecidas pelos dois pa??ses, o que tem gerado uma assimetria informacional. Ocorre que devido ?? exist??ncia de uma norma da Comiss??o de Valores Mobili??rios poderia estar superado o problema da assimetria informacional no caso de empresas registradas em diferentes mercados de capitais, ante a obriga????o de sincronizar as demonstra????es e informa????es financeiras aqui divulgadas com as divulgadas no exterior. Nesse contexto, esta pesquisa tem por objetivo analisar o conte??do das demonstra????es financeiras das companhias abertas listadas na Bolsa de Valores de Nova York, a "New York Stock Exchange" (NYSE) e na Bolsa de Valores de S??o Paulo (BOVESPA), referente ?? contabiliza????o de conting??ncias tribut??rias, no intuito de constatar a exist??ncia da assimetria informacional. Para alcan??ar a consecu????o desse objetivo, foi utilizado o m??todo de an??lise de conte??do em uma amostra de demonstra????es financeiras de 30 (trinta) companhias listadas na NYSE e na BOVESPA. Verificou-se que 20 (vinte) apresentaram n??veis de evidencia????o de conting??ncias tribut??rias maiores nos Estados Unidos que no Brasil, 5 (cinco) apresentaram n??veis de evidencia????o de conting??ncias tribut??rias maiores no Brasil que nos Estados Unidos e 5 (cinco) apresentaram o mesmo n??vel de evidencia????o de conting??ncias tribut??rias nesses pa??ses. Esses resultados confirmam que o processo de adequa????o das demonstra????es financeiras ??s normas cont??beis estabelecidas pelos dois pa??ses e a utiliza????o de termos de natureza subjetiva, tais como remotas, poss??veis ou prov??veis, podem expor o investidor a informa????es incompletas, que podem eventualmente lev??-lo a decis??es equivocadas. Tal constata????o justificou a elabora????o de sugest??es para a contabiliza????o das conting??ncias tribut??rias no ambiente legal brasileiro que podem ser empregadas para lidar com a fragilidade dos crit??rios normativos para a classifica????o do risco. Esta pesquisa poder?? nortear ??rg??os reguladores do mercado de capitais, ??rg??os interessados na converg??ncia cont??bil internacional, advogados, preparadores das demonstra????es financeiras e auditores, na medida em que descortina aspectos relevantes que dever??o ser considerados no tratamento cont??bil das conting??ncias tribut??rias. Al??m disso, esta pesquisa pode fornecer elementos para a melhoria na transpar??ncia e consist??ncia das demonstra????es financeiras

Made available in DSpace on 2015-12-04T11:45:18Z (GMT). No. of bitstreams: 1 Arlindo_Goncalves_Marrao_Junior.pdf: 754903 bytes, checksum: e209b40ba621c0051e54589ca77b0518 (MD5) Previous issue date: 2003-03-24 / Globalization, economic estabilization and velocity of information are courrently topics of the modern world. Decision making demands fast e qualified information, therefore, for the accounting professions, a constantly evolution in preparing the managerial information and financial statements. Starting for this principle, it is important that these financial statements permit the full comprehension about the patrimonial situation of a company and also allow to stablish comparative parameters with the other companies which operate in the same sector. However, we could not forget that the elaboration of the financial statements follows some standards that many times do not permit a clear meaning for the accounting users, and specially those who are out of the analyzed companies. Therefore, just as professionals who do the accounting need constantly toimprove themselves and work for the evolution of the discipline, external users of accounting should keep in mind these technical limitations and look for alternatives in order to solve problems. This work aims, based on the study of accountancy of the facts which happens in the estate companies, to show that a serie of factors inherent of their proper activity harm the comprehension of their financial statements when they are analyzed under the optics of the traditional balance sheet analysis, demanding an extra effort, passing for some adjustments in their financial statements in order to adapt for the analysis. / Globaliza????o, estabilidade econ??mica e velocidade da informa????o s??o t??picos pertinentes ao mundo moderno. A tomada de decis??es exige cada vez mais informa????es com qualidade e rapidez, impondo portanto, aos profissionais de contabilidade uma evolu????o constante no preparo das informa????es gerenciais e das demonstra????es cont??beis. Partindo desse princ??pio, ?? importante que tais demonstra????es possibilitem o entendimento da situa????o patrimonial da empresa e tamb??m que permitam estabelecer par??metros comparativos com as demais empresas que operam no mesmo setor. Entretanto, n??o se deve esquecer de que a elabora????o de balan??os tamb??m responde a crit??rios que muitas vezes n??o permitem aos usu??rios da contabilidade e, em especial aos que se localizam externamente ??s empresas analisadas, o seu claro entendimento. Assim, da mesma forma que os profissionais que exercem a contabilidade devem constantemente se aperfei??oar e trabalhar para a evolu????o da disciplina como um todo, tamb??m o usu??rio externo da contabilidade deve ter em mente essas limita????es e procurar alternativas aos problemas. No presente trabalho, procura-se, com base no estudo das contabiliza????es de fatos que ocorrem no setor de constru????o civil leve, demonstrar que uma s??rie de fatores inerentes ?? sua atividade prejudica a compreens??o das suas demonstra????es cont??beis quando interpretadas sob a ??tica da an??lise tradicional de balan??os, exigindo de seus usu??rios externos, portanto, um esfor??o maior de entendimento, que passa por algumas adequa????es nas demonstra????es, de forma a adapt??-las para a an??lise.

Submitted by Elba Lopes (elba.lopes@fecap.br) on 2016-06-20T14:33:51Z No. of bitstreams: 2 Alexandre_Dias_da_Costa.pdf: 519418 bytes, checksum: 55224aa7e462e32808a9014ab2e7961e (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) / Made available in DSpace on 2016-06-20T14:33:51Z (GMT). No. of bitstreams: 2 Alexandre_Dias_da_Costa.pdf: 519418 bytes, checksum: 55224aa7e462e32808a9014ab2e7961e (MD5) license_rdf: 23148 bytes, checksum: 9da0b6dfac957114c6a7714714b86306 (MD5) Previous issue date: 2015-12-18 / This study tested if there is a relationship between financial indicators and stock returns in Brazilian market. This study also sought to identify what are the financial indicators that have a greater statistical significance in relation to the return of the stocks in Brazilian market. As objectives, the research methodology of this study is explanatory. For the procedures, it is an experimental research. The study applied the quantitative approach to information, using correlation analysis, multiple linear regression, pooled cross section and data analysis. The population consisted of all companies listed on the BM&FBOVESPA and the sample was selected based on criteria of liquidity and daily trading of shares. The dependent variable is the quarterly stock returns and the independent variables are the selected financial indicators. The period chosen for the study began in January 1, 2010, ending December 31, 2014. The results of the statistical tests employed indicated that there is some relationship between financial indicators and the quarterly return of the stocks. The research identified the average collection period and working capital on net sales as the most significant financial indicators statisticaly at 1% compared to the quarterly return of the shares. / O presente trabalho testou se existe rela????o entre os indicadores cont??beis e o retorno das a????es no mercado brasileiro. Este estudo tamb??m buscou identificar quais s??o os indicadores cont??beis que possuem maior signific??ncia estat??stica em rela????o ao retorno das a????es no mercado brasileiro. Quanto aos objetivos, a metodologia de pesquisa deste trabalho ?? explicativa. Quanto aos procedimentos, ?? uma pesquisa experimental. O estudo aplicou a abordagem quantitativa das informa????es, com a utiliza????o de an??lise de correla????o, regress??o linear m??ltipla, corte transversal agrupado e an??lise de dados em painel. A popula????o foi constitu??da por todas as empresas listadas na BM&FBOVESPA e a amostra foi selecionada com base no crit??rio de liquidez e negocia????o di??ria das a????es. A vari??vel dependente ?? o retorno trimestral das a????es e as vari??veis independentes s??o os indicadores cont??beis selecionados. O per??odo escolhido para o estudo inicia-se em 01 de janeiro de 2010, finalizando em 31 de dezembro de 2014. Os resultados dos testes estat??sticos empregados indicaram que existe rela????o entre alguns indicadores cont??beis e o retorno trimestral das a????es. A pesquisa identificou o per??odo m??dio de cobran??a e o capital circulante l??quido sobre as vendas l??quidas como os indicadores cont??beis mais significantes estatisticamente ao n??vel de 1%, em rela????o ao retorno trimestral das a????es.

Made available in DSpace on 2015-03-05T19:13:45Z (GMT). No. of bitstreams: 0 Previous issue date: 30 / Nenhuma / Analisa-se neste trabalho o disclosure da carga tributária nas Demonstrações Contábeis publicadas em 31/12/2006, por uma amostra de companhias do setor de energia elétrica, listadas nas Maiores e Melhores da revista exame, edição de 2007. Os dados foram coletados no balanço patrimonial, demonstração de resultado do exercício, notas explicativas, demonstração do valor adicionado, demonstração dos fluxos de caixa, demonstração das mutações do patrimônio líquido, demonstração das origens e aplicações de recursos, demonstração do resultado por atividade, demonstrações estas divulgadas na página web da Comissão de Valores Mobiliários (CVM). A metodologia da pesquisa utilizada consistiu em um procedimento de pesquisa documental, com abordagem qualitativa-quantitativa. Apurou-se que no cenário do setor de energia elétrica no Brasil, as informações tributárias são pouco evidenciadas não sendo divulgados, de forma separada ou aberta, os dados relativos aos tributos e encargos do setor. Ao todo foram analisadas as dem / This research aims to analyze the disclosure of the tax burden in the Financial Statements published in Dec 31st 2006 by a sample of companies in the sector of electric energy, listed in the Maiores e Melhores of Exame magazine, 2007 edition. Data were collected in the balance sheet, in the income statement for the year, notes, demonstration of the value added, statement of the cash flows and of changes in equity, demonstration of the origins and application of resources demonstration of the result by activity, which were disclosed on the webpage of the Comissão de Valores Mobiliários (CVM). The research methodology consisted of a procedure of documentary research, with qualitative and quantitative approach. It was found that in the scenario of the sector of electric energy in Brazil the tributary information are little evidenced, being not disclosed, in isolation or open, data concerning the taxes and charges of the sector. Overall the statements of 17 companies in the sector of electric energy in Brazil wer

Made available in DSpace on 2016-04-25T18:39:40Z (GMT). No. of bitstreams: 1 Francisco Carvalho Costa Neto.pdf: 762917 bytes, checksum: 44113e152debcb26d594697c9c12e312 (MD5) Previous issue date: 2011-06-16 / With the evolution of markets, mainly after globalization, investors started to demand more detailed information about the financial reality of organizations. To the extent that the accounting information is introduced in the process of decisions, it starts to have important economic implications to the several agents. This aspect is particularly crucial when one is dealing with an investor who considers investing resources in stock portfolio. The aim of this paper is to identify, through statistical techniques, the possibility of evidence on the existence of Discretionary Accruals concerning the financial statements presented to the Stock Exchange Comission of Brazil (CVM) to those 56 companies listed in São Paulo Stock Market (Bovespa) during the year of 2007. The reference to the Discretionary Accruals were worked on according the techniques developed by Kang and Sivaramakrishnan (1995), aiming at establishing whether such accruals can be found. The levels of Bovespa s Corporate Governance (NM, N1GC e N2GC), in which each company s stock was listed in the Initial Public Offering, were considered, with the goal of investigating if this indicator can have been a decisive factor to the results of Discretionary Accrual. The present study is limited to the public information obtained in CVM website through the program DivEx. The statistical work was developed through the software SPSS. The result of emphirical test shows that possibly Discretionary Accruals could be used by management as positive and negative, and, also, that the accounting treatment is given by different ways for the three levels of Corporate Governance / Com a evolução dos mercados, principalmente a partir da globalização, os investidores passaram a demandar informações mais detalhadas sobre a realidade financeira das organizações. Na medida em que a informação contábil insere-se no processo de decisões, ela passa a ter importantes implicações econômicas para os diversos agentes. Esse aspecto é particularmente crucial quando se está lidando com investidor que cogite investir recursos numa carteira de ações. Este trabalho tem por objetivo identificar, através de técnicas estatísticas, evidências da possibilidade da existência de Acumulação Discricionária com relação às demonstrações contábeis apresentadas à Comissão de Valores Mobiliários (CVM) para aquelas 56 empresas que foram listadas na Bolsa de Valores de São Paulo durante o ano de 2007. A referência às Acumulações Discricionárias foi trabalhada de acordo com as técnicas desenvolvidas por Kang e Sivaramakrishnan (1995), com o objetivo de constatar se tais acumulações podem ser encontradas. Considerou-se os níveis de Governança Corporativa da Bovespa (NM, N1GC e N2GC) em que a ação de cada empresa foi listada quando da abertura de capital, com o objetivo de verificar se este indicador pode ter sido um fator decisivo para a os resultados da Acumulação Discricionária. O estudo é limitado às informações públicas obtidas no site da CVM, através do programa DivEx. Os trabalhos estatísticos foram desenvolvidos através do software SPSS. O resultado dos testes empíricos demonstra que possivelmente, a Acumulação Discricionária pode ter sido utilizada pelos gestores tanto de forma positiva como negativa, e adicionalmente, que o tratamento contábil é dado de forma diferenciada para os três níveis de Governança Corporativa

Made available in DSpace on 2016-04-25T18:39:47Z (GMT). No. of bitstreams: 1 Tatiana Lago Martinez Navarro Baldivieso.pdf: 2340696 bytes, checksum: e507e27f45aa5bd04e05149fd23c8d5f (MD5) Previous issue date: 2012-06-12 / Consolidated financial statements present the financial situation of an economic group, which is made up of a parent company and its subsidiaries and associates, as if they were a single entity. Accounting principles adopted in Brazil as well as international financial reporting standards (IFRS) regarding consolidation establish that the parent company must present consolidated financial statements. The Brazilian National Financial System (SFN) allows foreign groups to have entities whose specific purpose is to complement the activities of their financial institutions. Nonetheless, if the only link among the Brazilian entities is the parent company located abroad, disclosing consolidated financial statements in Brazil is no longer mandatory. This procedure is in compliance with accounting standards, however, a crucial issue arises: users of accounting information have no access to the relationships among the Brazilian entities. Even if the parent company abroad discloses consolidated financial statements, they will certainly not be available in Portuguese. In addition, just as some accounting practices adopted in Brazil limit options included in the IFRS, other countries may also adapt accounting practices to their local markets. The accounting recognition is based on rules rather than on principles which determine the consolidation regardless of any equity interest. This study is an exploratory research aimed to investigate and reveal cases of nonconsolidation of subsidiaries from foreign groups in the SFN together with financial institutions supervised by the Central Bank of Brazil (BACEN) as well as absence of information on the relationship among entities belonging to a single economic group. To that end, we carried out a bibliographic research and sent out questionnaires to heads of accounting from 25 foreign groups in the SFN, so as to collect data for later analysis. We also used data from explanatory notes disclosed by these groups for the year ended 12/31/2010. The results demonstrate that the foreign groups hold subsidiaries in the country whose consolidation is carried out solely by the parent company abroad. We also observed that explanatory notes from related parties do not present sufficient information to determine the relationship among subsidiaries / As demonstrações contábeis consolidadas evidenciam a situação patrimonial de um grupo econômico, formado pela controladora e suas controladas e coligadas, como se essa fosse uma única entidade. As práticas contábeis adotadas no Brasil e as normas internacionais de contabilidade (IFRS), acerca da consolidação, determinam que a controladora deva elaborar as demonstrações contábeis consolidadas. Observa-se no Sistema Financeiro Nacional (SFN) que grupos estrangeiros possuem entidades com a finalidade específica de complementar às atividades de suas instituições financeiras. No entanto, se o único elo entre as entidades brasileiras for a controladora no exterior, não há a obrigatoriedade de divulgação de demonstrações contábeis consolidadas no Brasil. Tal procedimento está em conformidade com as normas contábeis, contudo traz um ponto de atenção, pois o usuário da informação contábil deixa de ter acesso aos relacionamentos entre tais entidades brasileiras. Ainda que a controladora no exterior divulgue demonstrações consolidadas, certamente não estarão acessíveis em língua portuguesa. Assim como algumas práticas contábeis adotadas no Brasil limitam opções contidas nos IFRS, é possível que outros países também façam adaptações das práticas contábeis para os respectivos mercados locais. O reconhecimento contábil está sendo feito com base na forma jurídica e não na essência econômica que determina a consolidação ainda que não haja participação societária. Este estudo é uma pesquisa exploratória, cujo objetivo foi investigar e evidenciar casos de não consolidação de subsidiárias de grupos estrangeiros no SFN em conjunto com as instituições financeiras supervisionadas pelo Banco Central do Brasil (BACEN) e a não apresentação do relacionamento entre as entidades no país de um único grupo econômico. Para tanto, efetuou-se um levantamento bibliográfico e posteriormente foram enviados questionários aos responsáveis pela contabilidade de 25 grupos estrangeiros do SFN, a fim de coletar dados para posterior análise. Utilizaram-se, concomitantemente, dados das notas explicativas divulgadas para o exercício findo em 31/12/2010. Os resultados comprovam que há grupos estrangeiros que possuem subsidiárias no país, cuja consolidação ocorre apenas por meio da controladora no exterior. Observou-se que as notas explicativas sobre partes relacionadas não trazem dados suficientes que permitam a associação entre as subsidiárias

Regulators have long disagreed whether regulation would reduce hedge funds’ financial misreporting. On the one hand, critics have stated that hedge funds are unlikely to misreport because their investors are highly sophisticated financial players who can detect and deter financial misconduct. On the other hand, recent changes in the composition of hedge funds’ investors have led many to question this argument. In this paper, I test whether hedge fund regulation reduces misreporting by using a quasi-natural experiment in which a subset of hedge funds was regulated, deregulated, and then regulated again. Unique features of the setting permit me to study not only whether hedge fund regulation reduces financial misreporting—but, if so, why the regulation reduces misreporting. The results show that regulation reduces misreporting at hedge funds and that the imposition of disclosure requirements, even without other concurrent changes in regulation, can reduce hedge funds’ misreporting. The result seems surprising, because hedge funds’ investors are commonly thought to have access to far more information than is required by disclosure rules. Further inquiries suggest that disclosure requirements led funds to make changes in their internal governance, and that these changes in governance induced funds to report their financial performance more honestly and accurately.

A avaliação dos riscos de que o sistema de controle interno de uma entidade possa falhar na identificação, mensuração, registro e divulgação de eventos econômicos, que deverão ser refletidos nas demonstrações contábeis de uma entidade, constitui-se em significativo desafio para os auditores independentes. As metodologias de trabalho empregadas para tal finalidade, normalmente, utilizam como sustentáculo a lógica clássica, em que os elementos que compõem os fatores de riscos são avaliados de forma binária, qual seja, presume-se de modo algo simplista que tais fatores ou estão presentes, ou não, em um determinado tipo de controle ou fase do processo, existem ou não, são realizados ou não, e assim por diante. O objetivo deste trabalho foi a concepção de um modelo de avaliação de risco dos sistemas de controles internos de uma entidade utilizando a lógica nebulosa (fuzzy logic) para contemplar os elementos incertos e difusos que compõem, de maneira representativa, os fatores desse tipo de risco analisados pelos auditores independentes no âmbito de um processo de auditoria das demonstrações contábeis; buscou-se, com o resultado desta pesquisa, permitir que venham a ser produzidos resultados de alcance mais amplo e com maior aproximação da realidade efetivamente encontrada no dia a dia dos negócios, que talvez raramente indique situações pontuais de “sim” ou “não” tal como exigido pela lógica clássica ou pelo método binário de avaliação e julgamento. A validação conceitual do modelo concebido foi realizada por meio de entrevistas e debates com especialistas, bibliografia relevante e manuais práticos de metodologia de trabalho de auditoria de empresas representativas dessa indústria e a validade operacional foi testada com uma massa de dados de casos práticos de entidades que tiveram seus sistemas de controles internos avaliados por empresas de auditoria independente de renome atuantes no Brasil, processados no software FuzzyTech 5.54. Como conclusão do estudo, ficou patente que o modelo de avaliação de risco com o uso da lógica nebulosa, além de eliminar a restrição binária imposta pela lógica clássica, permite tratar, de forma numérica e sistematizada, conceitos ambíguos e incertos, através da aplicação de uma escala psicométrica, para refletir predicados tais como “bom”, “razoável”, “de grande importância” etc., produzindo, dessa maneira, resultados mais amplos e próximos da realidade. / The assessment of the risks that an entity’s internal control system may fail concerning the identification, measurement, registration and disclosure of economic events, which should be reflected on the entity´s financial statements, is a significant challenge to independent auditors. The methodologies used to achieve those objectives are usually supported by classical logic thinking, in which the components of the risk factors are assessed under the binary form, in other words, under the relatively simplistic assumption that either they are present or not in a certain kind of control or in a certain phase of the process, they either exist or not, they either are carried out or not, and so on. The purpose of this study was to conceive a risk assessment pattern to assess the effectiveness of entity’s internal control system, using the fuzzy logic approach, in order to take into consideration the uncertain and diffuse elements that are actually present, to a representative extent, in the factors of the control risk analyzed by independent auditors in their process of a financial statements audit; The results of this study aim at permitting that broader conclusions may be reached by the auditors, much closer to the realities of the business environment, which may seldom present individual situations where simple “yes” or “no” answers may be given, as required by the classical logic and binary approach for assessment and evaluation The conceptual validation of the conceived model was based in interviews and debateswith experts, relevant bibliography and manuals of audit methodology of audit firms representative of this services industry, and the operational validation was tested from a database of casesof profit oriented entities which had their internal control systems assessed by recognized Brazilian audit firms, processed on the FuzzyTech 5.54 software. This study has concluded that the use of fuzzy logic to support risk assessment models not only eliminates the binary restriction imposed by classic logic, but also allows a numerical and systematic form of treating ambiguous and uncertain concepts, through the application of a psicometric scale, to reflect adjectives such as “good”, “reasonable”, “of great importance” etc, producing, therefore, more ample and closer to reality results.