CHANGES IN THE DISCLOSURE OF ENVIRONMENTAL PROVISIONS AND CONTINGENT LIABILITIES AT [B]3 AND NYSE AFTER THE ADOPTION OF INTERNATIONAL ACCOUNTING STANDARDS IN BRAZIL

Abstract

This study aimed at identifying the level of disclosure of provisions and contingent liabilities from environmental nature of Brazilian companies listed on both Brasil, Bolsa, Balcão Exchange ([B]3) and New York Stock Exchange (NYSE). Data is segregated as pre-IFRS period (2004 – 2006); transition period (2008 – 2010); and post-IFRS period (2012 – 2014), according to how IFRS was implemented in Brazil. We collected 22 companies and calculated the disclosure index of the Notes of the financial statements (required by ([B]3) and the 20-F Forms (required by NYSE). The indexes from both Notes and 20-F Forms were used to compare the information disclosed at markets in Brazil and United States of America. Results show that the IFRS implementation favored the reduction of discrepancies among Notes and 20-F Forms. Additionally, significant differences among pre-IFRS, transition, and post-IFRS periods show a growing in the disclosure level during this time.