Financial restatement trends in Brazil from 1997-2012

Autores

  • Vagner Antönio Marques Pontifícia Universidade de Minas Gerais
  • Débora Barcelos Buenos Aires Pontifícia Universidade de Minas Gerais
  • Nathalia Patrício Paulino Cerqueira Pontifícia Universidade de Minas Gerais
  • Lilian Karolina Correia da Silva Pontifícia Universidade de Minas Gerais
  • Hudson Fernandes Amaral Universidade Federal de Minas Gerais

DOI:

https://doi.org/10.51341/1984-3925_2016v19n3a6

Palavras-chave:

Financial restatement, Audit, Big 4, Regulation.

Resumo

This study  analyzes the characteristics of the financial restatements issued by Brazilian companies listed on the BM&FBovespa stock exchange from 1997 through 2012. The study,  descriptive in nature, employed a mixed, qualitative and quantitative approach in which data from 5608 financial statements and audit reports were analyzed using content analysis and descriptive statistics. The results evidenced that on average 25% of financial statements are republished. Only 17% of these restatements, however, are of the mandatory type and only 8.40% involve quantitative changes to the original financial statements. An increasing tendency to issue restatements was identified, accompanying the increase in the number of listed companies. However, 77.13% of the total restatements issued during the period involved qualitative data changes. This study contributes to the literature on the topic, revealing the movement undergone with respect to financial restatements during a period in which relevant changes were experienced in the regulatory environment, in particular the promulgation of the Sarbanes-Oxley Act (SOX) and the adoption of International Standards (IFRS).

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Biografia do Autor

Vagner Antönio Marques, Pontifícia Universidade de Minas Gerais

Doutor em Administração pela Universidade Federal de Minas Gerais Professor do Departamento de Ciências Contábeis da PUC Minas

Débora Barcelos Buenos Aires, Pontifícia Universidade de Minas Gerais

Bacharel em Ciências Contábeis pela PUC Minas Auditora na PriceWaterhouseCoopers

Nathalia Patrício Paulino Cerqueira, Pontifícia Universidade de Minas Gerais

Bacharel em Ciências Contábeis pela PUC Minas

Lilian Karolina Correia da Silva, Pontifícia Universidade de Minas Gerais

Graduanda em Ciências Contábeis pela PUC Minas Auditora na KPMG Auditores

Hudson Fernandes Amaral, Universidade Federal de Minas Gerais

Doutor em Administração pela Université Pierre Mendes Paris (França) Professor Titular do CEPEAD/UFMG

Publicado

2016-12-06

Como Citar

Marques, V. A., Buenos Aires, D. B., Cerqueira, N. P. P., Silva, L. K. C. da, & Amaral, H. F. (2016). Financial restatement trends in Brazil from 1997-2012. Journal of Accounting, Management and Governance, 19(3). https://doi.org/10.51341/1984-3925_2016v19n3a6

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