IFRS adoption and company conservatism in Colombia and Brazil | Zendy

Marta Cristina Pelucio Grecco | Zendy; Cecília Moraes Santostaso Geron | Zendy; Hugo A. Macías | Zendy

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IFRS adoption and company conservatism in Colombia and Brazil

Author(s) -

Marta Cristina Pelucio Grecco,

Cecília Moraes Santostaso Geron,

Hugo A. Macías

Publication year - 2019

Publication title -

base - revista de administração e contabilidade da unisinos

Language(s) - English

Resource type - Journals

eISSN - 1984-8196

pISSN - 1807-054X

DOI - 10.4013/base.2019.163.02

Subject(s) - conservatism , accounting , business , transparency (behavior) , international financial reporting standards , political science , politics , law

We analysed changes in the levels of conservatism in Colombia and Brazil after International Financial Reporting Standards (IFRS) adoption, in accordance with the theory of cultural influence in accounting (Gray, 1988). We found that IFRS adoption resulted in decreased conservatism of accounting practices in Brazil; however, it resulted in increased conservatism in Colombia. We found uniformity in conservatism among economic sectors in Brazil. In Brazil and Colombia, the industrial, investment, commercial, and financial sectors showed a decrease in conservatism, as expected. The service and public sectors showed an important increase in conservatism in Colombia, however.

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