The Securities and Exchange Commission of Brazil (CVM) initiated a public consultation on 6 November 2026 regarding the revision of Technical Pronouncement CPC 31. The consultation forms part of the ongoing updates to align national financial reporting norms with international accounting standards issued by the International Accounting Standards Board (IASB).
Scope of the Proposed Accounting Revisions
The proposed revision to Technical Pronouncement CPC 31 brings national guidelines into line with multiple updates issued by the IASB. These include amendments to the fair value option for investments in associates and joint ventures under IAS 28, disclosures about uncertainties in financial statements, and changes to IAS 21 regarding translation to a hyperinflationary presentation currency alongside Appendix C of IFRS 19 for subsidiaries without public accountability.
The revision incorporates updates to illustrative examples across several standards, including IAS 7, IAS 41, IFRS 13, and IFRIC 1. Furthermore, amendments are included for specific CPC Technical Pronouncements and Interpretations stemming from changes introduced by Technical Pronouncement CPC 51, which governs presentation and disclosure in financial statements.
Submission Deadlines and Participation Guidelines
Market participants and interested parties can submit comments and feedback on Public Consultation Notice SNC 04/26 until 7 December 2026.
Submissions may be directed to the Accounting Pronouncements Committee (CPC), the CVM Accounting Standards Superintendence, or the Federal Accounting Council (CFC) via dedicated email channels or postal addresses.
