The Securities and Exchange Commission of Brazil has opened a public consultation to update accounting standards for publicly held companies, aiming to align domestic requirements with international financial reporting frameworks.
Alignment with International Accounting Standards
On 5 October 2026, the Securities and Exchange Commission of Brazil (CVM) initiated a public consultation to update accounting standards for publicly traded companies. The proposed updates are designed to maintain consistency with international standards issued by the International Accounting Standards Board (IASB).
Under the proposed framework, publicly held companies will be required to adopt Technical Pronouncement Revision Document No. 30, issued by the Accounting Pronouncements Committee (CPC). This document introduces specific amendments to CPC 18 (R3), which governs investments in associates and joint ventures, and CPC 36 (R3), which regulates consolidated financial statements.
Restoring Equivalence to IAS 28 and IFRS 10
Revision Document No. 30 intends to reverse previously approved amendments, thereby re-establishing direct equivalence between CPC 18 and CPC 36 and their corresponding active international standards, IAS 28 and IFRS 10.
A Regulatory Impact Analysis (AIR) was not performed for this regulatory change. Under Article 4, VI of Decree 10.411, initiatives specifically aimed at converging domestic rules with international accounting standards are exempt from the requirement to conduct an AIR.
Submission Details and Timeline
Market participants and the public may submit feedback and suggestions on the proposed updates until 3 November 2026.
Submissions can be directed to the CPC via email, to CVM's Superintendence of Accounting Standards by email or postal address in Rio de Janeiro, or to the Federal Accounting Council (CFC) via email or postal mail in Brasilia. Complete details and draft normative text are contained in Public Consultation Call SNC 02/26.
