IFRS e probabilidade de republicação: um estudo das empresas brasileiras listadas na Bovespa

Autores

DOI:

https://doi.org/10.16930/2237-7662/rccc.v17n52.2694

Palavras-chave:

Republicação, Ressalva, IFRS.

Resumo

Esta pesquisa estudou o período de transição e pós-transição da adoção das Normas Internacionais para Contabilidade (International Financial Reporting Standards – IFRS) no Brasil, com o objetivo de analisar seu efeito em republicação de relatórios financeiros e na emissão de parecer de auditoria com ressalva ou reprovação. Esta pesquisa analisou 613 empresas listadas na BM&FBovespa no período de 2001 a 2016. A análise foi elaborada por meio de um modelo Logit, testando-se as hipóteses de que a adoção das IFRS no Brasil reduzisse tanto a probabilidade de republicação quanto de emissão de parecer com ressalva ou reprovação. Os resultados obtidos indicaram que houve uma redução na probabilidade de pareceres com ressalva ou reprovação tanto no período de transição das IFRS quanto no pós-IFRS, com um efeito mais pronunciado neste último. Os resultados indicam que as IFRS podem ter tido um impacto positivo na qualidade das demonstrações, embora não tão forte quanto o desejado.

Biografia do Autor

Cosmeilson Rodrigues Soares, Fucape Business School

Fucape Business School. Endereço: Av. Fernando Ferrari, 1358, Boa Vista | 29075-505 | Vitória/ES | Brasil.

Fabio Yoshio Suguri Motoki, Fucape Business School

Fucape Business School. Endereço: Av. Fernando Ferrari, 1358, Boa Vista | 29075-505 | Vitória/ES | Brasil.

Danilo Soares Monte-mor, Fucape Business School

Fucape Business School. Endereço: Av. Fernando Ferrari, 1358, Boa Vista | 29075-505 | Vitória/ES | Brasil.

Referências

AICPA (2017). Modifications to the Opinion in the Independent Auditor’s Report. Recuperado de https://www.aicpa.org/research/standards/auditattest/downloadabledocuments/au-c-00705.pdf

Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors. Accounting and Business Research, 36(1), 5-27. doi: 10.1080/00014788.2006.99730040 DOI: https://doi.org/10.1080/00014788.2006.9730040

Ball, R., Robin, A., & Wu, J. S. (2003). Incentives versus standards: properties of accounting income in four East Asian countries. Journal of Accounting and Economics, 36(1), 235-270. doi: https://doi.org/10.1016/j.jacceco.2003.10.003 DOI: https://doi.org/10.1016/j.jacceco.2003.10.003

Barbosa, F. de H., Filho (2017). A crise econômica de 2014/2017. Estudos Avançados, 31(89), 51-60. DOI: https://doi.org/10.1590/s0103-40142017.31890006

Barry, C. B. & Brown, S. J. (1985). Differential information and security market equilibrium. Journal of Financial and Quantitative Analysis, 20(4), 407-422. DOI: https://doi.org/10.2307/2330758

Barth, M. E., Landsman, W. R., & Lang, M. H. (2008). International Accounting Standards and Accounting Quality. Journal of Accounting Research, 46(3), 467-498. doi: 10.1111/j.1475-679X.2008.00287.x DOI: https://doi.org/10.1111/j.1475-679X.2008.00287.x

Becker, C. L., DeFond, M. L., Jiambalvo, J., & Subramanyam, K. R. (1998). The effect of audit quality on earnings management. Contemporary accounting research, 15(1), 1-24. DOI: https://doi.org/10.1111/j.1911-3846.1998.tb00547.x

Cameran, M., Campa, D., & Pettinicchio, A. (2014). IFRS Adoption Among Private Companies: Impact on Earnings Quality. Journal of Accounting, Auditing & Finance, 29(3), 278–305. doi: 10.1177/0148558X14534260 DOI: https://doi.org/10.1177/0148558X14534260

Cassell, C. A., Myers, L. A., Seidel, T. A., & Zhou, J. (2016). The Effect of Lame Duck Auditors on Management Discretion: An Empirical Analysis. Auditing: A Journal of Practice & Theory, 35(3), 51-73. doi: https://doi.org/10.2308/ajpt-51378 DOI: https://doi.org/10.2308/ajpt-51378

Cavalier, G. R. & Tiras, S. L. (2013). Brazil’s adoption of IFRS: fertile ground for examining earnings management. Brazilian Business Review, 10(4), 133. DOI: https://doi.org/10.15728/bbr.2013.10.4.6

Chen, C. J. P., Chen, S., & Su, X. (2001). Profitability Regulation, Earnings Management, and Modified Audit Opinions: Evidence from China. AUDITING: A Journal of Practice & Theory, 20(2), 9-30. DOI: https://doi.org/10.2308/aud.2001.20.2.9

Christensen, H. B., Hail, L., Leuz, C. (2013), Mandatory IFRS reporting and changes in enforcement. Journal of Accounting and Economics, 56, 147-177. doi: 10.1016/j.jacceco.2013.10.007 DOI: https://doi.org/10.1016/j.jacceco.2013.10.007

Daske, H., Hail, L., Leuz, C. & Verdi, R. (2008). Mandatory IFRS Reporting around the World: Early Evidence on the Economic Consequences. Journal of Accounting Research, 46, 1085-1142. doi: 10.1111/j.1475-679X.2008.00306.x DOI: https://doi.org/10.1111/j.1475-679X.2008.00306.x

Daske, H., Hail, L., Leuz, C., & Verdi, R. (2013). Adopting a Label: Heterogeneity in the Economic Consequences Around IAS/IFRS Adoptions. Journal of Accounting Research, 51, 495-547. doi: 10.1111/1475-679X.12005 DOI: https://doi.org/10.1111/1475-679X.12005

De George, E. T., Ferguson, C. B., & Spear, N. A. (2012). How much does IFRS cost? IFRS adoption and audit fees. The Accounting Review, 88(2), 429-462. DOI: https://doi.org/10.2308/accr-50317

De George, F., Patel, J., & Zeckhauser, R. (1999). Earnings management to exceed thresholds. The Journal of Business, 72(1), 1-33. DOI: https://doi.org/10.1086/209601

DeAngelo, L. E. (1981). Auditor independence, ‘low balling’, and disclosure regulation. Journal of accounting and Economics, 3(2), 113-127. DOI: https://doi.org/10.1016/0165-4101(81)90009-4

Dechow, P., Ge, W., & Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their determinants and their consequences. Journal of accounting and economics, 50(2-3), 344-401. DOI: https://doi.org/10.1016/j.jacceco.2010.09.001

Durnev, A. & Kim, E. H. (2005). To steal or not to steal: Firm attributes, legal environment, and valuation. The Journal of Finance, 60, 1461-1493. DOI: https://doi.org/10.1111/j.1540-6261.2005.00767.x

Dye, R. A. (1993). Auditing standards, legal liability, and auditor wealth. Journal of political Economy, 101(5), 887-914. DOI: https://doi.org/10.1086/261908

Francis, J. R. (2011). A framework for understanding and researching audit quality. Auditing: A journal of practice & theory, 30(2), 125-152. DOI: https://doi.org/10.2308/ajpt-50006

Francis, J. R., & Michas, P. N. (2013). The contagion effect of low-quality audits. The Accounting Review, 88(2), 521-552. DOI: https://doi.org/10.2308/accr-50322

Francis, J., Olsson, P., & Schipper, K. (2006). Earnings Quality: fundations and trends in accounting. Boston: Now Publisher Inc. DOI: https://doi.org/10.1561/1400000004

Freitas, M. C. P. D., & Cintra, M. A. M. (2008). Inflação e deflação de ativos a partir do mercado imobiliário americano. Revista de Economia Política, 28(3). DOI: https://doi.org/10.1590/S0101-31572008000300003

Gebhardt, G., & Novotny?Farkas, Z. (2011). Mandatory IFRS Adoption and Accounting Quality of European Banks. Journal of Business Finance & Accounting, 38(3-4), 289-333. doi: https://doi.org/10.1111/j.1468-5957.2011.02242.x DOI: https://doi.org/10.1111/j.1468-5957.2011.02242.x

Geiger, M. A. & Raghunandan, K. (2002). Auditor tenure and audit reporting failures. Auditing: A Journal of Practice & Theory, 21(1), 67-78. DOI: https://doi.org/10.2308/aud.2002.21.1.67

Ghosh, A. & Moon D. (2002). Does Auditor Tenure Impair Audit Quality? Working paper, Baruch College.

Girotto, M. (2017). Pesquisas apontam os resultados da adoção das normas IFRS no Brasil. Revista Brasileira de Contabilidade, (222), 6-15. Recuperado de http://rbc.cfc.org.br/index.php/rbc/article/view/1482

Gupta, P., Krishnan, G., & Yu, W. (2012). Do Auditors Allow Earnings Management When Audit Fees Are Low? Recuperado de http://ssrn.com/abstract=1836829. doi: 10.2139/ssrn.1836829 DOI: https://doi.org/10.2139/ssrn.1836829

Hail, L., Leuz, C., & Wysocki, P. D. (2010). Global Accounting Convergence and the Potential Adoption of IFRS by the U.S. (Part I): Conceptual Underpinnings and Economic Analysis. Accounting Horizons, 24(3), 355-394. DOI: https://doi.org/10.2308/acch.2010.24.3.355

Horton, J., Serafeim, G., & Serafeim, I. (2013). Does Mandatory IFRS Adoption Improve the Information Environment?. Contemporary Accounting Research, 30, 388-423. doi: 10.1111/j.1911-3846.2012.01159.x DOI: https://doi.org/10.1111/j.1911-3846.2012.01159.x

Hung, M. & Subramanyam, K. R. (2007). Financial statement effects of adopting international accounting standards: the case of Germany. Review of accounting studies, 12(4), 623-657. DOI: https://doi.org/10.1007/s11142-007-9049-9

IFRS (2018). Why global accounting standards? Recuperado em 25 de setembro de 2018 de https://www.ifrs.org/use-around-the-world/why-global-accounting-standards/.

Jensen, M. & Mackling, W. H. (1976). Theory of The Firm: Managerial Behavior, Agency Cost and Ownership Structure. Journal of Financial Economics. DOI: https://doi.org/10.1016/0304-405X(76)90026-X

Jiang, H., Habib, A., & Zhou, D. (2015) Accounting restatements and audit quality in China. Advances in Accounting, 31, 125-135. doi: 10.1016/j.adiac.2015.03.014 DOI: https://doi.org/10.1016/j.adiac.2015.03.014

Kinney, W. R., Palmrose, Z. V., & Scholz, S. (2004). Auditor Independence, Non?Audit Services, and Restatements: Was the US Government Right?. Journal of Accounting Research, 42(3), 561-588. DOI: https://doi.org/10.1111/j.1475-679X.2004.t01-1-00141.x

KPMG (2009). A fraude no Brasil. Relatório da pesquisa 2009. Recuperado em 04 março, 2016, de http://www.kpmg.com.br/publicacoes/forensic/fraudes_2009_port.pdf

Lara, J. M. G., Torres, J. A. R., & Veira, P. J. V. (2008). Conservatism of earnings reported under International Accounting Standards: A comparative study. Spanish Journal of Finance and Accounting, 37(138), 197-210. doi: https://doi.org/10.1080/02102412.2008.10779642 DOI: https://doi.org/10.1080/02102412.2008.10779642

Larcker, D. F., Richardson, S. A., & Tuna, I. (2007). Corporate Governance, Accounting Outcomes, and Organizational Performance. The Accounting Review, 82(4), 963-1008. doi: https://doi.org/10.2308/accr.2007.82.4.963 DOI: https://doi.org/10.2308/accr.2007.82.4.963

Lei n. 6.404, de 15 de dezembro de 1976 (1976). Recuperado 23 de outubro de 2018, de http://www.planalto.gov.br/ccivil_03/LEIS/L6404consol.htm

Leuz, C. & Wysocki, P. D. (2016). The Economics of Disclosure and Financial Reporting Regulation: Evidence and Suggestions for Future Research. Journal of Accounting Research, 54, 525-622. doi: 10.1111/1475-679X.12115 DOI: https://doi.org/10.1111/1475-679X.12115

Linhares, F., Costa, F., & Beiruth, A. (2018). Earnings management and investment efficiency. Review of Business Management, 20(2), 295-310. doi: 10.7819/rbgn.v20i2.3180 DOI: https://doi.org/10.7819/rbgn.v20i2.3180

Lo, K., Ramos, F., & Rogo, R. (2017). Earnings management and annual report readability. Journal of Accounting and Economics, 63(1), 1-25. doi: https://doi.org/10.1016/j.jacceco.2016.09.002 DOI: https://doi.org/10.1016/j.jacceco.2016.09.002

Lobo, G. J. & Zhao, Y. (2013). Relation between audit effort and financial report misstatements: Evidence from quarterly and annual restatements. The Accounting Review, 88(4), 1385-1412. DOI: https://doi.org/10.2308/accr-50440

Marques, V. (2016). Qualidade das Informações Financeiras e o Ambiente Regulatório: Evidências empíricas no Período de 1998-2013. Tese de Doutorado em Administração, Centro de Pós-Graduação e Pesquisas em Administração – CEPEAD, Universidade Federal de Minas Gerais. Belo Horizonte, MG, Brasil.

McGuire, S. T., Omer, T. C., & Sharp, N. Y. (2012). The impact of religion on financial reporting irregularities. The Accounting Review, 87(2), 645-673. DOI: https://doi.org/10.2308/accr-10206

Merton, R. C. (1987). A simple model of capital market equilibrium with incomplete information. The journal of finance, 42(3), 483-510. DOI: https://doi.org/10.1111/j.1540-6261.1987.tb04565.x

Myers, J. N., Myers, L. A., & Omer, T. C. (2003). Exploring the term of the auditor-client relationship and the quality of earnings: A case for mandatory auditor rotation? The Accounting Review, 78(3), 779-799. DOI: https://doi.org/10.2308/accr.2003.78.3.779

Oliveira, F. S., Dias, J. M., Filho, & Gomes, S. M. da S. (2014). O Impacto do IFRS sobre os Custos de Auditoria no Brasil 2014. Anais do Encontro da ANPAD, Rio de Janeiro, RJ, Brasil, 38.

Oliveira, V. & Lemes, S. (2011). Nível de convergência dos princípios contábeis brasileiros e norte-americanos às normas do IASB: uma contribuição para a adoção das IFRS por empresas brasileiras. Revista Contabilidade & Finanças, 22(56), 155-173. doi: 10.1590/S1519-70772011000200003 DOI: https://doi.org/10.1590/S1519-70772011000200003

Paananen, M., & Lin, H. (2009). The Development of Accounting Quality of IAS and IFRS over Time: The Case of Germany. Journal of International Accounting Research, 8(1), 31-55. doi: https://doi.org/10.2308/jiar.2009.8.1.31 DOI: https://doi.org/10.2308/jiar.2009.8.1.31

Paulo, E. (2007). Manipulação das informações contábeis: uma análise teórica e empírica sobre os modelos operacionais de detecção de gerenciamento de resultados. Tese de Doutorado, Universidade de São Paulo, São Paulo, Brasil.

Pelucio-Grecco, M. C., Geron, C. M. S., Grecco, G. B. & Lima, J. P. C. (2014). The effect of IFRS on earnings management in Brazilian non-financial public companies. Emerging Markets Review, 21, 42-66. doi: 10.1016/j.ememar.2014.07.001 DOI: https://doi.org/10.1016/j.ememar.2014.07.001

Pires, C. de O., Decourt, R. F., Camargo, C. U. de O., & Siebel, V. (2012). Os impactos da fase final de transição para o IFRS no Brasil. Anais do Seminários em Administração, São Paulo, SP, Brasil, 15.

Rathke, A. A. T., Santana, V. de F., Lourenço, I. M. E. C., & Dalmácio, F. Z. (2016). International Financial Reporting Standards and Earnings Management in Latin America. Revista de Administração Contemporânea, 20(3), 368-388. doi: https://doi.org/10.1590/1982-7849rac2016140035 DOI: https://doi.org/10.1590/1982-7849rac2016140035

Schmidt, J. J. (2012). Perceived auditor independence and audit litigation: The role of nonaudit services fees. The Accounting Review, 87(3), 1033-1065. DOI: https://doi.org/10.2308/accr-10217

Silvestre, A. O., Costa, C. M., & Kronbauer, C. A. (2018). Audit Rotation And Earnings Quality: An Analysis Using Discretionary Accruals. Brazilian Business Review, 15(5), 410-426. doi: 10.15728/bbr.2018.15.5.1 DOI: https://doi.org/10.15728/bbr.2018.15.5.1

Solomon, I., Shields, M. D., & Whittington, O. R. (1999). What do industry-specialist auditors know? Journal of accounting research, 37(1), 191-208. DOI: https://doi.org/10.2307/2491403

Stanley, J. D., & DeZoort, F. T. (2007). Audit firm tenure and financial restatements: An analysis of industry specialization and fee effects. Journal of Accounting and Public Policy, 26(2), 131-159. DOI: https://doi.org/10.1016/j.jaccpubpol.2007.02.003

Veloso, F. & Bonelli, R. (2016). A Crise de Crescimento do Brasil. São Paulo: Elsevier.

Watts, R. L. & Zimmerman, J. L. (1981). The markets for independence and independent auditors. Unpublished manuscript. University of Rochester, NY.

Publicado

2018-10-11

Como Citar

Soares, C. R., Motoki, F. Y. S., & Monte-mor, D. S. (2018). IFRS e probabilidade de republicação: um estudo das empresas brasileiras listadas na Bovespa. Revista Catarinense Da Ciência Contábil, 17(52). https://doi.org/10.16930/2237-7662/rccc.v17n52.2694