This paper describes the experience of the National Treasury of Brazil as it implemented Project SICONFI, an effort to modernize and improve financial reporting across federal, state and local governments in that country.
It provides a short history of legislation and laws governing financial reporting in Brazil,
the impetus for improvement and a technical overview of the use of XBRL GL to meet
the objectives of the project.
The paper concludes with a synopsis of the lessons learned from the effort and how the
National Treasury plans to use Project SICONFI as the basis for ongoing improvements to
financial reporting in Brazil.