The Brazilian Ministry of Finance and the Securities and Exchange Commission of Brazil (Comissão de Valores Mobiliários, CVM) have unveiled plans to integrate the International Sustainability Standards Board’s (ISSB) IFRS Sustainability Disclosure Standards into Brazil’s regulatory framework.
In our interview with Bruno Simoes from the Brazil National Treasury, he gave an overview of the XBRL project there and details how using XBRL is improving government reporting though enhanced data transparency and accuracy. The true strength of XBRL he says is that “XBRL empowers the business person. You are no longer a rider in a car being […]
Bruno Simoes from the Brazil National Treasury gives an overview of the XBRL project there and details how using XBRL is improving government reporting though enhanced data transparency and accuracy.
The XII Best Practices Board (BPB) has worked with the Brazilian National Treasury and their implementation team to prepare a case study that explains in-depth their experience implementing XBRL GL for government-to-government reporting.
The Brazil GAAP Commercial and Industrial Taxonomy has been added to XII’s list of Acknowledged Taxonomies. XII’s multi-step Taxonomy Recognition Process validates the conformance of the taxonomy to the XBRL specification, determines that a taxonomy has been correctly authored, and that it has had sufficient input from the public and meets the needs for which it was created. Learn more.
The Brazilian Treasury (Secretaria do Tesouro Nacional) has released a preliminary version of their basic taxonomy for the Public Sector Accounting and Fiscal Information System (SICONFI) project, including the Statement of Annual Accounts, composed of entries for the Balance Sheet, Budgetary Revenues, Budgetary Expenditures, Expenses by Function, Payables and Changes in Equity. The taxonomy is viewable here. (Portuguese)
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
