The impacts of carrying out Brazil’s Accounting Pronouncements Committee (CPC) in Brazilian companies corporate social life

Abstract

The process of accounting convergence, led by the CPC (Brazil’s Accounting Pronouncements Committee), even though sometimes regarded in traditional Accounting, politically and economically neutral, will affect business structures that are not being widely discussed currently. The research problem of this study was to identify "What are the corporate structures and management processes affected by the phenomenon of CPCs implementation in Brazilian companies ". The research question was sent by mail to preparers of financial statements of 200 Brazilian companies with higher revenues and also for preparers of financial statements of financial institutions. After that, a Focus Group was organized to better understand the structures and processes identified from the analysis of emails received, and to promote their relationships with CPC’s statements. In conclusion, the convergence process promotes accounting changes related to remuneration policies, dividends estimation, credit, relations with suppliers, policy positions and salaries, business management, strategic planning, business area, risk management, control and internal tax planning.