THE EFFECT OF ADOPTING INTERNATIONAL ACCOUNTING STANDARDS IN THE REPORTS OF THE INDEPENDENT AUDITORS: A STUDY IN COMPANIES LISTED ON THE BM&FBOVESPA

Abstract

The adopting of International Accounting Standards at Brazil generated effects on economical and financial information reported in the financial statements. This process can influence the independent auditor stance in relation to the audit examinations. Has been research question: The adopting international accounting standards influenced the auditor to issue an opinion with paragraph of caveat and/or emphasis? The goal is to verify which types of caveats and emphasis more common before and after adopting international accounting standards by the Brazilian companies. The research examined the independent audit reports of 375 to 507 Brazilian listed companies in years 2005 to 2011. Among the findings, it is possible to verify that: a) the exceptions contained in the reports feature minor changes related to the process of convergence to standards, and b) the adoption impacted significantly emphasis paragraphs, especially in the year 2008 with the entry into force of Law 11,638/07.