Convergence to the International Accounting Standards: an analysis from the perspective from the professional accountants

Abstract

Following the edition of Law 11638/2007, Brazil went on to provide, in its legal system, the adoption of international accounting standards. The purpose of this paper is to perform an analysis, from the perspective of professional accountants, in relation to the convergence with international standards, and that are present in professional practice daily of these professionals.  It was noted that the absolute majority of the professionals are aware of the existence of this process. However, the perception of the professionals is that the convergence process is more related to the formal issues, such as the nomenclature of equity groups, than the conceptual aspects. The results also indicate that the professionals, although they are aware of the changes, still show a resistance to promote the conceptual changes needed, which will promote the implementation of national accounting practice for the International Standards. The resistance and possible conflicts should be subject to an appropriate resolution by all professionals involved in the procedures, because political aspects and of power can influence negatively the way in which is conducted the process of convergence with International Standards, in accordance with the legal prerogatives.