Audit and Corporate Governance: The Convergence Between BR GAAP, SOX, and Good Accounting Practices

• Author(s): Karina da Fonseca Inacio Silva
• Paper ID: 1712054
• Page: 772-775
• Published Date: 31-07-2023
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 7 Issue 1 July-2023

Abstract

This article examines the convergence and practical interplay between Brazilian Generally Accepted Accounting Principles (BR GAAP), the United States’ Sarbanes–Oxley Act (SOX), and International Financial Reporting Standards (IFRS). It argues that while formal convergence of recognition and measurement rules has advanced comparability of financial statements, the effectiveness of that convergence in delivering reliable information ultimately depends on robust internal controls, ethical conduct, and corporate governance mechanisms. Research indicates that accounting standards alone cannot ensure reporting quality: enforcement, auditor independence, and professional ethics are decisive for translating accounting rules into trustworthy financial reporting (Leuz & Wysocki, 2008; Ball, 2006). The discussion highlights how Brazilian entities can align technical convergence with governance frameworks to enhance transparency and investor confidence.

Keywords

BR GAAP; IFRS; Sarbanes–Oxley; internal control; corporate governance; audit quality; Brazil.

Citations

IRE Journals:
Karina da Fonseca Inacio Silva "Audit and Corporate Governance: The Convergence Between BR GAAP, SOX, and Good Accounting Practices" Iconic Research And Engineering Journals Volume 7 Issue 1 2023 Page 772-775

IEEE:
Karina da Fonseca Inacio Silva "Audit and Corporate Governance: The Convergence Between BR GAAP, SOX, and Good Accounting Practices" Iconic Research And Engineering Journals, 7(1)