Tag Archives: COSIF

ILN Today Post

Public consultation on accounting for financial instruments

The Central Bank of Brazil has put in public consultation as of August 30, 2017 a proposal for a resolution on the accounting of financial instruments. Public Notice No. 54/2017 provides for measures to reduce asymmetries between the model established in the Accounting Plan of the National Financial System Institutions (COSIF) and the pronouncements issued by the International Accounting Standards Board(IASB).

The changes suggested by the Central Bank, in line with the guidelines of the IASB, reach the financial institutions regulated by the institution. IFRS 9 – Financial Instruments , the IASB, is one of the main accounting standards that affect the financial system.

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