Central Bank of Brazil proposes new financial statement standards

The Central Bank of Brazil has opened a public consultation regarding proposed resolutions from the National Monetary Council and the Central Bank. The proposals aim to modify the general criteria for the preparation and disclosure of financial statements by institutions required to use the Cosif accounting standard. The primary goal is to achieve greater alignment with international accounting standards.

Under the proposed regulations, institutions would need to observe shared characteristics when classifying and aggregating assets, liabilities, equity, revenues, expenses, or cash flows. Additionally, institutions must evaluate whether their primary business activity is asset investment or client financing, with the results and any future changes disclosed in explanatory notes. Revenues and expenses would be classified into five specific categories: operational, investment, financing, taxes on profit, and discontinued operations.

Interested parties can submit suggestions until November 9, 2026, via the Central Bank website, the Participa + Brasil portal, or through the Financial System Regulation Department (Denor).