Portuguese accountants oppose proposed 2027 accounting changes

The Ordem dos Contabilistas Certificados (OCC) has expressed opposition to proposed changes to Portugal’s Accounting Standardization System (SNC) slated for implementation in 2027. Paula Franco, the head of the OCC, warned that professionals and companies currently lack the capacity for further major adjustments while adapting to new Social Security contribution cycles.

The project, led by the Comissão de Normalização Contabilística (CNC), aims to approve new regulations by the end of 2026. Proposed changes include modifications to the chart of accounts, financial statements, and various regulatory norms. Franco noted that while some international financial reporting standards (IFRS) require updates—such as those regarding financial leases—other proposed changes, like renaming the balance sheet to 'financial position,' may be unnecessary.