Changes to accounting practices in Brazil

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28 Sep 2008

Recent amendments to the Brazilian Corporate Law (Law No. 11,638) have introduced changes to accounting practices generally accepted in Brazil, effective for fiscal years beginning on or after 1 January 2008.

The Law designed primarily to update accounting practices under Brazilian Corporate Law 'to enable the convergence of Brazilian accounting practices with accounting standards generally accepted in the international capital markets'. Deloitte (Brazil) has published bulletins in English and Portuguese explaining the changes:

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