DISCLOSURE OF FAIR VALUE MEASUREMENT CRITERIA: AN ANALYSIS OF THE ASSETS OF BRAZILIAN OPEN CAPITAL COMPANIES

Abstract

Considering the relevance and complexity of the measurement of assets at fair value, this work had the aim of verifying the disclosure of the criteria for measuring fair value in the assets of Brazilian publicly traded companies. We delimited the analysis of the fair value disclosure of the following assets: investment properties, financial instruments and biological assets. The research sample is made up of the 40 largest publicly traded Brazilian companies, according to Exame magazine, excluding financial institutions. We analyzed the financial statements of the 40 companies, in the fiscal years of 2014 and 2015, totaling 80 observations. Initially, the companies that showed ownership of the assets delimited in the survey were separated. Through an elaborated checklist, it was possible to score the disclosure of fair value measurement criteria in the component companies in the sample. After the analysis, it was verified that the level most used by the companies was level 2, but the companies did not show the assumptions used to collect the information, it was also verified that in companies that had only one asset delimited only 30,42% have demonstrated to some extent the measurement criteria for valuation of assets at fair value. However, even those that evidenced the measurement criteria, nevertheless, are still insufficient information and are not absolutely in accordance with the requirements named by CPC 46 (2012).