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February 3, 2015

Brazilian profession travels to Argentina to strengthen IFRS in the region

By Vincent Huck

In a two day meeting held in Buenos Aires, The Federal Accounting Council (CFC) president Jose Martonio Alves Coelho met with his Argentinian counterpart and with the Group of Latin-American Accounting Standard Setters (GLENIF) in an effort to further enhance the use of IFRS in Latin America.

Coelho first met with GLENIF president Jorge José Gil in an effort to increase Brazil’s participation in the group and improve its performance.

"We reached the conclusion that we need to create a strong technical base in the GLENIF," Coelho said after the meeting before adding that accounting bodies in Latin America need a greater integration in order for the GLENIF to participate more actively in the decisions of the International Accounting Standards Board (IASB).

Coelho also met with the Argentinian Federation of Professional Councils of Economic Sciences (FACPCE) president Ramón Nicastro and its vice president Silvia Beatriz Lemos. Also present in the meeting was Interamerican Accounting Association (AIC) vice-president of professional development Edgardo Fernández.

The three organisations discussed joint actions between Brazil and Argentina to develop the Latin American profession. They’ve also agreed on the necessity of a greater integration of Latin American countries in order to strengthen the GLENIF and AIC.

The protagonists agreed to meet again next April in Brasilia with the Latin American board of the IASB and the members of the Brazilian Institute of Independent Auditors (IBRACON). It was agreed that during that meeting the GLENIF will present a report of activities.

CFC = Conselho Federal de ContabilidadeGLENIF = Grupo Latinoamericano de Emisores de Información Financiera FACPCE = Federação Argentina de Conselhos Profissionais de Ciências EconômicasAIC = Associação Interamericana de ContabilidadeIBRACON = Instituto Brasileiro de Auditores Independentes do Brasil

Related link:

Round table: Latin American profession dances to its own tune

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