GLENIF — Grupo Latinoamericano de Emisores de Normas de Información Financiera

GLASS elects new authorities for the 2024-2026 term

CFC Communication In an important series of assemblies held last Tuesday (6), the Group of Latin American Accounting Standard Setters (GLASS) elected new leaders for the upcoming two-year term. During the extraordinary assembly, Hernán Casinelli, representative of the Federación Argentina de Consejos Profesionales de Ciencias Económicas (FACPCE), was chosen as the new President of the Group. In the annual ordinary assembly, Norelly Pinto, representative of the Federación de Colegios de Contadores Públicos de Venezuela (FCCPV), was elected as Vice President, both serving from 2024 to 2026. The current President, José Luiz Carvalho, concluded his 2022-2024 term with words of gratitude, highlighting the achievements of his administration and congratulating the newly elected members. Carvalho also emphasized the continuity of key issues with the reelection of Brazil, Peru, and Colombia as permanent directors and Uruguay as an alternate director, strengthening the role of these countries in advancing accounting and sustainability standards in Latin America. The active participation of nearly all Glenif member countries in the assemblies reaffirms the collective commitment of Latin American countries to foster solid and collaborative governance for the accounting sector, underscoring the importance of joint efforts in developing standards that benefit the region.

Glenif Present at the 21st Brazilian Accounting Congress

Last week, the president of the Group of Latin American Accounting Standard Setters (GLASS), participated in the 21st Accounting Congress, an event that brought together over 6,000 professionals from the accounting field, including accountants, academics, and leaders of organizations in the sector. The congress, which had the theme “BEING ACCOUNTING – HUMAN, DIGITAL, AND ETHICAL,” addressed various aspects of the profession. During his presentation, the president shared the panel with other key figures in the accounting world, such as Asmâa Resmouki, president of the International Federation of Accountants (IFAC), Paula Franco, president of the Ordem dos Contabilistas Certificados (OCC) y Zulmir Breda, member of the Comité de Integración Latino Europa-América (CILEA). They highlighted the relevance of international accounting entities, such as the IFRS Foundation, IFAC, OCC, and CILEA. He emphasized that the adoption of international standards is crucial to ensuring the comparability and transparency of financial information, especially in a context of increasing globalization of markets. The president also addressed the challenges faced by accounting entities in Brazil relation to the implementation of the new financial and sustainability reporting standards, highlighting the need for a joint effort among regulatory bodies, professionals, and educational institutions. He mentioned initiatives by Glenif aimed at training accountants, which seek not only to ensure compliance but also to promote excellence in accounting practice through courses and webinars. Glenif’s participation in the congress demonstrates the entity’s commitment to promoting the evolution of accounting in Latin America, aligning with best global practices and contributing to the strengthening of the profession.

Meeting of the GLENIF Assurance Permanent Working Group

On August 13th, the meeting of the GLENIF Permanent Working Group on Assurance was held. The meeting began with a welcome from the supervisor, followed by the appointment of the group’s coordinator and vice-coordinator, who will lead the next phases of work. Important topics from the IAASB agenda were reviewed, addressing crucial issues for adapting international standards to the region’s realities. Additionally, regional priorities and the next steps to be taken were discussed. Meeting´s record of the GLENIF Assurance Permanent Working Group

18th Meeting of the GLENIF Board of Directors

On August 16, 2024, the 18th Meeting of the Glenif (Latin American Group of Financial Reporting Standards Issuers) Board of Directors was held. During this important meeting, the creation of three new Technical Working Groups (GTT) was discussed, which will focus on key areas for the development and adaptation of financial standards in the region. GTT 118 will address “Traducción a una Moneda de Presentación Hiperinflacionaria”. GTT 119 will deal with “Modificaciones a la NIIF 19 Subsidiarias sin obligación pública de rendir cuentas – Información a revelar”. Finally, GTT 120 will focus on “Incertidumbres relacionadas con el clima y otras incertidumbres en los estados financieros”. In addition to discussing these new working groups, the Coordinators presented their respective work plans, outliningthe strategies and goals that will guide these teams’ activities in the coming months. This meeting reflects Glenif’s ongoing commitment to improving and adapting financial reporting standards to address the specific challenges and needs of the Latin American region. Record of the 18th Meeting of the Glenif Board of Directors

Announcement: Join the 2nd Edition of Ibracon ESG Week – A Free Online Event

GLENIF is pleased to announce the second edition of the Ibracon ESG Week, which will take place from August 26 to September 5, 2024. This event, organized by Ibracon, will be entirely online and free, bringing together experts to discuss the most relevant topics in the ESG agenda – Environmental, Social, and Corporate Governance. With an extensive and diverse program, the Ibracon ESG Week will feature more than 30 panelists in 9 panels, totaling 18 hours of high-level content. This is a space for reflection and knowledge exchange, where accounting professionals, investors, governance experts, and other market participants will gather to discuss the challenges and opportunities of the ESG agenda, highlighting Brazil’s role as a leader in sustainable development. The event not only reaffirms Ibracon’s commitment to sustainable development but also promotes awareness and empowers professionals to become agents of change with a focus on public interest. This is an invitation for all professionals and those interested in the ESG agenda to join this initiative, actively participating and helping to promote the event within their networks. Join and Share! Visit the event website to register: https://www.ibracon.com.br/esgweek/

Round Table: Practical Strategies and Challenges for Sustainability Reporting

GLASS is pleased to invite you to our upcoming round table on “Practical Strategies and Challenges for Sustainability Reporting.” This event will take place on August 5th at 12h (UTC -3) and will be live-streamed on our YouTube channel. Participants: Members of the GLASS Board Members of the CPS – Permanent Sustainability Commission Special Guests: Companies Auditors Members of the ISSB During this round table, we will discuss efficient practices and the main challenges faced in preparing sustainability reports. This will be a moment of great learning and exchange of experiences, featuring the participation of renowned experts in the field. Don’t miss this opportunity! Link to the live stream: GLASS YouTube