By Bianca Sampaio
Glenif Communication
The Latin American Group of Issuers of Financial Information Standards (Glenif) began, last Tuesday (21), its third annual congress, which has as its theme “IFRS in Latin America”. The event, which takes place online, brings together experts and authorities from the accounting and financial sector from several Latin American countries, to discuss the advances and challenges of applying international accounting standards (IFRS).
At the opening of the congress, the president of Glenif, José Luiz Carvalho, presented the projects carried out by the group, its work agenda in 2023 and the prospects for the year 2024. Carvalho highlighted the importance of Glenif as a forum for debate and harmonization of IFRS in Latin America, and highlighted the role of accounting as an instrument of transparency and sustainability.
Next, several panels were held, with the participation of Glenif members and guests, which addressed topics relevant to the accounting and financial scenario in Latin America, as described below:
- Glenif’s work agenda, with ongoing projects and pending topics, topics moderated by Jimmy Jay Bolaño Tarrá, vice-president of the group.
- International themes, with the presence of Ann Tarca, member of the International Accounting Standards Board (IASB), who explained the objectives and work of the body in developing evidence-based standards.
- The documents under consultation, in progress and/or completed by the Iasb, and the Glenif opinion, a topic moderated by José Luiz Carvalho, with presentations by William Biese, from Mexico; José Hernandez, from Venezuela; and Patrick Matos, from Brazil, on IFRS 9, IFRS 15 and IFRS 11, respectively.
- International tax reform and the second pillar rule, which provides for a minimum global taxation of 15%, the implications for accounting and the disclosure of tax information, topics presented by José Luiz Carvalho.
- The importance of accounting for economic and social development, a subject presented by Juarez Domingues Carneiro, fwho was the founding chairman of Glenif and former chairman of the CFC;
- Other topics being studied by Glenif and Iasb, moderated by Carlos Filgueira, from Chile, with contributions from Hernán Casinelli and Domingo Marchese, from Argentina, on the participation method and the capitalization of disbursements during a development phase.
- The agenda of the Accounting Standards Advisory Forum (Asaf), an IASB advisory group, which aims to evaluate the different aspects of IFRS, presented by Carlos Valle, Glenif representative before Asaf.
- The agenda decisions of the IFRS Interpretations Committee (Ifric), a committee that provides guidance on the practical application of IFRS, topics moderated by Winston Fernández, from Uruguay.
The Glenif congress continues with its second day program (22/11), with other panels and debates on IFRS in Latin America. It is still possible to register, follow the discussions live and interact with the speakers through the broadcast platform’s chat.