On Nov. 21, BRZ CB reported mandatory preparation and disclosure.
BRZ CB published Resolution 5.185 to amend Resolution 4.818, which consolidates criteria to prepare and disclose individual and consolidated financial statements.
Highlights
Financial institutions must prepare, disclose a report on financial data re sustainability.
The report is mandatory for those disclosing consolidated annual financial statements.
Also, the report must be subject to reasonable assurance by an independent auditor.
The standard provisions are aligned with Resolution 193 requirements, see #188700.
This measure allows data to be considered when deciding on resource provision.
Additionally, this measure encourages sustainable, balanced economic development.
As of 2026 fiscal year, mandatory for those registered as publicly-held, part of S1, S2.
Institutions in segment S3 and those that voluntarily publish consolidated financial statements adopting IFRS standard, this will be mandatory as of 2028 fiscal year.
Those voluntarily disclosing the report must fully adopt ISSB international standard.
Effectiveness
Resolution 5.185 shall come into force on Jan. 1, 2025.
Nov. 28, 2024 BRZ CB Reporting Update
On Nov. 28, 2024, BRZ CB issued Resolution 435 to amend Resolution 2, of Aug. 2020.
Art 2 considered temporary for preparing, disclosing individual financial statements.
Institutions must prepare and disclose the report of financial data on sustainability.
They also must prepare and disclose this report as part of their financial statements.
In the 1st year of the report, disclosure of financial statements may be segregated.
Revoked paragraphs 3, 4 of Article 19; Resolution 435 in force on Jan. 1, 2025.
