Circular No. 3472 — Establishes conditions and procedures for the preparation and disclosure of consolidated financial statements based on the international accounting standard issued by the International Accounting Standards Board (IASB)

CIRCULAR NO. 003472

Establishes conditions and procedures for the preparation and disclosure of consolidated financial statements based on the international accounting standard issued by the International Accounting Standards Board (IASB).

The Collegiate Board of the Central Bank of Brazil, in a session held on October 22 and 23, 2009, based on Article 9 of Law No. 4,595, of December 31, 1964, and considering the provisions of Resolution No. 3,786, of September 24, 2009,

D E C I D E D:

Art. 1. The consolidated financial statements referred to in Resolution No. 3,786, of September 24, 2009, must be prepared as of the base date of December 31 and disclosed within ninety days after that date, accompanied by the respective explanatory notes and the report of the independent auditor.

Sole Paragraph. The statements referred to in the caput must be presented in Portuguese and in thousands of reais, on the institution's website on the internet, remaining available for public access for a minimum period of five years, including in cases of transformation, incorporation, spin-off, or merger.

Art. 2. The preparation and disclosure of the consolidated financial statements must be carried out by the controlling institution of the group of consolidated entities, whose director designated in accordance with Article 5 of the Regulation annexed to Resolution No. 3,198, of May 27, 2004, is responsible for the fidelity of these statements and for compliance with the deadlines.

Art. 3. The controlling institution must keep available to the Central Bank of Brazil, for a minimum period of five years, documentation proving the preparation and disclosure of the consolidated financial statements.

Art. 4. This circular enters into force on the date of its publication.

Brasília, October 23, 2009.

Alexandre Antonio Tombini
Director