Regulatory Alerts2020-05-29 | Resolução CMN 4818CMN Resolution No. 4818 — Consolidates General Criteria for Preparation and Disclosure of Individual and Consolidated Financial Statements by Financial Institutions
The Central Bank of Brazil, via the National Monetary Council, issued Resolution No. 4818 to consolidate the general criteria for the preparation and disclosure of individual and consolidated financial statements by financial institutions. The regulation mandates specific annual and semi-annual financial statements, requires adherence to International Financial Reporting Standards (IFRS) for consolidated reports by open companies and prudential conglomerates, and establishes strict presentation and audit disclosure requirements. It also repeals previous resolutions and sets the effective date for implementation as January 1, 2021.
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