ANALYSIS OF BUSINESS COMBINATION PROCESSES UNDER THE OPINION OF CPC 15: A STUDY OF FINANCIAL INSTITUTIONS IN BRAZIL IN THE PERIOD 2008 TO 2012

Abstract

The corporate reorganization processes involve complex operations of obtaining control. The study aimed to analyze the notes of Brazilian financial institutions in the period from 2008 to 2012 to check the level of disclosure in relation to the information required by the Pronouncement 15 of the Accounting Pronouncements Committee (CPC 15). Regarding the methodological procedures this research is classified as exploratory as the objective and qualitative the nature. Was used for measuring the level of disclosure the disclosure employee rate in the study by Nakayama (2012) and Assis et al. (2013).Of the 144 financial sector companies only 38 companies contemplated the research sample. 89 of business combinations were checked, 79 incorporations, mergers 5, 3 divisions and 2 reverse mergers. It was identified that the companies obtained a general average rate of 0.2333 in five years, indicating a low level of disclosure. The results scored that financial institutions with better overall in disclosure rates are the banking sector, and the with higher levels of disclosure: Bank of Brazil (2009, 2010, 2011), Itaú (2008) and Ultrapar (2012). It was found that the recommended disclosures of items in CPC 15 the most significant were on general information and points allocation of identifiable assets and liabilities assumed, since, the least dealt with the information about the contingent consideration, transactions occurring separately from the combination and on combination occurred in stages.