Nível de evidenciação obtido na divulgação das notas explicativas de instrumentos financeiros derivativos segundo a deliberação CVM n° 550/08

Abstract

The derivatives market has grown and refi ned in recent years, with the need to regulate this practice through the institutionalization of specifi c notes. Thus, this study aims to analyze the explanatory notes relating to derivative fi nancial instruments of a public company in the food sector of the city of trying to check whether they are appropriate to the quality standards recommended by the CVM. 550 of 17 October 2008. To this end, we carried out a qualitative study of documentary character, the data were analyzed using the technique of content analysis. It was found that the company discloses studied qualitative and quantitative information about its fi nancial instruments and the notes thereto are in accordance with the new guidelines of the CVM, thus improving visibility, but without clear disclosure of all risks inherent in the operations of protection company¿s activity. It is believed that with the emanation of clearer rules for using these instruments there had been a change in the quality of information disclosed is also moving towards greater clarity on the degree of risk exposure of the company at which to invest. We conclude that the effectiveness and implications based on the quality of information that will be brought in view of the institutionalization of norms, are still to come, and thus opens a way to improve education and further studies on the subject, increasingly aligning practices with the Brazilian quantitative and qualitative requirements of international accounting standards (IFRS).