Accountancy Disclosure: The Most Divulged Items in the Company Reports of the Financial Reports of Participating Companies in Bovespa's Levels of Governance

Abstract

    Through content analysis, this article examines the most disclosed items in the Company Reports of the Financial Reports of participating companies in Bovespa's levels of governance, classified as obligatory by Law nº 6,404/76 or recommended by the CVM through Guideline nº 15/87 (Group 1) as well as non-obligatory nor recommended items of disclosure in this report by the companies researched (Group 2). The methodology used was a descriptive survey type with a qualitative-quantitative approach. The results show that 58 public Brazilian companies, participants in levels 1 and 2 of governance and the new market of Bovespa, according to BDI 90/2005, independent of the level of governance, showed the highest number of disclosure sentences in the first four items of Group 1, being in the following order: social business and main administrative facts/business description, products and services; general economic conjuncture commentaries and perspectives and plans for the current and following administrative years; human resources; and investments made or to be made in controlled and linked companies. In Group 2, social responsibility/Social balance and corporate governance were the most disclosed items in all levels of governance.