ACCOUNTING CONSERVADORISM IN THE LEGITIMATION OF BRAZIL´S MINING PUBLIC COMPANIES

Abstract

The disruption of the Samarco Dam in 2015 in the city of Mariana (MG) caused immeasurable material, social and environmental damages. This study sought to analyze how the tragedy influenced the accounting and socioenvironmental statements of companies in the publicly traded ore sector in Brazil, with conservatism as a presumption in the publications and as an instrument to maintain the legitimacy of these companies. Through the content analysis technique, by means of direct reading, we categorized terms linked to the disaster in the four companies listed on the B3, in the years 2014, 2015 and 2016. Findings indicate, from the dam's rupture, the presence of accounting conservatism in the reports of Bradespar and especially Vale. In the documents of MMX and Litel there is no behavior compatible with maintaining legitimacy. There is concern about provisions with emphasis on business, environmental and market risks, judicial proceedings related to the disruption, as well as tests of impairment and changes in contingent liabilities, confirming the speed of disclosure of the bad news and an effort to maintain the legitimacy, but do not demonstrate the effective fulfillment of obligations before society. Even so, in 2019 the families of the victims did not have the indemnities completely removed, a fact that confirms that despite the provisions and the organization that the companies began to have since the disaster, it’s still necessary that other practices be adopted so that, if other dam ruptures occur, assistance to victims and others involved in the occurrence occurs more efficiently.