EVIDENCE OF INTANGIBLE ASSETS IN BRAZIL AND AUSTRALIA UNDER THE PER-SPECTIVE OF THE THEORY OF THE CULTURAL RELEVANCE OF ACCOUNTING

Objective: To evaluate the differences in the disclosure practices of intangible assets, according to IFRS specifications, in Brazilian and Australian companies. Rationale: Intangible assets have relative subjectivity that makes it difficult to estimate their future economic benefits. Despite the requirement to disclose this information, there is low adherence to CPC 04, which can be investigated by comparing the Brazilian dissemination with culturally distinct countries, such as Australia. This perspective is supported by the Theory of Cultural Relevance in Accounting, proposed by Gray (1988). Method: The sample consists of 6 companies listed on the BM & FBovespa and 10 companies of the Australian Securities Exchange, belonging to the Information Technology sector, subsector of Programs and Services. The level of disclosure of intangible assets was identified by analyzing the content of the financial statements for the year 2015, based on the requirements of IAS 38. The difference in means was made by the Mann-Whitney U test. Results: The average level of disclosure of intangible assets of Australian companies was 52,73% and Brazilian companies was 43,18%. This result meets the expectation of greater disclosure by Australian companies, supported by Gray's Theory of Cultural Relevance of Accounting (1988). However, the assumption that Australia's culture influences high transparency has not been verified. Contributions: It discusses the understanding of the accounting exercise from local behavioral precepts, expanding empirical notions based on Cultural Relevance, a theoretical approach that is not much debated. It raises questions about the position of the Brazilian bodies that issue accounting standards on the actions employed in order to adapt the Brazilian trends stemming from the culture to IFRS compliance.