Forvis Mazars ready to comply with Resolution CVM No. 193

The Securities and Exchange Commission (CVM) enacted Resolution No. 193 of 2023. Learn how to prepare for this resolution and how Forvis Mazars can support you.

The Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários or CVM) recently enacted Resolution CVM No. 193, dated October 20, 2023, which establishes important guidelines for the preparation and disclosure of sustainability-related financial information reports. Based on the International Sustainability Standards Board (ISSB) international standards, this resolution aims to enhance the transparency and reliability of sustainability information disclosed by companies in the Brazilian financial market.

Why is Resolution CVM No. 193 Important?

Resolution CVM No. 193 is rooted in a recommendation from the International Organization of Securities Commissions (IOSCO) to adopt sustainability information disclosure standards issued by the ISSB. IOSCO concluded that these standards provide an effective global framework to assist global financial markets in assessing sustainability-related risks and opportunities. Additionally, the resolution seeks to align Brazilian practices with international standards, increasing the transparency, reliability, and comparability of this information.

Forvis Mazars' Role in Sustainability Auditing

Forvis Mazars, one of the world's leading audit and consulting firms, is equipped to meet the demands set forth by Resolution CVM No. 193. The company is prepared to assist publicly traded companies, investment funds, and securitization companies in preparing and disclosing financial information reports related to sustainability, following the international ISSB standard.

Key Dates to Be Aware Of:

  • January 1, 2024: Commencement of the voluntary option to prepare and disclose sustainability reports based on ISSB.
  • May 31, 2024: Deadline for publicly traded companies to declare their voluntary option.
  • January 1, 2026: Date when the preparation and disclosure of sustainability reports based on ISSB standards becomes mandatory for publicly traded companies.

Auditing and Transparency

One of the crucial points of the resolution is the requirement for companies to subject their sustainability-related financial information reports to assurance by an independent auditor registered with CVM. Starting in 2026, reasonable assurance will be mandatory. Forvis Mazars is ready to provide this service, ensuring that the sustainability information disclosed by companies is accurate and reliable.

Resolution CVM No. 193 comes into effect on November 1, 2023, and Forvis Mazars reaffirms its commitment to assisting companies in complying with these new guidelines. The adoption of ISSB standards will enhance transparency in the financial market and contribute to the development of a sustainable and regenerative economy in Brazil.

Access the full resolution: 

Click here (document in portuguese)


For more information on how Forvis Mazars can assist your company in complying with Resolution CVM No. 193, please contact us through the form below. We are prepared to provide the necessary support on this journey towards sustainability and transparency in the Brazilian financial markets.

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