Institute dos Auditores Independents do Brasil

IBRACON Brazil’s main accounting and external auditing organization. The acronym IBRACON is based on the organization’s previous name Instituto Brasiliero do Contadores - the name of the organization changed in 2001, but the well-known acronym was retained. IBRACON was established in 1971 from preexisting accounting and external auditing organizations. It issues Brazil’s *accounting standards and *auditing standards. The former are based on IAS but with some modifications. Web site (Portuguese only): www.ibracon.com.br