Revista de Educação e Pesquisa em Contabilidade (REPeC)
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Gestão de riscos em universidades federais brasileiras: uma avaliação com enfoque no alcance de objetivos estratégicos
No full textObjective: To analyze how risk management is configured to support performance in achieving strategic objectives in Brazilian federal universities.
Method: Data from 35 federal universities were analyzed using fuzzy-set Qualitative Comparative Analysis (fsQCA), which enables a configurational understanding of organizations. Using fsQCA, the study sought to analyze connections between the performance of federal universities and the following conditions: risk management maturity; alignment of the internal control system; extent of use of management control systems; implementation time of the risk management policy; adoption of an implementation plan and/or methodology to guide risk management; and organizational size. The performance dimensions captured the main areas related to the universities’ objectives: teaching, research, human resources, and financial resources.
Results: The identified configurations were adapted to contingent factors, such as size, and revealed key factors associated with high performance in achieving strategic objectives. The following factors stood out: the establishment of a formal structure – through the adoption of an implementation plan and/or risk management methodology –, the maturity of risk management, the alignment of internal control systems (adequacy to risk management), and the use of management control systems to monitor performance and risks, as well as in disseminating a risk culture. Evidence suggests that risk management is integrated into the organizational activities of some of the institutions investigated, interacts with existing control systems, and acts as a governance mechanism aimed at achieving strategic objectives.
Contributions: The study offers relevant insights by employing a configurational approach to explore the relationship between risk management and performance in achieving strategic objectives, supporting practical recommendations by highlighting the complexity and non-linearity of implementation processes, as well as their dependence on dynamic interactions with institutional control systems. Furthermore, this study advances the theory by empirically demonstrating equifinality in the risk management arrangements adopted in universities and by offering a model to analyze the complementarity between different control systems.Objetivo: Analisar como a gestão de riscos está configurada para apoiar o desempenho no alcance de objetivos estratégicos em universidades federais brasileiras.
Método: Observaram-se dados de 35 universidades federais, por meio da Análise Qualitativa Comparativa Fuzzy-set (fsQCA), que permite uma compreensão configuracional das organizações. Com suporte na fsQCA, buscou-se analisar conexões entre o desempenho das universidades federais com as seguintes condições: maturidade da gestão de riscos; alinhamento do sistema de controle interno; extensão de uso dos sistemas de controle gerencial; tempo de implementação da política de gestão de riscos; adoção de um plano de implementação e/ou metodologia para direcionar o gerenciamento de riscos; e porte das organizações. As dimensões de desempenho analisadas capturaram as principais áreas relacionadas aos objetivos das universidades: ensino, pesquisa, recursos humanos e financeiros.
Resultados: As configurações identificadas se mostraram adaptadas a fatores contingenciais, como o porte, e revelaram fatores-chave associados ao alto desempenho no alcance de objetivos estratégicos. Destacam-se entre eles: o estabelecimento de uma estrutura formal ‒ por meio da adoção de um plano de implementação e/ou metodologia de gerenciamento de riscos ‒, a maturidade da gestão de riscos, o alinhamento dos sistemas de controle interno (adequação à gestão de riscos) e a utilização dos sistemas de controle gerencial no monitoramento do desempenho e dos riscos, bem como na disseminação de uma cultura de riscos. As evidências sugerem que, em parte das instituições investigadas, a gestão de riscos está integrada às atividades organizacionais, interage com os sistemas de controle existentes e atua como um mecanismo de governança voltado à consecução de objetivos estratégicos.
Contribuições: A pesquisa oferece insights relevantes, ao empregar uma abordagem configuracional para explorar a relação entre gestão de riscos e desempenho no alcance de objetivos estratégicos, sustentando recomendações práticas, ao evidenciar a complexidade e não linearidade dos processos de implementação, bem como sua dependência de interações dinâmicas com os sistemas de controle institucionais. Além disso, este estudo avança a teoria ao demonstrar empiricamente a equifinalidade nos arranjos de gestão de riscos adotados em universidades, oferecendo um modelo para analisar a complementaridade entre diferentes sistemas de controle
Informational Relevance of Audit Rotation: Evidence from Brazil
No full textObjective: This study investigates whether audit rotation provides incremental informational content for participants in the Brazilian capital market.
Method: The value relevance model of Collins et al. (1997) is applied to a sample of 402 companies (2,680 observations) listed on the B3 between 2010 and 2021. The rotation variables were obtained from the firms’ Reference Forms and classified by type (audit firm or audit partner), nature (voluntary or mandatory), and audit firm size (Big 4 or non-Big 4).
Results: The results show asymmetrical capital market reactions to audit rotation information. Rotation of signatory partners is positively value relevant, whereas mandatory audit rotation is not. The findings also indicate that replacements from non-Big 4 to Big 4 firms are perceived as value relevant, while any change to a non-Big 4 firm leads to negative investor responses.
Contributions: The study contributes by demonstrating that audit firm rotation constitutes a relevant accounting element for value creation in the market, as it functions as an informational mechanism that signals to investors the reliability of the reported accounting figures and the likelihood of detecting and reporting deviations in accounting practices.Objective: This study investigates whether audit rotation provides incremental informational content for participants in the Brazilian capital market.
Method: The value relevance model of Collins et al. (1997) is applied to a sample of 402 companies (2,680 observations) listed on the B3 between 2010 and 2021. The rotation variables were obtained from the firms’ Reference Forms and classified by type (audit firm or audit partner), nature (voluntary or mandatory), and audit firm size (Big 4 or non-Big 4).
Results: The results show asymmetrical capital market reactions to audit rotation information. Rotation of signatory partners is positively value relevant, whereas mandatory audit rotation is not. The findings also indicate that replacements from non-Big 4 to Big 4 firms are perceived as value relevant, while any change to a non-Big 4 firm leads to negative investor responses.
Contributions: The study contributes by demonstrating that audit firm rotation constitutes a relevant accounting element for value creation in the market, as it functions as an informational mechanism that signals to investors the reliability of the reported accounting figures and the likelihood of detecting and reporting deviations in accounting practices
Projection bias in tender offer valuation reports
No full textObjective: To examine whether, in tender offer valuation reports that apply the Discounted Cash Flow (DCF) method, five variables related to the issuance context contribute to explaining the overvaluation or undervaluation of projected economic–financial performance relative to the performance actually achieved.
Method: Multiple linear regression models were used for the main analysis. Additionally, decision tree and ridge regression models were estimated, although their results did not exceed those presented in this study. A binary model, also estimated as a supplementary procedure, confirmed the findings reported here. Confirmatory results were likewise obtained for the fee model using correspondence analysis.
Results: The findings demonstrate that the short-term difference between projected and actual performance is significant, indicating the presence of projection bias. This bias is explained by the tender offer modality and the industry of the firm being valued. The amount paid to the appraiser as fees was not significant in explaining this bias.
Contributions: Research on business valuation remains scarce in emerging countries. From a practical standpoint, evidence comparing projected and actual values contributes to users’ perceptions of valuation reports and to improving the performance and quality of the valuation process.Objective: To examine whether, in tender offer valuation reports that apply the Discounted Cash Flow (DCF) method, five variables related to the issuance context contribute to explaining the overvaluation or undervaluation of projected economic–financial performance relative to the performance actually achieved.
Method: Multiple linear regression models were used for the main analysis. Additionally, decision tree and ridge regression models were estimated, although their results did not exceed those presented in this study. A binary model, also estimated as a supplementary procedure, confirmed the findings reported here. Confirmatory results were likewise obtained for the fee model using correspondence analysis.
Results: The findings demonstrate that the short-term difference between projected and actual performance is significant, indicating the presence of projection bias. This bias is explained by the tender offer modality and the industry of the firm being valued. The amount paid to the appraiser as fees was not significant in explaining this bias.
Contributions: Research on business valuation remains scarce in emerging countries. From a practical standpoint, evidence comparing projected and actual values contributes to users’ perceptions of valuation reports and to improving the performance and quality of the valuation process
A opinião de um influenciador digital afeta a opinião dos usuários sobre escolhas contábeis das empresas?
No full textObjetivo: O estudo investiga a capacidade de influenciadores digitais de interferirem na opinião dos usuários das informações contábeis sobre as escolhas contábeis feitas pelas empresas ao reconhecer ganhos e perdas.
Método: A pesquisa é um experimento, com a participação de 598 estudantes, divididos em dois grupos – aqueles que acessaram apenas um trecho das notas explicativas de uma empresa e os que também assistiram a um vídeo com a opinião de uma influenciadora digital sobre o evento. Ambos os grupos avaliaram os critérios adotados para reconhecer os ganhos e as perdas.
Resultados: Os dados foram analisados e os resultados evidenciam que os participantes que assistiram ao vídeo, em ambos os casos, foram mais propensos a discordar do reconhecimento contábil e seguir a opinião da influenciadora.
Contribuições: O presente estudo demonstra o poder de persuasão dos influenciadores, em um ambiente que envolve o reconhecimento de eventos que exigem o uso de julgamento contábil. O influenciador digital pode atuar como alguém que reinterpreta a mensagem e, assim, sobrepor sua opinião a um conteúdo contábil específico. O estudo oferece uma contribuição relevante para reguladores, profissionais da contabilidade e usuários em geral, alertando para a necessidade de monitoramento da atuação dos influenciadores, além de destacar o papel das mídias sociais como intermediárias na comunicação de informações complexas.Objetivo: O estudo investiga a capacidade de influenciadores digitais de interferirem na opinião dos usuários das informações contábeis sobre as escolhas contábeis feitas pelas empresas ao reconhecer ganhos e perdas.
Método: A pesquisa é um experimento, com a participação de 598 estudantes, divididos em dois grupos – aqueles que acessaram apenas um trecho das notas explicativas de uma empresa e os que também assistiram a um vídeo com a opinião de uma influenciadora digital sobre o evento. Ambos os grupos avaliaram os critérios adotados para reconhecer os ganhos e as perdas.
Resultados: Os dados foram analisados e os resultados evidenciam que os participantes que assistiram ao vídeo, em ambos os casos, foram mais propensos a discordar do reconhecimento contábil e seguir a opinião da influenciadora.
Contribuições: O presente estudo demonstra o poder de persuasão dos influenciadores, em um ambiente que envolve o reconhecimento de eventos que exigem o uso de julgamento contábil. O influenciador digital pode atuar como alguém que reinterpreta a mensagem e, assim, sobrepor sua opinião a um conteúdo contábil específico. O estudo oferece uma contribuição relevante para reguladores, profissionais da contabilidade e usuários em geral, alertando para a necessidade de monitoramento da atuação dos influenciadores, além de destacar o papel das mídias sociais como intermediárias na comunicação de informações complexas
Gamification in accounting education using artificial intelligence algorithms
No full textObjective: To analyze the applicability of a game incorporating AI-based models, developed for the Business Budgeting course at a Brazilian public university.
Method: Data were collected from secondary sources related to the game. Descriptive statistics and the Mann-Whitney test were used for analysis.
Results: The findings describe the game's operation, the strategies used to develop AI-based models, and a comparison between student performance and that of the models. The analysis demonstrated the effectiveness of the strategies and highlighted student engagement in decision- making. The game’s design enables the development of skills such as leadership, initiative, persistence, adaptability, collaboration, and critical thinking. Moreover, the detailed game description offers educators a foundation for replicating it and adopting an innovative active learning methodology.
Contributions: The study underscores the relevance of gamification in Accounting education and the integration of AI, which enhances the complexity and realism of decision-making activities. It proposes a novel approach to accounting education that combines gamification and AI to foster more innovative and effective classroom learning.Objective: To analyze the applicability of a game incorporating AI-based models, developed for the Business Budgeting course at a Brazilian public university.
Method: Data were collected from secondary sources related to the game. Descriptive statistics and the Mann-Whitney test were used for analysis.
Results: The findings describe the game's operation, the strategies used to develop AI-based models, and a comparison between student performance and that of the models. The analysis demonstrated the effectiveness of the strategies and highlighted student engagement in decision-making. The game’s design enables the development of skills such as leadership, initiative, persistence, adaptability, collaboration, and critical thinking. Moreover, the detailed game description offers educators a foundation for replicating it and adopting an innovative active learning methodology.
Contributions: The study underscores the relevance of gamification in Accounting education and the integration of AI, which enhances the complexity and realism of decision-making activities. It proposes a novel approach to accounting education that combines gamification and AI to foster more innovative and effective classroom learning
Accounting research and tax reform: what will tomorrow be like?
No full textObjective: To highlight the central elements of the Tax Reform (Complementary Law No. 214 of 2025), identify avenues for research in accounting and taxation, and demonstrate how changes in the Brazilian tax system can guide academic agendas.Method: The study is based on a retrospective of Brazilian and international accounting and taxation research between 1925 and 2025, using data from the Web of Science. A total of 5,592 global and 88 Brazilian articles related to tax avoidance, tax evasion, and tax aggressiveness were mapped. VOSviewer was employed to generate density maps, thematic clusters, and co-authorship networks.Results: The findings show significant growth in taxation research worldwide after 2000 and, in Brazil, after the convergence of accounting standards with international ones. Methodological limitations persist, including a strong focus on publicly traded companies and low international engagement. The Tax Reform creates a favorable environment for expanding research into topics such as price formation, sectoral impacts, governance, information systems, international taxation, and compliance costs.Contributions: The editorial proposes a research agenda aligned with tax transformations and the needs of accounting and professional practice, reinforcing the role of academia in knowledge development and in strengthening dialogue with the market and society.Objective: To highlight the central elements of the Tax Reform (Complementary Law No. 214 of 2025), identify avenues for research in accounting and taxation, and demonstrate how changes in the Brazilian tax system can guide academic agendas.Method: The study is based on a retrospective of Brazilian and international accounting and taxation research between 1925 and 2025, using data from the Web of Science. A total of 5,592 global and 88 Brazilian articles related to tax avoidance, tax evasion, and tax aggressiveness were mapped. VOSviewer was employed to generate density maps, thematic clusters, and co-authorship networks.Results: The findings show significant growth in taxation research worldwide after 2000 and, in Brazil, after the convergence of accounting standards with international ones. Methodological limitations persist, including a strong focus on publicly traded companies and low international engagement. The Tax Reform creates a favorable environment for expanding research into topics such as price formation, sectoral impacts, governance, information systems, international taxation, and compliance costs.Contributions: The editorial proposes a research agenda aligned with tax transformations and the needs of accounting and professional practice, reinforcing the role of academia in knowledge development and in strengthening dialogue with the market and society
O Perfil Discente e o Desenvolvimento das Habilidades para Empregabilidade em Ambientes de Inovação
No full textObjective: This study aimed to identify the skills required of accountants to work in innovation environments and to compare their predisposition to develop such skills in a multidisciplinary sample of undergraduate students.
Method: Data on desirable skills were collected from job advertisements and through interviews with managers. A questionnaire was applied to collect data on student profiles, yielding 465 responses. The content of the advertisements and the results of the interviews were analyzed using a multiple linear regression model to understand the relationships between students' characteristics and their predisposition to develop the required skills.
Results: The results showed that technology and technology-based companies value a set of skills that can be divided into two main categories: (i) intrapersonal skills, which include dynamism, autonomy, attention to detail, proactivity, resilience, adaptability, and hands-on skills; and (ii) interpersonal skills, which include oral and written communication, empathy, and teamwork. The profiles of the students in the sample showed that genders were similarly distributed, the participants were on average 25 years old, and most were white, single, enrolled in evening programs, and had attended less than two years of coursework. The analysis of the relationship between student profiles and predisposition to develop skills revealed that characteristics such as program shift, marital status, gender, extroversion, and sensation function influence this predisposition.
Contributions: This study presents significant contributions, as it fosters debate on teaching with an emphasis on employability skills. Furthermore, by revealing the importance of these skills and providing information to support curriculum development, it aids in training more qualified professionals. For employers, educators, and program coordinators, it can support planning and highlight the need for teaching methods that serve all students in diverse ways.Objetivos: A pesquisa objetivou identificar as habilidades requeridas para contadores atuarem em ambientes de inovação, e analisar a relação entre o perfil discente e a predisposição para o desenvolvimento dessas habilidades.
Método: Os dados sobre as habilidades foram coletados de anúncios de empregos e de entrevistas com gestores. Para os dados sobre o perfil discente, foi aplicado um questionário obtendo 465 respostas. Para as análises foram realizados exames dos conteúdos dos anúncios e dos resultados dos roteiros de entrevistas, e aplicado um modelo de regressão linear múltipla para entender as relações entre as características dos estudantes e a predisposição para o desenvolvimento das habilidades.
Resultados: Os resultados demonstraram que as habilidades mais requeridas são comportamentais (interpessoais e intrapessoais), onde os discentes sinalizaram ter alta predisposição para o desenvolvimento das habilidades intrapessoais. Foi constatado que algumas características dos discentes impactam no nível de predisposição para o desenvolvimento das habilidades, explicando a relação com os perfis estado civil, gênero, turno de curso, atitude extrovertida e função de sensação.
Contribuições: O estudo apresenta contribuições significativas, pois fomenta o debate sobre o ensino com abordagem em habilidades para empregabilidade. Além disso, ao revelar a importância das habilidades e fornecer informações para o desenvolvimento do ensino, a pesquisa contribui para a formação de profissionais mais qualificados. Para empregadores, docentes e coordenadores, pode contribuir para o planejamento e para identificarem a necessidade de métodos de ensino que atenda a todos de diferentes formas.
 
Adoption of emerging technologies in a regulated environment: a study in audit companies: A study in audit companies
No full textObjective:
Analyze the moderation of the environmental context in the relationship between technological and organizational contexts and the adoption of emerging technologies by auditing companies in a regulated environment.
Method
A descriptive study was carried out, through survey research, of a quantitative nature, with the population being audit companies registered with the Securities and Exchange Commission, with a sample of 114 valid responses, through Structural Equation Modeling (PLS -SEM) and moderation using the “product indicator” method.
Results
The findings confirm the basic theory of this investigation, the Technology, Organization and Environment (TOE) structure, demonstrating that the technological, organizational and environmental context of a company influence decisions about the adoption of emerging technologies in auditing firms. Regarding the moderation of the environmental context, the results indicate that coercive and mimetic pressures do not moderate and normative pressure positively moderates the relationship between technological and organizational context and the adoption of new technologies.
Contribution
We highlight the empirical validation of the predictive power of the TOE structure in the adoption of emerging technologies in auditing companies and, in the theoretical field, the advancement and deepening of the discussion of the factors that influence the adoption of new technologies by auditing firms in the Brazilian environment.Objective:
Analyze the moderating role of the environmental context in the relationship between technological and organizational contexts and audit firms’ adoption of emerging technologies in a regulated environment.
Method
This descriptive study was conducted using a quantitative survey. The population consisted of audit firms registered with the Securities and Exchange Commission. A sample of 114 valid responses was obtained. Structural Equation Modeling (PLS-SEM) and moderation analysis using the product indicator method were performed.
Results
The findings confirm the theoretical foundation of this study, the Technology, Organization, and Environment (TOE) framework, demonstrating that a company’s technological, organizational, and environmental contexts influence audit firms’ decisions regarding the adoption of emerging technologies. Concerning the moderating role of the environmental context, the results suggest that coercive and mimetic pressures do not play a moderating role. In contrast, normative pressure positively moderates the relationship between the technological and organizational contexts and the adoption of new technologies.
Contribution
The predictive power of the TOE framework in audit firms’ adoption of emerging technologies was empirically validated. Additionally, in the theoretical field, the study advances the discussion on the factors influencing the adoption of new technologies by audit firms within the Brazilian regulatory environment
The Role Model Educator: Perspectives of Graduate Students in Accountancy
No full textAbstract
Objective: To identify the factors representing the teaching competencies of role model educators in Master’s and Doctoral programs in Accountancy from the perspectives of graduate students.
Method: This descriptive, quantitative study focused on Master’s and Doctoral students enrolled in Accounting programs in Brazil. The sample consisted of 177 students. Descriptive statistics and Exploratory Factor Analysis were used to analyze the data.
Results: Three factors were identified: Factor 1 – (Inter)personal, Institutional, and Didactic-Pedagogical Competencies; Factor 2 – Investigative and Debate Competencies; and Factor 3 – Technological Competencies. While respondents acknowledged the teaching competencies inherent to the educational process, they placed significant value on a role model educator’s personal and human qualities.
Contributions: This study contributes to improving pedagogical and managerial practices in graduate Accounting programs by highlighting the importance of both technical and human competencies in educators, which ultimately influence their performance and the quality of teaching.Abstract
Objective: To identify the factors representing the teaching competencies of role model educators in Master’s and Doctoral programs in Accountancy from the perspectives of graduate students.
Method: This descriptive, quantitative study focused on Master’s and Doctoral students enrolled in Accounting programs in Brazil. The sample consisted of 177 students. Descriptive statistics and Exploratory Factor Analysis were used to analyze the data.
Results: Three factors were identified: Factor 1 – (Inter)personal, Institutional, and Didactic-Pedagogical Competencies; Factor 2 – Investigative and Debate Competencies; and Factor 3 – Technological Competencies. While respondents acknowledged the teaching competencies inherent to the educational process, they placed significant value on a role model educator’s personal and human qualities.
Contributions: This study contributes to improving pedagogical and managerial practices in graduate Accounting programs by highlighting the importance of both technical and human competencies in educators, which ultimately influence their performance and the quality of teaching
Inflação: como o mercado reage diante das diferenças reais e nominais na informação contábil?
No full textObjective: This study investigates how the Brazilian capital market reacts to the difference between disclosed nominal net income and equity and their estimated values, considering an adjustment for publicly available inflation. Because inflation causes reported profits to deviate from companies’ actual performance, accounting quality and comparability are affected, as financial statements reflect transactions from different periods with distinct monetary values.Method: Using a sample of 37 publicly traded companies between 2010 and 2016, investors’ reactions to firms more or less exposed to inflation were assessed based on cumulative abnormal returns obtained through an event-study approach. Regression analyses were performed to examine the relevance of accounting figures.Results: The findings indicate lower cumulative abnormal returns for companies with greater differences between nominal and adjusted values, suggesting that inflation-adjusted accounting figures tend to be more relevant to investors.Contribution: This study advances the literature on the effects of inflation on accounting information and its implications for capital market investors in Brazil. The results highlight that, even in non-hyperinflationary environments like Brazil, accounting figures are not free from inflationary distortions.Objetivo: Este estudo investiga como o mercado de capitais brasileiro reage à diferença entre os lucros e patrimônios líquidos nominais divulgados e seus valores estimados, considerando um ajuste pela inflação publicamente disponível. Com a inflação, o lucro não representa o desempenho real das empresas. Assim, a qualidade e a comparabilidade contábil são afetadas, ao refletir transações de diferentes períodos com valores monetários distintos.
Método: Utilizando uma amostra de 37 empresas de capital aberto entre 2010 e 2016, avaliou-se a reação dos investidores a empresas mais ou menos expostas à inflação, com base nos retornos anormais acumulados, obtidos pelo método de estudo de evento. Análises de regressão foram conduzidas para investigar a relevância dos números contábeis.
Resultados: Os resultados indicam retornos anormais acumulados menores para as empresas com maiores diferenças entre os valores nominais e corrigidos, e sugerem que os números contábeis ajustados pela inflação podem ser mais relevantes para os investidores.
Contribuição: Este estudo contribui com a literatura do efeito inflacionário na contabilidade e suas implicações para os investidores do mercado de capitais no Brasil. Os números contábeis, mesmo em ambientes não hiperinflacionários como o Brasil, não estão livres das distorções inflacionárias