Adoption of IFRS 15 in Brazilian companies and its consequences on analysts' forecasts

Objective: To verify the relationship between the adoption of IFRS 15 and the forecast of financial analysts for companies listed on the Brazilian stock exchange in the period from 2012 to 2021.Method: The sample included 1,013 observations (firm-year) of non-financial companies listed on the B3 - Brasil, Bolsa, Balcão -, and data collection took place from the availability of forecast information from financial analysts. Data were treated through descriptive analysis, correlation analysis and multiple linear regression to verify the existence of a relationship between the adopted variables.Originality/Relevance: The quality of data provided by companies in their reports influences the forecasts of results made by financial analysts. The implementation of IFRS 15 had impacts on several market sectors. Among the advantages of adopting International Accounting Standards (IFRS), it can be highlighted that the countries that adopt them tend to have clearer accounting information and, consequently, credibility and integration with countries and institutions that apply the same method, such as a common language.Results: Among the results found, the mandatory adoption of the standard variables were related to the quality of profit forecasts. By adopting a progressive variable, the results obtained reveal that in relation to the application of IFRS 15, the more time has passed since the publication of the standard, the less accurate is the forecast made by financial analysts. Thus, the intended objectives of IFRS 15 formulated by the International Accounting Standards Board (IASB) were achieved, presuming the improvement of information asymmetry.Theoretical/methodological/practical contributions: This study contributes academically with the development of the little explored theme, with managers in understanding the applicability of the norm, with analysts in the importance of specializing in sectors and developing expertise, and with the market for the perception of the importance and activities developed by financial analysts.