analyzed the Brazilian financial st

analyzed the Brazilian financial statements from 2008 of the Hybrid Period to evaluate the adaptation level to IFRS of the information disclosed in the Brazilian and North-American markets. The authors detected a higher convergence level between USGAAP (Generally Accepted Accounting Principles in the United States) and IFRS than between BRGAAP and IFRS, which suggests that the Brazilian financial statements tend to substantially could be modified, increasing the disclosure level.