scholarly journals Impact of the Brazilian Accounting Pronouncements Committee’s New Guideline (OCPC 07) on the downsizing of companies’ Notes

2019 ◽  
Vol 30 (79) ◽  
pp. 58-72
Author(s):  
Edilene Santana Santos ◽  
Laura Calixto ◽  
Maira Ferreira Bispo
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Equivalent Number ◽  
Disclosure Overload ◽  
The Subject ◽  
The Common ◽  
Methodological Approaches ◽  
The Impact ◽  
Big Four ◽  
Unique Study

ABSTRACT This article aims to assess the impact of the New Guideline of the Brazilian Accounting Pronouncements Committee (Comitê de Pronunciamentos Contábeis - OCPC 07) on improving formal features (size, readability, and specificity) of Brazilian companies’ Notes. OCPC 07 is one of the world’s first guidelines issued in response to the current demand for the downsizing of companies’ Notes, which according to standard setters and market agents have become too extensive, thus characterizing a disclosure overload. This is a unique study on the subject. The results suggest the effectiveness, although limited, of the new standard in promoting a departure from the habits of secrecy and formalism rooted in centuries of legal-accounting civil law tradition, and indicate that there is still room for complementary improvement initiatives in the form of incentives for firms and increased enforcement. Three complementary methodological approaches are used: (1) an analysis of both the evolution of note size after OCPC 07 and the factors explaining that size and its variation; (2) an examination of indicators of readability, conciseness, and specificity of the note on accounting policies; and (3) a size comparison of the Notes of Brazilian and British companies, a benchmark of the common law tradition. An average reduction of 10% in Note size was found two years after the introduction of Guideline (Orientação) 07 by the (OCPC 07). This downsizing was not generalized, but instead identified only among firms in the Novo Mercado and among those audited by two of the Big Four. Even in firms that reduced their notes by at least 20%, no significant improvements in readability levels could be perceived, nor in habits of copy-pasting the auditors’ templates, which could signal a focus on firms’ real practices in the note on accounting policies. Brazilian Notes remain far from the benchmark and are still 40% longer than British ones, despite an equivalent number of pages being expected.

La nueva perspectiva de la tutela del error en el moderno derecho de los contratos

2014 ◽  
pp. 863
Author(s):  
Rocío Herrera Blanco
Keyword(s):  
Comparative Study ◽  
Common Law ◽  
Civil Law ◽  
Contract Law ◽  
Civil Code ◽  
European Contract ◽  
Legal Effect ◽  
The Common ◽  
The Impact ◽  
European Contract Law

Premio de artículos jurídicos «GARCÍA GOYENA» (Curso 2013-2014). Primer accésit Todos los ordenamientos jurídicos europeos prevén normas relativas a la ineficacia de los contratos por vicios del consentimiento, sin embargo, existen entre ellos diferencias bastante significativas, especialmente cuando se comparan el Common Law y los derechos continentales. El presente estudio comparado parte del tratamiento de esta cuestión en la regulación española y se centra en las propuestas que el moderno Derecho de la contratación proporciona en materia de vicios del consentimiento, con particular atención a la figura del error, así como en el Derecho anglosajón, por su eventual influencia en la regulación de estos instrumentos. De manera muy amplia, podríamos decir que el Common Law enfatiza la seguridad de las transacciones, mientras que los sistemas del Civil Law, quizás todavía marcados por las huellas de las llamadas teorías voluntaristas, son más transigentes en permitir la ineficacia de los contratos por defectos del consentimiento. Partiendo de esta premisa, intentaremos evidenciar que las soluciones brindadas por el Derecho anglosajón y los diferentes instrumentos de unificación para la determinación de los efectos jurídicos del error son muy similares. Asimismo, en este trabajo se defiende la tesis de la obsolescencia del Código Civil español en esta materia, y la consecuente necesidad de adaptación del mismo a la actual realidad social, a través de un propósito de homogeneización del Derecho contractual europeo. Para ello, igualmente estudiaremos la Propuesta de modernización del Código civil en materia de obligaciones y contratos, cuya regulación del error, en particular, merece ser objeto de estudio y confrontación de ideas.The legal systems of all european countries provide rules regarding the inefficacy of contracts due to defects of consent, however, there are very significant differences between them, with the deepest differences when Common law and continental systems are contrasted. The present comparative study focuses on the proposals that the modern contract law (PECL, Unidroit Principles, DCFR, CESL) provides with regard to defects of consent and, particularly, to the doctrine of mistake, as well as the Common law for its eventual influence on the regulation of these projects. Very generally, we could say that Common Law emphasizes the security of transactions, while Civil law systems, perhaps still under the impact of the eroded voluntarist theories, are more generous in allowing the inefficacy of contracts due to defects consent. Given these premises, we will try to evidence that the solutions provided by the Common law and the different unifying instruments in order to determinate the legal effect of the defects of consent are very similar. Furthermore, this survey defends the thesis of obsolescence of the spanish Civil Code respecting defects of consent, and the ensuing need for adapting it to the current social reality through a purpose of homogenization of european contract law. Due to this fact, we will also study the Proposal for the modernization of the Civil Code on obligations and contracts, whose regulation of defects of consent, particularly, diserves to be analyzed.

Patrimony not Equity: The Trust in Scotland

2015 ◽  
Author(s):  
Kenneth G C Reid
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Special Place ◽  
Beneficial Ownership ◽  
Separate System ◽  
The Common ◽  
The Law ◽  
The Impact ◽  
Mixed Systems

This chapter examines the importance of patrimony as an organising principle of trust in the absence of equity. The law of property in Scotland and other mixed jurisdictions is always civilian; like civil law countries, they do not have a separate system of equity, or acknowledge the distinction between legal and beneficial ownership; and yet all mixed systems have the trust. In addition to the common law trust, there is the civil law trust. Of the civil law trusts, a special place may be claimed for the Scottish trust, the oldest such trust by far and one of the most widely used in practice. The chapter first considers trusts in relation to contracts and real rights before discussing the two patrimonies of a trustee: a private patrimony and a trust patrimony. It also assesses the impact of a trustee's death on the integrity of patrimony, along with the rights of trustees and trust beneficiaries.

scholarly journals A comparative assessment of the agency concept, with special regard to the Romanian approach

2021 ◽  
Vol 2 (11) ◽  
Author(s):  
SCHIAU Ioan
Keyword(s):  
International Trade ◽  
Common Law ◽  
Civil Law ◽  
Comparative Assessment ◽  
Law System ◽  
The Subject ◽  
Modern Context ◽  
The Common ◽  
Civil Law System ◽  
Initial Concept

The concept of agency was developed and refined in the common law system and, thereafter, imported in the continental civil law system where was confronted with the classic institution of the mandate, based on the representation principle. The modern context of the commerce globalisation and the need to assimilate legal instruments that are often used in the international trade, determined the global and European lawmakers to seek a proper harmonised regulation for the agency contract. Romania produced a first regulation of agency through Law 509/2002 regarding the permanent commercial agents and, thereafter,continued the process through the incorporation of the subject in the Civil Code. This paper examines the conformity of the European and Romanian regulations regarding the agency with the initial concept that, purportedly, inspired the afore said lawmakers.

scholarly journals O INCIDENTE DE RESOLUÇÃO DE DEMANDAS REPETITIVAS NO CONTEXTO DO SISTEMA DE PRECEDENTES: ANÁLISE CRÍTICA DO FENÔMENO DA "COMMONLAWLIZAÇÃO" DO DIREITO BRASILEIRO

2019 ◽  
Vol 16 (3) ◽  
pp. 200
Author(s):  
Gabriel Joner ◽  
Jesser Rodrigues Borges
Keyword(s):  
Critical Analysis ◽  
Common Law ◽  
Civil Law ◽  
Civil Procedure ◽  
Point Of View ◽  
Legal Certainty ◽  
Procedure Code ◽  
Foreign Law ◽  
The Subject ◽  
The Common

RESUMOO presente estudo tem por objetivo, sem a pretensão de esgotar o tema, analisar o Incidente de Resolução de Demandas Repetitivas, incluído pelo Novo Código de Processo Civil de 2015, sob a ótica do denominado sistema de precedentes e, ao final, propor uma análise crítica acerca da possível “commonlawlização” do direito brasileiro. Para tanto, buscou-se breves considerações históricas acerca dos institutos da common law e da civil law, na sequência, analisou-se tais institutos sob a ótica do Código de Processo Civil de 1973 e, ao final, a sua sistematização a partir do Novo Código de Processo Civil. Os mecanismos incorporados pelo Novo Código visam a amenizar a problemática atualmente enfrentada pelo Poder Judiciário, com o objetivo de proporcionar celeridade processual e segurança jurídica. Por fim, analisa-se o Incidente de Resolução de Demandas Repetitivas, propondo uma leitura crítica do fenômeno da “commonlawlização” do direito brasileiro, apontando a necessidade de cautela em relação aos mecanismos importados do direito estrangeiro, em especial, ao Incidente de Resolução de Demandas Repetitivas, a fim de dar-lhes uma leitura conforme a Constituição Federal.Palavras-chave: Novo Código de Processo Civil. Sistema de Precedentes. Common law. Civil law. Incidente de Resolução de Demandas Repetitivas. ABSTRACTThe purpose of this study, without the pretension of exhausting the subject, is to analyze the Incident for Resolution of Repetitive Claims, included in the New Civil Procedure Code of 2015, under the perspective of the denominated precedents system and, at the end, to propose a critical analysis about the possible “communalization” of Brazilian law. ¬¬¬¬Therefore, short historical considerations were sought on the common law and civil law institutes, followed by an analysis of these institutes from the point of view of the Code of Civil Procedure of 1973 and, finally, their systematization based on the New Code of Civil Procedure. The mechanisms incorporated by the New Code aim to alleviate the problems currently faced by the Judiciary, with the objective of providing procedural expediency and legal certainty. At the end, the Repetitive Demand Incident Incident is analyzed, proposing a critical reading of the phenomenon of “commonlization” of Brazilian law, pointing out the need for caution in relation to the mechanisms imported from foreign law, especially to the Incident of Resolution of Demands Repetitive, in order to give them a reading according to the Federal Constitution.Keywords: New Civil Procedure Code. Precedents System. Common law. Civil law. Incident for Resolution of Repetitive Claims.

Is Style of Reasoning a Fundamental Difference Between the Common Law and the Civil Law?

2017 ◽  
Vol 17 (2) ◽  
pp. 238-290
Author(s):  
Colm Peter McGrath ◽  
◽  
Helmut Koziol ◽  
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Fundamental Difference ◽  
The Common

The Impact of Quantitative Easing on Emerging Markets – Literature Review

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 67-76
Author(s):  
Piotr Bartkiewicz
Keyword(s):  
Emerging Markets ◽  
Large Scale ◽  
Empirical Literature ◽  
Quantitative Easing ◽  
Methodological Choices ◽  
The Subject ◽  
Methodological Approaches ◽  
The Impact ◽  
Sufficient Precision

AbstractThe article presents the results of the review of the empirical literature regarding the impact of quantitative easing (QE) on emerging markets (EMs). The subject is of interest to policymakers and researchers due to the increasingly larger role of EMs in the world economy and the large-scale capital flows occurring after 2009. The review is conducted in a systematic manner and takes into consideration different methodological choices, samples and measurement issues. The paper puts the summarized results in the context of transmission channels identified in the literature. There are few distinct methodological approaches present in the literature. While there is a consensus regarding the direction of the impact of QE on EMs, its size and durability have not yet been assessed with sufficient precision. In addition, there are clear gaps in the empirical findings, not least related to relative underrepresentation of the CEE region (in particular, Poland).

The Common Law in Australia: Its Nature and Constitutional Significance

2004 ◽  
Vol 32 (3) ◽  
pp. 337-355 ◽  
Author(s):  
Leslie Zines
Keyword(s):  
Public Policy ◽  
Common Law ◽  
Public Law ◽  
Federal Law ◽  
Contemporary Debate ◽  
Policy Paper ◽  
Law And Policy ◽  
National University ◽  
The Subject ◽  
The Common

This article originally was published as a Law and Policy Paper. The Law and Policy Papers series was established in 1994 by the Centre for International and Public Law in the Faculty of Law, the Australian National University. The series publishes papers contributing to understanding and discussion on matters relating to law and public policy, especially those that are the subject of contemporary debate. In 1999 the papers were published jointly by the Centre for International and Public Law and The Federation Press. This article is reproduced in the Federal Law Review with the permission of the original publishers.

The Trade Mark, Other Product Designations, and Goodwill

2017 ◽  
Author(s):  
Justine Pila
Keyword(s):  
Subject Matter ◽  
Common Law ◽  
Trade Mark ◽  
Geographical Indication ◽  
Passing Off ◽  
Rights Protection ◽  
Essential Properties ◽  
The Subject ◽  
The Common ◽  
The Relationship

This chapter considers the meaning of the terms that appropriately denote the subject matter protectable by registered trade mark and allied rights, including the common law action of passing off. Drawing on the earlier analyses of the objects protectable by patent and copyright, it defines the trade mark, designation of origin, and geographical indication in their current European and UK conception as hybrid inventions/works in the form of purpose-limited expressive objects. It also considers the relationship between the different requirements for trade mark and allied rights protection, and related principles of entitlement. In its conclusion, the legal understandings of trade mark and allied rights subject matter are presented as answers to the questions identified in Chapter 3 concerning the categories and essential properties of the subject matter in question, their method of individuation, and the relationship between and method of establishing their and their tokens’ existence.

Book Reviews, The Common Law Tort of Defamation, and the Suppression of Scholarly Debate

2010 ◽  
Vol 11 (6) ◽  
pp. 656-670
Author(s):  
Kate Sutherland
Keyword(s):  
Academic Freedom ◽  
Common Law ◽  
Scholarly Work ◽  
Academic Journal ◽  
Canadian Law ◽  
The Common ◽  
The Impact ◽  
Defamation Law

Professor Joseph Weiler will soon stand trial for criminal libel in France for refusing to remove a book review from a website associated with an academic journal for which he serves as editor. His case has disturbing implications for all those who write, edit, and publish critical scholarly work. In this article, I explore those implications for Canadian scholars at home and as members of a global scholarly community. I assess the likelihood of success of a similar complaint under Canadian defamation law, and I consider the impact of libel chill and libel tourism. I conclude that although the defendant in such a case would have a good chance of prevailing under Canadian law through the defense of fair comment, a threat to academic freedom remains that requires action on the part of individuals and institutions committed to its preservation and enhancement.

Classifying precontractual liability: a comparative analysis

Legal Studies ◽  
2001 ◽  
Vol 21 (2) ◽  
pp. 153-191 ◽  
Author(s):  
Joachim Dietrich
Keyword(s):  
Common Law ◽  
Civil Law ◽  
Tort Law ◽  
Contract Law ◽  
Common Elements ◽  
Ongoing Debate ◽  
Unjust Enrichment ◽  
The Common ◽  
Initial Focus

The common law has solved questions of liability arising in the context of precontractual negotiations by resort to a range of different doctrines and approaches, adopting in effect ‘piecemeal’ solutions to questions of precontractual liability. Consequently, debate has arisen as to how best to classify or categorise claims for precontractual work and as to which doctrines are best suited to solving problems arising from anticipated contracts. The purpose of this article is to consider this question of how best to classify (cases of) precontractual liability. The initial focus will be on the ongoing debate as to whether principles of contract law or principles of unjust enrichment can better solve problems of precontractual liability. I will be suggesting that unjust enrichment theory offers little by way of explanation of cases of precontractual liability and, indeed, draws on principles of contract law in determining questions of liability for precontractual services rendered, though it does so by formulating those principles under different guises. Irrespective, however, of the doctrines utilised by the common law to impose liability, it is possible to identify a number of common elements unifying all cases of precontractual liability. In identifying such common elements of liability, it is necessary to draw on principles of both contract and tort law. How, then, should cases of precontractual liability best be classified? A consideration of the issue of classification of precontractual liability from a perspective of German civil law will demonstrate that a better understanding of cases of precontractual liability will be gained by classifying such cases as lying between the existing categories of contract and tort.

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