Accountability and conformity analysis of the financial statements of a third sector organization in Florianopolis

Abstract

This research aims to analyze the accountability of the financial statements of a philanthropic organization in Florianópolis (Santa Catarina) covering the period among 2008-2012. The accountability is viewed in accordance with the accounting standards established by the Federal Accounting Council (CFC) for Third Sector Organizations. It is an exploratory, descriptive research with a qualitative approach.  We conducted a survey of the relevant accounting standards to entities of the Third Sector, pointing to specific cases of accountability, a survey of financial statements by the philanthropic entity. We verified the accountability of the following statements: Balance Sheet, Statement of Surplus or Deficit and Statement of Changes in Shareholders' Association. We created a checklist and we found the following percentage of disclosure and compliance: 50% for Balance Sheets; 43% for Statements of Surplus or Deficit, and 100% for the Statements of Changes in Shareholders' Association. This is to say that just one statement was presented in a correct and complete way in the period between 2008 and 2012. The other statements showed a low level of disclosure. It was found, therefore, that the accounting procedures performed by the entity are not in accordance with the accounting standards.