“…Several papers have addressed the issue of accruals quality, as for instance Corea, Guay and Verdi (2008), who verified if the quality of accruals may represent a risky factor, Francis, Lafond, Olsson and Schipper (2005) investigated whether the quality of accruals is a determinant of the cost of capital, Inci, Lee and Suh (2009) examined the nature of the dynamic relationship between earnings and capital investment, Colauto & Beuren (2006) analyzed the influence of accruals in accounting income and the net working capital variance and Coelho & Lopes (2007), who investigated the existence of earnings management and its association with leverage for Brazilian listed firms. Many other papers have discussed the aspects of quality of accounting information and disclosure - Barth, Beaver & Landsman (2001), Bushman & Smith (2001), Dechow & Dichev (2002), Francis, Schipper & Vincent (2003) and Barbosa, Scherer, Scarpin & Murcia (2015) -and their impact on some aspects of firms' performance -Lambert, Leuz & Verrecchia (2007) and Mahmud, Ibrahim & Pok (2009). These discussions are incipient in the world and mainly in Latin American countries.…”