[Resolves according to the official BRICS website
http://infobrics.org/] -this is not the official BRICS website. my bad
Resolves according to the last indisputably official 'BRICS' statement that can be found at closure, in the intended spirit of the market, bearing in mind the below clarifications.
Important resolution point:
If before 2027, BRICS changes its name to a new acronym referring to all members, but then subsequently more countries join and the acronym is out of date at time of resolution, this question will still resolve to #2, an acronym of all the member states' names. It will do so even if there is no stated intent to further update the name (unsatisfying, but clarity is better than nuance here).
If a new acronym doesn't follow the pattern of using the first letter from each country's name, but uses some other system to include every member, #2 will still apply. It will even apply if most people think the acronym doesn't really work, as long as BRICS themselves say that it does work.