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Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union

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  • Palea, Vera

Abstract

By adopting a political economy perspective to accounting, this paper provides an overall post-implementation assessment of International Financial Reporting Standards (IFRS) adoption relative to the European Union’s (EU’s) fundamental goal of sustainable development. The paper questions the consistency of the International Accounting Standards Board’s business view with the EU’s and provides some critical insights into the potential long-run effects of IFRS on the European economy and society. Therefore, it raises several doubts about unquestioned accounting standardization at a global level and makes some suggestions for future policymaking and research.

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  • Palea, Vera, 2018. "Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union," Accounting forum, Elsevier, vol. 42(3), pages 248-260.
    • Handle: RePEc:eee:accfor:v:42:y:2018:i:3:p:248-260
    DOI: 10.1016/j.accfor.2018.08.001
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    Cited by:

    1. Palea, Vera, 2019. "Accounting for Sustainable Finance: Does Fair value Accounting Fit for Long-term Investing in Equity?," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201912, University of Turin.
    2. Vera Palea, 2021. "Sustainable Development as a Fundamental Goal of the EU and its Implications for Business in Society," Annals of the Fondazione Luigi Einaudi. An Interdisciplinary Journal of Economics, History and Political Science, Fondazione Luigi Einaudi, Torino (Italy), vol. 55(2), pages 225-242, December.
    3. Ana Paula Silva & Alexandra Fontes & Carlos Menezes & Tânia Menezes Montenegro, 2023. "Transitioning to an IFRS-Based Accounting System: Longitudinal Insights from Practitioners in Portugal," Sustainability, MDPI, vol. 15(20), pages 1-21, October.
    4. Agata Mesjasz-Lech & Pál Michelberger, 2019. "Sustainable Waste Logistics and the Development of Trade in Recyclable Raw Materials in Poland and Hungary," Sustainability, MDPI, vol. 11(15), pages 1-17, August.
    5. Thomas Selleslagh & Stefanie Ceustermans & Lara Stas, 2021. "Not All Late Filers Are the Same: Distinguishing between Differences in Filing Behaviour," Sustainability, MDPI, vol. 13(19), pages 1-21, September.

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    More about this item

    Keywords

    Financial reporting; IFRS; European Union; Sustainable development;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M20 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - General
    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines

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