A commentary on issues relating to the enforcement of International Financial Reporting Standards in the EU
AbstractThe adoption of International Financial Reporting Standards (IFRS) is supported in many countries because it may improve the quality and international comparability of financial reporting. However, these goals are less likely to be achieved without regulatory oversight that promotes rigorous and consistent use of IFRS. Consequently the European Union (EU) is requiring all member states to introduce enforcement bodies by 2005, the date of IFRS adoption in the consolidated financial statements of all EU listed companies. We review ongoing activities in France, Germany, the Netherlands and the UK in setting up and modifying enforcement bodies before 2005. We test current developments against the Federation des Experts Comptables Europeens (FEE) (2002) recommendations and against the principles for effective enforcement proposed in CESR Standard No. 1 on Financial Information. We present the views of people involved in financial reporting standard setting and enforcement from these countries, as well as the IASB, FEE and EFRAG, about the challenges of achieving effective uniform enforcement. Our paper will be of interest to people developing or participating in enforcement bodies, and to capital market participants who will be subject to the various regulatory regimes.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal European Accounting Review.
Volume (Year): 14 (2005)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.tandfonline.com/REAR20
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Samir Ayoub & Keith Hooper, 2009. "Les freins culturels à l'adoption des IFRS en Europe : une analyse du cas français," Post-Print halshs-00456196, HAL.
- Gabriele Guggiola, 2010. "IFRS Adoption in the E.U., accounting harmonization and market efficiency: a review," Economics and Quantitative Methods qf1002, Department of Economics, University of Insubria.
- Jannis Bischof & Ulf Brüggemann & Holger Daske, 2012. "Fair Value Reclassifications of Financial Assets during the Financial Crisis," SFB 649 Discussion Papers SFB649DP2012-010, Sonderforschungsbereich 649, Humboldt University, Berlin, Germany.
- Cabán-García, María T., 2009. "The impact of securities regulation on the earnings properties of European cross-listed firms," The International Journal of Accounting, Elsevier, vol. 44(3), pages 279-304, September.
- Jirí Strouhal & Petra Ždárská, 2008. "Comparison of the requirements for reporting of listed and non-listed companies: some issues from the Czech Republic," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 55, pages 143-153, November.
- Phu Dao-Le Flecher, 2007. "Contrôle de la conformité de l'information financière des sociétés cotées aux normes comptables par l'AMF en France : Analyse comparative avec deux modèles anglo-américains (la SEC et le FRRP)," Post-Print halshs-00543229, HAL.
- Hodgdon, Christopher & Tondkar, Rasoul H. & Adhikari, Ajay & Harless, David W., 2009. "Compliance with International Financial Reporting Standards and auditor choice: New evidence on the importance of the statutory audit," The International Journal of Accounting, Elsevier, vol. 44(1), pages 33-55, March.
- Holm, Claus & Schøler, Finn & Lønne, Henrik & Maingot, Michael, 2009. "A Study of the Adoption and Implementation of International Financial Reporting Standards in the Two EU Countries of Denmark and Ireland and New Zealand, a Non EU Country," Accounting Research Center Working Papers A-2009-01, University of Aarhus, Aarhus School of Business, Department of Business Studies.
- Jaroslava Roubíčková, 2007. "The Adoption of IAS in Europe," Český finanční a účetní časopis, University of Economics, Prague, vol. 2007(2), pages 79-81.
- Al-Shammari, Bader & Brown, Philip & Tarca, Ann, 2008. "An investigation of compliance with international accounting standards by listed companies in the Gulf Co-Operation Council member states," The International Journal of Accounting, Elsevier, vol. 43(4), pages 425-447, December.
- Jonas MACKEVICIUS & Jiří Strouhal & Svetlana ZVEROVICH, 2008. "Comparative Analysis of the National Accounting Standards of the Czech Republic and Lithuania," European Financial and Accounting Journal, University of Economics, Prague, vol. 2008(4), pages 22-44.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.