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Accounting standards that appeal to the professional

Author

Listed:
  • Alain BURLAUD

    (Conservatoire national des arts et métiers (Cnam), Paris)

  • Maria NICULESCU

    (Ecole Supérieure de la Francophonie pour l’Administration et le Management (ESFAM), Sofia)

Abstract

The international accounting standards (IFRSs and ISAs) rely increasingly more on the “professional judgment”. What is the situation in France and in Romania? After the conceptual clarifications, the article places the evolution of the professional judgment in the general movement of the law, which goes from “modernism” to “post-modernism” to become a law of specialists able to have a qualified opinion on highly technical subjects. In order to observe, in a scientific manner, this evolution of the accounting standards, we conducted a content analysis of principal legislative accounting texts, international and national (France and Romania), supplemented by a lexicometric analysis. These analyses allowed us to conclude that the importance of professional judgment in accounting standards is lower at the national level than it is at the international level. However, we highlight a number of dangers related to an increased use of professional judgment: loss of comparability and transparency, increased risks for accounting professionals including auditors, and significant discrepancies in the use of professional judgment in individual or consolidated accounts

Suggested Citation

  • Alain BURLAUD & Maria NICULESCU, 2016. "Accounting standards that appeal to the professional," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(144), pages 1325-1325.
    • Handle: RePEc:aud:audfin:v:14:y:2016:i:144:p:1325
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    References listed on IDEAS

    as
    1. Tanja Lakovic & Jayne Fuglister, 2013. "The International Accounting Standards Board’s Progress in Promoting Judgement Through Objectives-Oriented Accounting Standards," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 3(7), pages 28-42, July.
    2. Alain Burlaud & Bernard Colasse, 2011. "Réponse aux commentaires sur « Normalisation comptable internationale : le retour du politique ? »," Comptabilité - Contrôle - Audit, Association francophone de comptabilité, vol. 17(3), pages 115-128.
    3. Alain Burlaud & Bernard Colasse, 2011. "Réponse aux commentaires sur "Normalisation comptable internationale : le retour du politique?"," Post-Print halshs-00665338, HAL.
    4. repec:dau:papers:123456789/5802 is not listed on IDEAS
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    More about this item

    Keywords

    Professional judgment; accounting standards; accounting law; modern law; postmodern law.;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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