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Keeping the promise of global accounting standards

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  • Nicolas Véron

Abstract

Accounting provides a fundamental underpinning for capital markets, and the worldwide spread of International Financial Reporting Standards (IFRS) marks one of the most advanced attempts to develop globally consistent financial rules. The financial crisis has generated heated debate on the economic role of fair-value accounting and other IFRS principles. Underlying these controversies are differing views about the mission and governance of accounting standard-setters, and how standards interact with other public...

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  • Nicolas Véron, 2011. "Keeping the promise of global accounting standards," Policy Briefs 575, Bruegel.
    • Handle: RePEc:bre:polbrf:575
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    References listed on IDEAS

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    1. Nicolas Véron, 2008. "Fair value accounting is the wrong scapegoat for this crisis," Policy Contributions 19, Bruegel.
    2. Huizinga, H.P. & Laeven, L., 2009. "Accounting Discretion of Banks During a Financial Crisis," Other publications TiSEM b94d0405-1ced-4aa4-870b-2, Tilburg University, School of Economics and Management.
    3. Nicolas Véron, 2008. "Fair Value Accounting is the Wrong Scapegoat for this Crisis," Accounting in Europe, Taylor & Francis Journals, vol. 5(2), pages 63-69, December.
    4. Christian Laux & Christian Leuz, 2010. "Did Fair-Value Accounting Contribute to the Financial Crisis?," Journal of Economic Perspectives, American Economic Association, vol. 24(1), pages 93-118, Winter.
    5. Nicolas Véron, 2011. "Suggestions for reforming the governance of global accounting standards," Policy Contributions 533, Bruegel.
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