Keeping the Promise of Global Accounting Standards
In this Policy Brief, PIIE Visiting Fellow Nicolas Véron provides a comprehensive analysis of the strategic challenges facing the attempt to harmonize the world's accounting practices through the global spread of International Financial Reporting Standards (IFRS). After taking stock of the initial successes of IFRS adoption, he identifies unsustainable features in the current governance framework of the IFRS Foundation, the organization that hosts IFRS standard-setting, and advocates reform to make the IFRS Foundation accountable not only to individual governments but also to the global investor community. He also proposes a variety of incentives for individual jurisdictions to converge towards IFRS, as such convergence looks set to be more gradual than had been envisaged by the IFRS Foundation in the past.
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- Huizinga, Harry & Laeven, Luc, 2009.
"Accounting discretion of banks during a financial crisis,"
CEPR Discussion Papers
7381, C.E.P.R. Discussion Papers.
- Huizinga, H.P. & Laeven, L., 2009. "Accounting Discretion of Banks During a Financial Crisis," Discussion Paper 2009-58, Tilburg University, Center for Economic Research.
- Luc Laeven & Harry Huizinga, 2009. "Accounting discretion of banks during a financial crisis," IMF Working Papers 09/207, International Monetary Fund.
- Nicolas VÃ©ron, 2008. "Fair Value Accounting is the Wrong Scapegoat for this Crisis," Accounting in Europe, Taylor & Francis Journals, vol. 5(2), pages 63-69, December.
- 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.
- Christian Laux & Christian Leuz, 2009. "Did Fair-Value Accounting Contribute to the Financial Crisis?," NBER Working Papers 15515, National Bureau of Economic Research, Inc.
- Laux, Christian & Leuz, Christian, 2009. "Did fair-value accounting contribute to the financial crisis?," CFS Working Paper Series 2009/22, Center for Financial Studies (CFS).
- Nicolas Véron, 2008. "Fair value accounting is the wrong scapegoat for this crisis," Policy Contributions 19, Bruegel.
- Nicolas Véron, 2011. "Suggestions for reforming the governance of global accounting standards," Policy Contributions 533, Bruegel.
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