It is a vivid memory in Brussels. In the 2000s, European nations decided to harmonize their accounting standards by adopting international rules called IFRS (for International Financial Reporting Standards). This choice, which avoids favoring one national system over another, seems to represent the path of wisdom and efficiency.
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But it will be criticized quickly. From a technical point of view, IFRS seem too oriented towards financial markets, which are the sources of volatility in the valuation of listed companies. On the political side, many voices regret that Europe has given up any pretense of sovereignty by leaving such a sensitive subject of its accounting regulations to a private body, the IASB (International Accounting Standards Board), known for its major audit influence. firms. Especially since the Americans, after indefinite delays, are not following.
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Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.