TY  - JOUR
AB  - By 2005 the group financial statements of companies listed on a stock exchange in an EU member state must be prepared in accordance with International Accounting Standards (IASs). The adoption of IASs should, inter alia: facilitate the movement of capital; remove barriers to cross‐border trading; permit comparison of company results; and assist the evaluation of managerial and corporate performance. The introduction of IASs will impact, in varying degrees, on companies in all member states. However, the affect of IASs on corporate reporting will be more limited in the UK. The UK's existing corporate reporting framework already has significant similarities with many of the IASs' objectives. But for most other EU countries, the adoption of IASs will cause a significant upheaval in accounting policies and in the preparation of annual financial statements. To be implemented successfully, a significant gulf needs to be bridged between the new reporting policies in the IASs and the high degree of state regulation and legalistically‐driven reporting systems already established in these countries. Overall, the introduction of IASs should bring longer‐term benefits but a number of reporting challenges and even confusion will result in the short‐term.
VL  - 16
IS  - 2
SN  - 0955-534X
DO  - 10.1108/09555340410524247
UR  - https://doi.org/10.1108/09555340410524247
AU  - Stittle John
PY  - 2004
Y1  - 2004/01/01
TI  - The reformation of European corporate reporting: Towards a model of convergence or confusion?
T2  - European Business Review
PB  - Emerald Group Publishing Limited
SP  - 139
EP  - 151
Y2  - 2024/09/19
ER  -