It is a burning memory in Brussels.
In the 2000s, European states 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 way to wisdom and efficiency.
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But it will quickly be criticized.
From a technical point of view, the IFRS seem too oriented towards the financial markets, sources of volatility in the appreciation of listed companies.
On the political side, many voices regret that Europe has renounced any ambition of sovereignty by abandoning a subject as sensitive as its accounting regulations to a private body, the IASB (for International Accounting Standards Board), reputed to be under the influence of large audit firms.
Especially since the Americans, after vague procrastination, do not follow.
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The story, which is already twenty years old, is present in…
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