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Keeping the promise of global accounting standards. Bruegel Policy Brief 2011/05, July 2011

Véron, Nicolas. (2011) Keeping the promise of global accounting standards. Bruegel Policy Brief 2011/05, July 2011. [Policy Paper]

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    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 policy instruments. Choices are made more difficult by the absence of relevant precedents for the unique institutional features of the global standard-setting organisation, the IFRS Foundation.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    EU policies and themes > Policies & related activities > economic and financial affairs > financial crisis 2008-on/reforms/economic governance
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Bruegel (Brussels) > Policy Briefs
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 12 Jul 2011 10:28
    Number of Pages: 8
    Last Modified: 12 Jul 2011 10:28
    URI: http://aei.pitt.edu/id/eprint/32157

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