An evaluation of the International Accounting Standards (IAS) Regulation to be discussed

More than 10 years after adoption of the Regulation on the application of international accounting standards the EC has evaluated its impact in the EU in view of its initial objectives. The EC’s evaluation report will be presented for the first time at the international conference in Riga.

According to experts, international accounting standards are more than generally accepted provisions. They can impact the stability of financial markets which can be changed by the actions of the market participants – developers and users of financial statements.

In three sessions of the conference participants will discuss the evaluation of the Regulation on the application of international accounting standards, implementation of the recommendation of Philippe Maystadt on reforms of the European Financial Reporting Advisory Group (EFRAG), and future perspectives of the global quality standards and the ways they could be reached.

The conference will gather European accounting policy-makers, setters of national standards, leaders of international and European organisations, academics and the industry representatives. It should be emphasized in particular that representatives of the most influential standard setting organisations will also participate in the third session of the conference: the Chairman of the International Accounting Standards Committee Foundation Mr Michel Prada, the Chairman of the US Financial Accounting Standards Board Mr Russ Golden and the Chairman of the Accounting Standards Board of Japan Mr Yukio Ono.