Accounting is a business modeling tool and its evolution presents numerous variations from a global perspective. We often find in the literature numerous interpretations on the conflicts between the unitary shape ofthe U.S. accounting system and the dual nature of the French one. The former is certainly fascinating through its simplicity and functionality, and a convergence trend is observable between North American accounting and itsEuropean Continental counterpart. This convergence is fuelled by contemporary elements such as economic liberalism, stock market financing, the separation of accounting and tax issues, and the rebuttal of the nationalcharts of accounts. Nowadays, information is in the center of finance and accounting systems. Financialinformation is the cornerstone of business relations between the company, on the one hand, and capitalproviders – the banking and market system – on the other. Historically, to ensure an effective wealth creation process, the beginning of the 20th century was characterized by the necessity to separate ownership – assumedby the investors – from control, which lies in the hands of the management. Clearly, this optimization process isamong the corporate governance mechanism, through which the OECD countries are influencing the countriesthat implement models of transition from centrally-planned economy to market economy. The concept ofgovernance is defined as the set of the principles, rules and regulations which govern the duties of the managersin the interest of current and potential investors of those entities. In the larger context of the evolution ofEuropean economies, which are in the middle of a deep financial crisis, the companies in these countries havestarted a search for new models of corporate governance. In this respect, the most viable models haveacknowledged the existence of a network of stakeholders as contributors to the development and success of the enterprise. The evolution of corporate governance is the consequence of major changes at the beginning of the 21st century, in the context of stronger efforts to improve quality of life. Sustainability promotes action on threelevels: economic growth, the conservation of natural resources and social equity. In this context, it is necessary toreformulate the corporate governance principles in a pragmatic manner, given that the success of largeenterprises is significantly influenced by the economic, social and environmental responsibilities of thesecompanies. The present research aims to identify the progress of the reform of corporate governance, in thecontext of the convergence of international accounting standards and the integration of accountability principles.The paper will be based on a mixed research method with critical and qualitative elements.Accounting is a business modeling tool and its evolution presents numerous variations from a global perspective. We often find in the literature numerous interpretations on the conflicts between the unitary shape of the U.S. accounting system and the dual nature of the French one. The former is certainly fascinating through its simplicity and functionality, and a convergence trend is observable between North American accounting and its European Continental counterpart. This convergence is fuelled by contemporary elements such as economic liberalism, stock market financing, the separation of accounting and tax issues, and the rebuttal of the national charts of accounts. Nowadays, information is in the center of finance and accounting systems. Financial information is the cornerstone of business relations between the company, on the one hand, and capital providers – the banking and market system – on the other. Historically, to ensure an effective wealth creation process, the beginning of the 20th century was characterized by the necessity to separate ownership – assumed by the investors – from control, which lies in the hands of the management. Clearly, this optimization process is among the corporate governance mechanism, through which the OECD countries are influencing the countries that implement models of transition from centrally-planned economy to market economy. The concept of governance is defined as the set of the principles, rules and regulations which govern the duties of the managers in the interest of current and potential investors of those entities. In the larger context of the evolution of European economies, which are in the middle of a deep financial crisis, the companies in these countries have started a search for new models of corporate governance. In this respect, the most viable models have acknowledged the existence of a network of stakeholders as contributors to the development and success of the enterprise. The evolution of corporate governance is the consequence of major changes at the beginning of the 21st century, in the context of stronger efforts to improve quality of life. Sustainability promotes action on three levels: economic growth, the conservation of natural resources and social equity. In this context, it is necessary to reformulate the corporate governance principles in a pragmatic manner, given that the success of large enterprises is significantly influenced by the economic, social and environmental responsibilities of these companies. The present research aims to identify the progress of the reform of corporate governance, in the context of the convergence of international accounting standards and the integration of accountability principles. The paper will be based on a mixed research method with critical and qualitative elements. [ABSTRACT FROM AUTHOR]