Back to Search Start Over

Evolutions of Accounting Standardization: The Shock of Financialization and Globalization

Evolutions of Accounting Standardization: The Shock of Financialization and Globalization

Authors :
Alain Burlaud
Conservatoire National des Arts et Métiers [CNAM] (CNAM)
Laboratoire interdisciplinaire de recherche en sciences de l'action (LIRSA)
HESAM Université (HESAM)
HESAM Université (HESAM)-HESAM Université (HESAM)
Source :
Audit Financiar, Audit Financiar, Chamber of Financial Auditors, Romania, 2020, 18 (158), pp.323-338. ⟨10.20869/AUDITF/2020/158/008⟩
Publication Year :
2020
Publisher :
HAL CCSD, 2020.

Abstract

International audience; Accounting is a mirror of society and therefore reflects the shock of the financialization and globalization of the economy. From 1970 to 2000, international accounting standards were based on three standards: the American, which, like the dollar, could in fact become hegemonic, European and global but of private origin, the IASC. In the 2000s, the IASB, which succeeded the IASC, asserted its power, especially with the adoption of its standards, IFRS, by the European Union. After this victory, the IASB now faces two new challenges: how to develop global standards for SMEs when they do not have access to the capital market; how to account for the non-financial dimensions of corporate performance when all dimensions are interdependent and, beyond investors, of interest to all stakeholders.

Details

Language :
English
ISSN :
15835812 and 18448801
Database :
OpenAIRE
Journal :
Audit Financiar, Audit Financiar, Chamber of Financial Auditors, Romania, 2020, 18 (158), pp.323-338. ⟨10.20869/AUDITF/2020/158/008⟩
Accession number :
edsair.doi.dedup.....9d9da1fb48c3b61bc7a75d9368e28f48
Full Text :
https://doi.org/10.20869/AUDITF/2020/158/008⟩