Regional REPARIS Financial Reporting Community of Practice
Accounting and financial reporting Reporting for national statistics Reporting to capital markets Accounting Reporting for...
Influences on accounting and financial reporting <ul><li>Accounting law and chart of accounts </li></ul><ul><li>Tax requir...
Finding the right approach <ul><li>Which entities should be required or allowed to use </li></ul><ul><ul><li>tax reporting...
Finding the right approach <ul><li>Which entities should be required or allowed to use </li></ul><ul><ul><li>tax reporting...
Bridging the needs of different users Financial  reporting Investors and creditors in capital markets Lending banks Nation...
Vision <ul><ul><li>Business entities should prepare high quality financial statements that meet the needs of a range of di...
Regional REPARIS Financial Reporting Community of Practice
Regional REPARIS Financial Reporting Community of Practice
Upcoming SlideShare
Loading in …5
×

Regulation of Financial Reporting & Auditing

3,424 views

Published on

Regional Reparis by David Cairns

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
3,424
On SlideShare
0
From Embeds
0
Number of Embeds
11
Actions
Shares
0
Downloads
24
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Regulation of Financial Reporting & Auditing

  1. 1. Regional REPARIS Financial Reporting Community of Practice
  2. 2. Accounting and financial reporting Reporting for national statistics Reporting to capital markets Accounting Reporting for prudential regulation Reporting to lending banks Reporting for taxation purposes
  3. 3. Influences on accounting and financial reporting <ul><li>Accounting law and chart of accounts </li></ul><ul><li>Tax requirements </li></ul><ul><li>Company law </li></ul><ul><ul><li>developed nationally </li></ul></ul><ul><ul><li>based on EC Directives </li></ul></ul><ul><li>Accounting standards </li></ul><ul><ul><li>developed nationally </li></ul></ul><ul><ul><li>based on (simplified) IFRS </li></ul></ul><ul><ul><li>IFRS </li></ul></ul><ul><ul><li>IFRS for SMEs </li></ul></ul>
  4. 4. Finding the right approach <ul><li>Which entities should be required or allowed to use </li></ul><ul><ul><li>tax reporting only? </li></ul></ul><ul><ul><li>company law only? </li></ul></ul>
  5. 5. Finding the right approach <ul><li>Which entities should be required or allowed to use </li></ul><ul><ul><li>tax reporting only? </li></ul></ul><ul><ul><li>company law only? </li></ul></ul><ul><li>Which entities should be required or allowed to use company law plus </li></ul><ul><ul><li>national standards? </li></ul></ul><ul><ul><li>EC Directives? </li></ul></ul><ul><ul><li>IFRS for SMEs? </li></ul></ul><ul><ul><li>full IFRS? </li></ul></ul>
  6. 6. Bridging the needs of different users Financial reporting Investors and creditors in capital markets Lending banks National statisticians Prudential regulators Tax authorities Public interest
  7. 7. Vision <ul><ul><li>Business entities should prepare high quality financial statements that meet the needs of a range of different users </li></ul></ul><ul><ul><li>Financial reporting requirements should </li></ul></ul><ul><ul><ul><li>comply with EU acquis communautaire </li></ul></ul></ul><ul><ul><ul><li>reflect nature, size and financing of entities </li></ul></ul></ul><ul><ul><ul><li>reflect the costs and benefits to entities and users </li></ul></ul></ul><ul><ul><ul><li>bridge the needs of different users </li></ul></ul></ul>
  8. 8. Regional REPARIS Financial Reporting Community of Practice
  9. 9. Regional REPARIS Financial Reporting Community of Practice

×