Financial reporting for sustainable development: Critical insights into IFRS implementation in the European Union |
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Authors: | Vera Palea |
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Institution: | University of Torino, Department of Economics and Statistics ‘Cognetti de Martiis’, Campus Luigi Einaudi, Lungo Dora Siena 100/A, Italy |
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Abstract: | By adopting a political economy perspective to accounting, this paper provides an overall post-implementation assessment of International Financial Reporting Standards (IFRS) adoption relative to the European Union’s (EU’s) fundamental goal of sustainable development. The paper questions the consistency of the International Accounting Standards Board’s business view with the EU’s and provides some critical insights into the potential long-run effects of IFRS on the European economy and society. Therefore, it raises several doubts about unquestioned accounting standardization at a global level and makes some suggestions for future policymaking and research. |
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Keywords: | M41 accounting M20 business economics A12 relation of economics to other disciplines Financial reporting IFRS European Union Sustainable development |
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