9 April 2001

Modernisation of the Accounting Directives

The Discussion Paper addresses the various ways to modernise the Accounting Directives. It discusses both the strategic and technical issues that are at stake and gives the advantages and disadvantages of the various approaches. The approaches discussed are:

– scoping out companies applying IAS from the Accounting Directives and transferring them to a capital market regime
– a high level version of the Accounting Directives for companies applying IAS including only issues that are not dealt with in IAS
– minimum changes required to remove present incompatibilities and to allow national GAAP to converge to IAS
– full modernisation of the Accounting Directives.

FEE continues to hold the view that the preferred solution would be to exempt listed and other companies applying IAS from the Accounting Directives and to transfer them to a separate capital market regime. However, if such an approach to scope out companies applying IAS from the Directives, e.g. for legal reasons, were not possible, FEE’s preferred way to modernise the Accounting Directives would be the introduction of a “high level” version of the existing Directives with only issues that are not dealt with in IAS.

Position Paper


Related content

Stories from PracticeDigitalising the accountancy profession: what role for young professionals?

31 May 2021

NewsVAT Talks: digitalisation, accountants’ role and the growing importance of tax

2 March 2021

Publication10 most popular publications in 2020

2 February 2021

Consultation responseIAASB’s discussion paper on fraud and going concern

2 February 2021

Consultation responseEFRAG’s Invitation to comment on EFRAG’s assessment on IFRS 17 Insurance Contracts as amended in...

28 January 2021

Consultation responseIASB’s discussion paper on business combination – disclosures, goodwill & impairment and EFRAG’s draft comment...

30 November 2020

Consultation responseIASB’s Exposure Draft – General Presentation and Disclosures (Primary Financial Statements) & EFRAG’s draft comment...

28 July 2020

Consultation responseEC’s consultation on the renewed sustainable finance strategy

15 July 2020

PublicationHow is access to the European accountancy profession regulated?

7 July 2020

Consultation responsePreliminary consideration on interaction between IFRS 9 Hedge Accounting and IFRS 17 Insurance Contracts

23 April 2020

PublicationCoronavirus crisis: country responses to the implications on reporting

10 April 2020

Podcast Accountants helping SMEs during coronavirus

9 April 2020

Stories from PracticeDeveloping a values-driven workplace in Romania

6 January 2020

NewsDigital Day 2019 – Interviews

29 November 2019

Consultation responseIESBA Exposure Draft on Proposed Revisions to the Code to Promote the Role and Mindset

4 November 2019

Consultation responseIASB’s exposure draft on proposed amendments to IFRS 17 and EFRAG’s draft comment letter thereon

4 October 2019

Team memberJona Basha

9 September 2019

Stories from practiceAn external CFO supports SME growth

9 September 2019

Consultation responseEFRAG’s questionnaire on equity instruments – research on measurement

22 July 2019

Consultation responseIFRS Foundation’s Exposure Draft on proposed amendments to the Due Process Handbook and EFRAG’s Draft...

16 July 2019

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?