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IFRS Due Process as an Inspiration for Legislative Process of Developing the Czech Accounting Legislation
[Schvalovací proces IFRS jako inspirace pro legislativní proces tvorby českých účetních předpisů]

Author

Listed:
  • Mariana Valášková

Abstract

The paper outlines the influence and impact of IFRS on accounting regulation in Czech Republic. The core of the paper is comparison of IFRS due process with legislative process of developing the Czech accounting legislation. The comparison of both of the processes enables to identify the weaknesses of Czech due process and provides specific recommendations for its improvement and increase efficiency. From the perspective of nature of accounting regulation the delegation of certain part of the developing accounting rules from the state to the accounting profession is important especially to strengthen the quality, understanding and acceptance of accounting rules, which can be effectively ensured through the due process different from that legislative. Inspiration can be found in the IFRS due process.

Suggested Citation

  • Mariana Valášková, 2014. "IFRS Due Process as an Inspiration for Legislative Process of Developing the Czech Accounting Legislation [Schvalovací proces IFRS jako inspirace pro legislativní proces tvorby českých účetních pře," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2014(4), pages 106-119.
    • Handle: RePEc:prg:jnlcfu:v:2014:y:2014:i:4:id:427:p:106-119
    DOI: 10.18267/j.cfuc.427
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    References listed on IDEAS

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    1. Ann Jorissen & Nadine Lybaert & Raf Orens & Leo Van Der Tas, 2012. "Formal Participation in the IASB's Due Process of Standard Setting: A Multi-issue/Multi-period Analysis," European Accounting Review, Taylor & Francis Journals, vol. 21(4), pages 693-729, December.
    2. Geoffrey Whittington, 2005. "The adoption of International Accounting Standards in the European Union," European Accounting Review, Taylor & Francis Journals, vol. 14(1), pages 127-153.
    3. Begoña Giner & Miguel Arce, 2012. "Lobbying on Accounting Standards: Evidence from IFRS 2 on Share-Based Payments," European Accounting Review, Taylor & Francis Journals, vol. 21(4), pages 655-691, December.
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    More about this item

    Keywords

    IFRS; Due process; Legislative process; Ministry of Finance; Comparison; Schvalovací proces; Legislativní proces; Ministerstvo financí; Srovnání;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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