A Climate of Convergence: Europe’s Road to Global Reporting Standards

Sponsored By CFO Europe Research Services

Topics:

Accounting > Accounting Standards

Compliance & Governance

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Abstract:

Is Europe having second thoughts about IFRS? This study conducted in June 2008 by CFO Research Services for ACCA, the global body for professional accountants, polled 126 executives whose principal reporting obligations for their company lie in Europe, as part of a survey of 792 senior executives around the world. Our findings indicate that, despite the reservations, chief financial officers, financial controllers, chief accountants and other executives in Europe still believe that global financial standards are good for their company, three years after their adoption by the European Union and other jurisdictions in Europe.

Seventy eight percent say so, which is higher than the 67 percent of executives surveyed in Asia and the United States who share this opinion.

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