The European Union's Role In International Standards Setting: Will Bumps In The Road To Convergence Affect The SEC's Plans?

ASU Author/Contributor (non-ASU co-authors, if there are any, appear on document)
Dr.. Ken S. Brackney, Professor (Creator)
Appalachian State University (ASU )
Web Site:

Abstract: The move toward accounting harmonization around the standards being developed by the International Accounting Standards Board (IASB). Presently, 65 countries require their listed companies to use the IASB's International Financial Reporting Standards (IFRS). The total approaches 100 when including countries that allow their companies to use IFRSs and counties that require only certain companies to use them. The harmonization movement received a significant boost in 2002 when European Union (EU) adopted a regulation requiring public companies to convert to IFRSs beginning in 2005. The EU now accounts for more than a third of the countries that prescribe application of IASB standards.

Additional Information

Brackney KS, Witmer PR. The European Union’s role in international standards setting: will bumps in the road to convergence affect the SEC’s plans? The CPA Journal. 2005; 75(11). Publisher version of record available at:
Language: English
Date: 2005
Sarbanes-Oxley Act of 2002, United States, Securities and Exchange Commission -- Powers and duties, European Community -- Powers and duties, International Accounting Standards Board -- Powers and duties, Accounting firms -- Laws, regulations and rules

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