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Challenges Facing the Implementation of International Financial Reporting Standards

28 Oct 2011

London, UK

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The ICFR held a Breakfast Briefing on 28 October 2011 with Nicolas Véron, Senior Fellow at Bruegel. The recent financial crisis has brought into question a whole range of issues surrounding the provision and quality of key data used by the financial industry and the regulators. A central element of this is the economic role of fair-value accounting and other IFRS principles. Accounting standards govern the preparation of financial statements by companies, and as such play a key role in the proper functioning of capital markets. Mr Véron discussed some of the national and international political challenges facing the implementation of IFRS, as well as presented a number of proposals for the next steps of global convergence. 

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