The current study seeks to examine the impact national interpretational of international standards has had on the comparability of accounting and reporting systems of EU member states. From a comparative aspect, the accounting framework as it exists in the UK, Germany, France and Poland have been chosen.
A major challenge to the international harmonisation of
accounting practices is the impact different national
legislation and interpretation of standards has on current
standars (Nobes and Parker 2012). The objective of
accounting and reporting harmonisation is reliant on the
adoption and implementation of internationally agreed
standards set by the IFRS, whose “primary mission is to
develop a single set of high quality, understandable,
enforceable and globally accepted International Financial
based upon clearly articulated principles” (IFRS 2012,
n.p). Yet it appears that national regulations may serve to
obstruct this objective.