The IFRS allows the option for national regulators to place their own interpretation on the accounting and reporting standards, which leads to a difference in implementation. The aim of this study is to assess the impact of this differential on four key areas by comparing the UK and French regulatory systems.
The principle objective of the introduction of the
international financial reporting standards was to create
greater transparency and comparability between financial
statements prepared for corporations domiciled in diverse
global geographical locations (Nobes and Parker 2008). Yet
despite this aim, due partly to the corporate and regulatory
differences that exists between national environments means
that total harmonisation has still not been achieved.