Accounting integration issues of EU member states


  • Aldona Kamela-Sowińska Poznań University of Economics



legal norm, accounting, integration, European Union


The aim of this article is to discuss the dilemmas over the integration of accounting in EU member states. The dilemma could be divided into the following main groups. Dilemma of the user of financial statements. This dilemma consists in determining for whom the integration of accounting in EU is crucial, and who is the intended beneficiary of integration. Dilemma arising from the lack of theoretical framework for drafting directives and standards: the accounting paradigm assuming that accounting is strictly quantitative. Accounting is a social science, whereas the accounting practice has greater influence on social, rather than purely economic, reality. Dilemma over legal regulations and the legitimization of standard setters could be attributed to accounting regulations as legal norms. A classic example of this might be the transition from rule-based to principle-based IFRSs. The dilemma over the legitimization of standard setters has its roots in the legal aspect of accountancy. In order to solve it, it is necessary to answer the question: ?who controls the processes of accounting integration?? since the participants of this process often present divergent viewpoints, and sometimes even opposite priorities. Dilemma over the politicization of accountancy. The more globalized and complex the economic environment is, the more of political intervention there is expected to be in the standard setting process, affected by global geopolitical trends.


Download data is not yet available.


Bagshow K., (2006), Principles v. Rules, Accountancy Magazine, December
Ball R., (1995) Making Accounting more International, Journal of Applied Corporate Finance, V. 8, No 3;
Ball R., (2006), International Financial Reporting Standards (IFRS): pros and cons for investors, Accounting and Business Research, Taylor & Francis, pp. 14 ? 15;
Benston G.J., (2006) Bromwich, M., Wagenhofer, A., Principles- Versus Rules-Based Accounting Standards, The FASB?s Standard Setting Strategy, Abacus, Vol. 42, No 2;
Berle A.A. and Means G.C.,1932 ,The Modern Corporation and Private Property
Brernet T., (2007) Legitymizacja władzy politycznej. Elementy teorii, Toruń 2000, p. 71
Colasse B., (2004); The International Standardization of Accounting; the Resistible Rise of the IASC/IASB, Gerer et Comprendre, V.100,issues 2;
Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC;
Dobija, D., Dylematy standaryzacji sprawozdawczości finansowej, wyceny i pomiaru zysku, Zeszyty Naukowe, SKwP 2010, No 57 (113),
Dworkin, R., Taking Right Seriously, translation T. Kozłowski, (1998) Biorąc prawa poważnie, Warszawa;
European Parliament (2008) Report on International Financial Reporting Standards (IFRS) and the Governance of the International Accounting Standards Board (IASB), Committee on Economic and Monetary Affairs, Rapporteur: Alexander Radwan [A 6-0032/2008, 2006/2248(INI)], 5 Feb. 2008
Graham C. Neu. D, (2003) D., Accounting for Globalization, Accounting Forum, 2003, p. 27, V.27 ,Issue 4;
Higson A., (2003), Corporate Financial Reporting, theory and Practice, Sage Publication LTD, 2003, p. 84; Kamela-Sowinska, A., 2011, Geopolityka rachunkowości, Prace i Materiały Wydziału Zarządzania Uniwersytet Gdański, tom 1/1,
Kamela-Sowinska, A., 2013, Rachunkowości dylematy integracji rachunkowości w krajach Unii Europejskiej, Studia Oeconomica Posnaniensis,V.1.no8
Kothari S.P. ,Rebecca Lester ,MIT Sloan School of Management, Cambridge. December 14, 2011, accessed 19 Nov. 2014;
Kothari S.P.(2012)., The Role of Accounting in the Financial Crisis: Lessons for the Future, Accounting Horizons,V.20,issue 2,
Kozłowski T., (1996); Autorytet versus przemoc. Ronald Dworkin w obronie imperium prawa, Studia Iuridica XXX/1996, p. 50;
Kwiecień R., (2010) Teoria i filozofia prawa międzynarodowego. Problemy wybrane, Difin, 2011
Kuhn T.S., (2009), Struktura rewolucji naukowych, Wydawnictwo Eletheia, Warszawa;
Lloyd R., Oatham J. and Hammer M., (2007) Global Accountability Report, London: One World Trust
Mackie J., (1984), The Third Theory of Law, [w:] Ronald Dworkin and Contemporary Jurisprudence, M. Cohen, Duckworth Edition 1984;
Mattli W. and Büthe T., (2005a) Global Private Governance: Lessons from a National Model of Setting Standards in Accounting , Law and Contemporary Problem, V68 N3/4: 225-262
Mikołajczyk A., (2007); Legitymizacja prawa, [w:] Leksykon współczesnej teorii i filozofii prawa, C.H. Beck, Warszawa 2007, pp. 169-170;
Nobes Ch. and Parker R.H, (2012),. Comparative International Accounting Amazon 12th edition
rd Eberlein, 2010), Journal of Business Ethics,V.98,issues 2, S., (2008). Accounting in and for the Subprime Crisis,. The Accounting Review, 83(6), pp. 1605-1638,
Travers T, (2014) Regime change, Public Finance International. CIPFA, p.14,
Quinton M., Principles Versus Rules in Financial Supervision, International Monetary Fund, March 2002,WP/02/46
Watts R., Zimmerman J., (1986), Positive Accounting Theory, Englewood Cliffs, NJ: Prentice-Hall.




How to Cite

Kamela-Sowińska, A. (2015). Accounting integration issues of EU member states. Equilibrium. Quarterly Journal of Economics and Economic Policy, 10(2), 223–236.



Financial economics

Similar Articles

1 2 3 4 5 6 7 8 9 10 > >> 

You may also start an advanced similarity search for this article.