Article 31 of the Fourth Directive, which specifies the general valuation principles to be applied in the preparation of financial statements, shows a difference in emphasis between the different language versions. Except for the English version of the Directive, all others emphasize prudence,...

The Eighth EU Council Directive addresses the harmonization of the conditions for the approval of auditors. This paper deals specifically with the approval of incorporated audit firms, which is regulated by Article 2 of the Directive, and with the extent to which the Eighth Directive has...

The European Union Eighth Directive on the approval of auditors covers auditor independence only to a very limited extent. The provisions in the five articles on this subject are far less detailed than they were in the drafts of the directive, so that almost all specific regulation is left to...

The operational links between tax and financial reporting vary on a continuum from country to country and from period to period. We propose a model for how the links vary over time in developed Western countries. This takes account of competing purposes for accounting, and the mutual reactions...

International Financial Reporting Standards (IFRS) contain several policy options. This paper examines the choices made in 2008/9 IFRS financial statements by large listed companies from five countries on all the options that are observable. We compare these choices with those that had been made...