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Which Accounting Rules for Economic and Social Sustainable Development? Engaging Critically with IFRS Adoption in the EU

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Abstract
The worldwide recession caused by the financial market crisis has raised widespread criticism on free stock market-based capitalism, highlighting the need for alternative ways of doing business. In the European Union, economists and institutions have begun to look back at industrial policies to implement a new way of doing business based on economic and social sustainable development, which is one of the founding principles of the European Union. This being the context, this paper discusses financial reporting regulation within the uniqueness of the EU institutional context and examines the consistency of IFRS adoption with the EU societal objectives. Specifically, the paper examines IFRS capability to support economic and social sustainable development. In doing this, not only does it provide regulators with a post-implementation overall assessment of IFRS adoption in the European Union but also with some guidance for future endorsement.

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  • Palea, Vera & Biancone, Paolo Pietro, 2017. "Which Accounting Rules for Economic and Social Sustainable Development? Engaging Critically with IFRS Adoption in the EU," Department of Economics and Statistics Cognetti de Martiis. Working Papers 201733, University of Turin.
    • Handle: RePEc:uto:dipeco:201733
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