Europe experiences increasing criticism of the IASB and of IFRS from within the EU, Chairman Göran Tidström said. The main concerns were the lack of democratic involvement and insufficient European influence, he underlines.
EFRAG released its Annual Review 2007. Significant events occurred in 2007 for financial reporting in Europe, Göran Tidström, Chairman of the EFRAG Supervisory Board said pointing to the increasing criticism of the IASB and of IFRS from within the EU. The main concerns were the lack of democratic involvement and insufficient European influence, he says introducing the Annual Review.
“The debate within Europe is now focusing on the level of influence Europe can reasonably expect to exercise over global standard setting”, he underlines. “A strong European voice is needed to help the IASB understand the European environment and the ways of doing business.”
Annual Review 2007
© EFRAG - European Financial Reporting Advisory Group
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