The Role and Characteristics of National Accounting Standard Setters in the European Union: A Comparative Analysis
Función y características de los organismos nacionales de normalización contable en la Unión Europea: un análisis comparativo
Supporting Agencies
- Resolución convocatoria ICAC-ASEPUC de informes-dictámenes técnicos 2018
- Spanish Ministry of Science and Innovation (PID 2019-104163RA100)
- Government of Madrid (within the framework of the multi-year agreement with the UAM on Line 3: Excellence for University Staff - PRICIT)
Abstract
). This poses the question of how these institutions adapt to a changing environment and what factors shape their structure. We provide updated information on 17 National Accounting Standard Setters (NASS) from 15 EU countries plus Australia and USA. The results reveal the four most relevant dimensions of each NASS (nature, organization, financing, and transparency) and identify two main models of NASS (public and private). The paper also discusses potential applications of this data, mainly to examine whether (and how) certain institutional factors could enhance the quality of financial reporting.
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Official Websites of National Standard Setting Bodies (NASS) and Accounting Enforcing Bodies:
Australia, Australian Accounting Standards Board (AASB), https://www.aasb.gov.au/
Australia, Australian Securities & Investments Commission (ASIC), https://asic.gov.au/
Austria, Beirat für Rechungslegung und Abschlussprüfung, Austrian Financial Reporting and Auditing Committee (BfRA, AFRAC), https://www.afrac.at/, as part of the Österreichisches Rechnungslegungskomitee (Austrian Accounting Committee, OR).
Austria, Österreichische Prüfstelle für Rechnungslegung, Austrian Financial Reporting Enforcement Panel (AFREP), http://www.oepr-afrep.at/home.html
Belgium, Commission des Normes Comptables, Accounting Standards Commission (CNC), https://www.cnc-cbn.be/frwww.cnc-cbn.be/fr
Belgium, Autorité des Services et Marchés Financiers, Financial Services and Market Authority (FSMA), https://www.fsma.be/en
Denmark, Danish Business Authority (DBA), https://danishbusinessauthority.dk/, Regnskabsudvalget (Danish Accounting Standards Committee, DASC or REGU), https://www.fsr.dk/, Regnskabsrådet, Accounting Board at DBA, https://erhvervsstyrelsen.dk/regnskabsraadet
Denmark, Finanstilsynet, Danish Financial Supervisory Authority (DFSA), https://www.dfsa.dk/
Finland, Kirjanpitolautakunta, Accounting Board (KILA), https://tem.fi/kirjanpitolautakunta[tem.fi/kirjanpitolautakunta]
Finland, Finansinspektionen, Financial Supervisory Authority (FSA), https://www.finanssivalvonta.fi/
France, Autorité des Normes Comptables, Accounting Standards Authority (ANC), http://www.anc.gouv.fr
France, Autorité des Marchés Financiers, Financial Markets Authority (AMF), https://www.amf-france.org/fr
Germany, Deutsches Rechnungslegungs Standards Committee, German Accounting Standards Committee, (DRSC), https://www.drsc.de/
Germany, Bundesanstalt für Finanzdienstleistungsaufsicht, Federal Financial Supervisory Authority (BaFin): https://www.bafin.de/
Greece, Hellenic Accounting and Auditing Standards Oversight Board (ELTE), http://www.elte.org.gr/index.php?lang=enwww.elte.org.gr/index.php?lang=en
Greece, Hellenic Capital Market Commission (HCMC), http://www.hcmc.gr/en_US/web/portal/duties
Italy, Organismo Italiano de Contabilitá, Italian Accounting Body (OIC), https://www.fondazioneoic.eu/
Italy, The Commissione Nazionale per le Società e la Borsa, National Commision for Securities and Exchanges (CONSOB), http://www.consob.it/web/consob/home
Luxembourg, Commission des Normes Comptables, Accounting Standards Commission (CNC), http://www.cnc.lu
Luxembourg, Commission de Surveillance du Secteur Financier, Financial Sector Supervisory Commission (CSSF), https://www.cssf.lu/fr/la-cssf/
Netherlands, Raad voor de Jaarverslaggeving, Dutch Accounting Standards Board (RJ), https://www.rjnet.nl/
Netherlands, Autoriteit Financiële Markten, Dutch Authority for the Financial Markets (AFM), https://www.afm.nl/nl-nl/over-afm
Portugal, Comissão de Normalizaçao Contabilistica, Accounting Standardization Commission (CNC), http://www.cnc.min-financas.pt/
Portugal, Comissão do Mercado de Valores Mobiliários, Commission of Securities and Exchanges (CMVM), https://www.cmvm.pt/pt/Pages/home.aspx
Spain, Instituto de Contabilidad y Auditoría de Cuentas, Institute of Accounting and Auditing (ICAC), http://www.icac.meh.es/www.icac.meh.es/
Spain, Comisión Nacional del Mercados de Valores, National Commission of Securities Markets (CNMV), https://www.cnmv.es/portal/home.aspx
Sweden, Bokföringsnämnden, Swedish Accounting Standards Board (BFN), https://www.bfn.se/
Sweden, Finansinspektionen, Financial Supervisory Authority (FI), https://www.fi.se/sv/om-fi/
United Kingdom, Financial Reporting Council (FRC), https://www.frc.org.uk/
United States, Financial Accounting Standards Board (FASB), https://www.fasb.org/home
United States, Securities and Exchange Commission (SEC), https://www.sec.gov/
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