The role and current status of IFRS in the completion of national rules: Evidence from Greece

Tsalavoutas, I. (2017) The role and current status of IFRS in the completion of national rules: Evidence from Greece. Accounting in Europe, 14(1-2), pp. 102-112. (doi: 10.1080/17449480.2017.1298140)

Abstract

Law 4308/2014 is the main regulation that transposed Accounting Directive 2013/34 of the EU into national law in Greece. This short paper summarises the underlying background and the process followed up to the issuance of this Law. It also outlines the key accounting principles introduced with this Law and how they compare with IFRS. This brief analysis indicates that, to a large extent, Greek accounting standards have now been aligned with IFRS. Given the preceding substantial differences between Greek accounting Laws and IFRS, this Law introduced significant changes to the accounting environment for non-listed companies in Greece, aiming at improving accounting quality and enhancing accounting comparability between listed and non-listed companies.

• Item Type: Articles
• Status: Published
• Refereed: Yes
• Glasgow Author(s) Enlighten ID: Tsalavoutas, Professor Yannis
• Authors: Tsalavoutas, I.
• College/School: College of Social Sciences > Adam Smith Business School > Accounting and Finance
• Journal Name: Accounting in Europe
• Publisher: Taylor & Francis (Routledge)
• ISSN: 1744-9480
• ISSN (Online): 1744-9499
• Published Online: 19 March 2017
• Copyright Holders: Copyright © 2017 European Accounting Association
• First Published: First published in Accounting in Europe 14(1-2):102-112
• Publisher Policy: Reproduced in accordance with the copyright policy of the publisher