CORDIS
EU research results

CORDIS

English EN

The European IFRS revolution: compliance, consequences and policy lessons

Objective

The proposed research will analyse and evaluate the impact of EU-mandated harmonisation of financial reporting based on International Financial Reporting Standards (IFRS). It will document levels of compliance with IFRS and the institutional, legal and economic determinants of compliance, changes in financial reporting quality and their determinants, and the economic consequences for firms and stakeholder groups. The research addresses questions that are crucially important to the future development of the European economy and financial markets.

The project will overcome fragmentation in financial accounting research across European universities. An intensive network-wide training programme will develop the research competences of a new generation of accounting researchers. It will nurture conceptual and analytical abilities and develop the technical skills necessary to conduct large-scale empirical research. The project will overcome the significant barriers to such research by developing new databases and opening up wider access to existing commercial databases.

The programme will also aim to foster industry-academia cooperation. Through an advisory group, the project team will work closely with members of regulatory bodies, including the International Accounting Standards Board (IASB) and the European Financial Reporting Advisory Group (EFRAG). The project advisory group will assist in identification of relevant research questions, provide feedback on research projects, and assist in the dissemination of result s to policy makers, the accounting profession and industry.

The scientific programme is based on the view that financial reporting is a multi-disciplinary phenomenon and part of a complex equilibrium that also includes the legal and institutional frameworks within which businesses exist. The project will thus integrate relevant theory and empirical methods in accounting, finance, law and economics.

Leaflet | Map data © OpenStreetMap contributors, Credit: EC-GISCO, © EuroGeographics for the administrative boundaries

Coordinator

LANCASTER UNIVERSITY

Address

Bailrigg University House
Lancaster

United Kingdom

Participants (9)

Sort alphabetically

Expand all

CHAMBRE DE COMMERCE ET D'INDUSTRIE DE PARIS - GROUPE HEC

France

JOHANN WOLFGANG GOETHE UNIVERSITAET FRANKFURT AM MAIN

Germany

STICHTING KATHOLIEKE UNIVERSITEIT BRABANT - UNIVERSITEIT VAN TILBURG

Netherlands

UNIVERSIDADE DO PORTO

Portugal

UNIVERSITAT DE VALENCIA

Spain

UNIVERSITY OF CYPRUS

Cyprus

UNIVERSITY OF MACEDONIA ECONOMICS AND SOCIAL SCIENCES

Greece

UNIVERZA V LJUBLJANI

Slovenia

VARNA UNIVERSITY OF ECONOMICS

Bulgaria

Project information

Grant agreement ID: 35850

  • Start date

    1 January 2007

  • End date

    31 December 2010

Funded under:

FP6-MOBILITY

  • Overall budget:

    € 2 618 044

  • EU contribution

    € 2 385 000

Coordinated by:

LANCASTER UNIVERSITY

United Kingdom