Spain and the Transition to IFRS

Ana Zorio
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Ana Zorio: Universidad de Valencia

Chapter 13 in Accounting Reform in Transition and Developing Economies, 2008, pp 191-214 from Springer

Abstract: The aim of this paper is to look into the current regulation of accounting in Spain and the main lines of its future reform towards a high-quality reporting framework based on International Financial Reporting Standards (IFRS), as a result of the EU Regulation 1606/2002. A critical analysis is provided on the perspectives and reactions triggered by this process, which will surely open up new and exciting avenues for future accounting research to explore. Even though Spain is a country that has substantially improved its accounting odel in the past 2 decades, it now envisages a process of transition towards a highquality reporting framework based on IFRS as a result of the EU Regulation 1606/2002 (EU, 2002a). Also, as we show along this paper the quality of Spanish accounting research has greatly increased and played an important role in the promotion of how accounting is now regarded not only in Spain (e.g., in education, regulation, or the professional realm) but also overseas. Indeed, hopefully, research can provide interesting insights and shed some light on the debate on the would-be reform on the Spanish accounting model.

Keywords: Corporate Governance; Audit Committee; International Financial Reporting Standard; Audit Firm; Spanish Company (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-0-387-25708-2_13

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DOI: 10.1007/978-0-387-25708-2_13

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