IFRS Due Process as an Inspiration for Legislative Process of Developing the Czech Accounting Legislation

Schvalovací proces IFRS jako inspirace pro legislativní proces tvorby českých účetních předpisů

Mariana Valášková

Český finanční a účetní časopis, 2014, vol. 2014, issue 4, 106-119

Abstract: The paper outlines the influence and impact of IFRS on accounting regulation in Czech Republic. The core of the paper is comparison of IFRS due process with legislative process of developing the Czech accounting legislation. The comparison of both of the processes enables to identify the weaknesses of Czech due process and provides specific recommendations for its improvement and increase efficiency. From the perspective of nature of accounting regulation the delegation of certain part of the developing accounting rules from the state to the accounting profession is important especially to strengthen the quality, understanding and acceptance of accounting rules, which can be effectively ensured through the due process different from that legislative. Inspiration can be found in the IFRS due process.

Keywords: IFRS; Due process; Legislative process; Ministry of Finance; Comparison; Schvalovací proces; Legislativní proces; Ministerstvo financí; Srovnání (search for similar items in EconPapers)
JEL-codes: M41 (search for similar items in EconPapers)
Date: 2014
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DOI: 10.18267/j.cfuc.427

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