The Modern Corporation Statement on Accounting

摘要: A number of regulatory initiatives on the national, international and EU levels both foster fortify principle Maximizing Shareholder Value (MSV) in corporate governance. This tendency can be clearly seen such areas as financial accounting standards various soft hard law pertaining to governance that have flourished recent decades. These created a new type accountability for managers listed corporations will exemplified below. One most important changes over this period was when opted International Financial Reporting Standards (IFRS) basis reporting accounts all listed, EU-based 2005. standards, amounting quasi legislation, are issued by private sector body – Accounting Board (IASB). Other include national ‘corporate codes’ mushroomed since early 1990s. Although codes pertain member states, remains main prescribing hard-law regulation within union, example, means 13 company directives so far.