A new paper was released as part of the Cogito series, a selection of publications issued by Accountancy Europe set up to provide new ideas and insight for the European accountancy profession, aiming at enhancing innovation and the contribution of Accountancy Europe to business and society.
This document, „Standard setting in the 21st century”, proposes „principles and criteria that standard setters should embrace and suggestions for improvement where current standard setters do not meet these criteria”. The paper also takes a look at „how standard setting for financial reporting and auditing is organised now, and what could be improved to keep this process relevant for the needs of the 21st century”.
Feedback on this paper is encouraged as collective debates can ensure future development and can help identifying solutions to challenges met by accounting professional. You can access and download the paper here.