Romania in the context of EU endorsement of international accounting standards

摘要

Accounting harmonization is the process of minimizing the differences in financial reporting practices across national boundaries. To achieve compliance of IAS/IFRS-EU directives and to protect their political objectives, the EU concealed a formal mechanism of acceptance (endorsement mechanism). Choice of IFRS by the European Union was an economic and political decision, compulsory for publicly traded companies. From 1st of January 2007 Romania became an EU Member State, as that involves both rights and obligations. Thus, Romania was integrated in the general process of accounting harmonization at the level of the European Union. Our study aimed the stage of the implementation of the EU endorsement mechanism in Romania, as compared to EU in its integrality.