MULTI-LEVEL GOVERNANCE IN REGULATION OF ACCOUNTING IN GERMANY: STRUCTURE AND ACTIVITIES OF ACCOUNTING STANDARDS COMMITTEE OF GERMANY
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 2, Issue 2
Abstract
Introduction. Multi-level governance, which has become a standard for regulation of accounting in the leading jurisdictions around the world, requires research into models of its application in terms of comparability between countries and in terms of their application in Ukraine. On behalf of use of such models in Ukraine it is important to study the experience of continental Europe’s countries, which, unlike their Anglo-Saxon counterparts had similar legal system to our country. Purpose. The goal we have been following was to analyze and give detailed description of private sector accounting regulator in Germany, to determine the main features of this model, which distinguish it from others in the context of the application of similar systems in Ukraine. Additional goal was to raise awareness of the difference between the terms "management" and "governance" which often are used interchangeably in today’s Ukraine. Methods. We used monographic method to depict the views of researchers on multi-level governance and regulation of accounting in Germany: the method of analysis of documents, analysis and method of abstraction to identify the main characteristics and features of accounting regulation models in Germany; dialectical logic and abstract-logical method to synthesize research results and drawing conclusions. Results. Organizational structure, membership, main functional responsibilities of governing bodies, and due process of technical committees of Accounting standards committee of Germany have been ascertained. The key features of multi-level governance is given, the differences between the terms "governance" and "government" is defined. It is proved that ASCG meets all criteria inherent in multilevel models of accounting regulation. The use of such a regulatory system in Ukraine is recommended. Discussion. We support the contention that use of a similar model of multilevel governance of accounting in Ukraine would lift regulation of accounting at the level that would be harmonized with the economic environment of the country’s demonopolised from state influence environment and would lead towards convergence of financial reporting in Ukraine on all three levels of convergence established by New Institutional accounting.
Authors and Affiliations
Oleh Pasko
Keywords
Related Articles
- EP ID EP185145
- DOI -
- Views 143
- Downloads 0
CONCEPTUAL FOUNDATIONS AS A METHODOLOGICAL BASIS Of BUSINESS ENTITIES FINANCIAL STATEMENTS FORMATION AND ANALYSIS
Introduction. The article revised financial reporting framework, including the concept of equity as the basis of national accounting standards and methodology formation and interpretation of indicators of financial repor...
SOCIAL ASPECTS OF THE COUNTRY’S NATIONAL ENERGY SPHERE DEVELOPMENT
Introduction. The issue of consumer protection during electricity market reforming becomes of special urgency and requires the appropriate instrumentarium that would meet the aquis communautaire criteria as for providing...
SOCIALLY RESPONSIBLE MARKETING FOR ENERGY INFRASTRUCTURE ENTERPRISES
Introduction. Because of a number of objective factors there is an important question for social restructuring and modernization of energy infrastructure management (hereinafter EI) through the integration into EI corpor...
PROBLEMS OF THE ACCOUNTING DISCIPLINES TEACHING METHODOLOGY
Introduction. Labor market places high demands on accounting and analytical workers in present conditions of fierce competition, rapid technological progress, growth of information resources, and globalization of life ph...
SCIENTIFIC APPARATUS FOR CONTROL THEORY DEVELOPMENT
Introduction. The current control can’t effectively influence the practical organization of macro and micro levels of economic management due to significant gap between the theory and practical needs. The lack of a well-...