Changing rules of accounting in Poland

Abstract

Changes taking place in Poland and in other Central European countries mean a return to the free market economy and private ownership under democratic law. In these circumstances, new accounting regulations are necessary. In this paper some of the important questions covering the process of setting accounting regulations have been identified and discussed. The questions are as follows: - business law and accounting regulations; the sequence of changes; - the scope of accounting regulations; - EC Directives and the new Order on Accounting; - international accounting standards and their importance for changes in accounting regulations; - making use of the experience of West European nations; - Accounting regulations problems concerning the newly established Stock Exchange in Warsaw and the Securities Commission; - the recently promulgated 'Act on Financial Statements Auditing and the Auditors' (independent institution, and standards); - the role of the accounting profession in the rule-making process.

A theory of European accounting development applied to accounting change in contemporary Poland

“…This paper and the theory it presents arise out of the issues encountered in our empirical work to date on accounting change in the transitional Polish economy (Krzywda et al, 1992;1993a;1993b;1994a;1994b;and 1995). One focus of this paper is on the internal factors influencing the nature of accounting change in contemporary Poland.…”

Trading on the Warsaw stock exchange—from reopening in 1991–2000

“…The existing accounting systems were designed to perpetuate the political principles of a communist economy that was void of private ownership. Although an accrual system of accounting existed, the accruals themselves were at the discretion of the economists and central planners (Jaruga, 1993).…”

The development of the role of the statutory audit in the transitional Polish economy

“…Enacted in October 1991, the Audit Act 1991 required a compulsory annual audit (Jaruga, 1993: 120-1) but this legal obligation was to apply for the rst time to nancial statements prepared for the 1992 nancial year (Audit Act 1991, Art. 43).…”