Abstract:This article aims at ascertain if external and independent audit can improve the reliability of IAS/IFRS financial statements with regard to the accounting of complex contractual instruments such as swing contracts for the sale and purchase of energy commodities. To this end, first of all the standard contents of the contracts at stake will be identified, based on those usually recurring in corporate practice. Then, it will be ascertained whether such contracts subtend an industrial usage only, so that the per… Show more
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