Italy. The Transition to IFRS in Italy and Elsewhere, or from Code Napoléon to the Devolution of Sovereignty

The New “European” Financial Statement and Its Implications in Italy

“…The adoption of international accounting principles, able to integrate and clarify the laws governing the financial statements, represents a further contribution to the improvement of corporate information, certain in a corpus of divergent origin and nature. This introduction more than an evolution from the legislative point of view, is emerging as a "revolution from the practical point of view", which however is devoid of heuristic value to be considered in the same way as a scientific revolution (Canziani, 2016).…”

On the Accounting Regulation for the European Private Sector

“…Some today highly debated problems stemming from their adoption -mark to market, 'fair' values in general -derive in fact from the clash between some classical 'world principles' (neutrality, consistency, caution among them) and the financialisation approach of IAS/IFRS, tending to satisfy the financial interests of financial investors. They derive, more substantially, from the clash between the concept describing the firm as a going concern, a dynamic income-producing economic unit and the opposite Anglo-Saxon ones, from the 'black box' to 'a set of assets and liabilities' (Bensadon & Praquin, 2016;Canziani, 2016;Rayman, 2006).…”