The Role and Current Status of IFRS in the Completion of National Accounting Rules – Evidence from Norway. (4th May 2017)

• Record Type: Journal Article
• Authors: Kvaal, Erlend
• Is Part Of: Accounting in Europe. Volume 14:Number 1/2(2017)
• Page Start: 150
• Page End: 157
• Publication Date: 2017-05-04
• Subjects: IFRS -- Norway -- EU Accounting Directive 2013/34/EU -- SMEs; Accounting -- Europe -- Periodicals; 657.09405
• DOI: 10.1080/17449480.2017.1304646
• Languages: English
• ISSNs: 1744-9480

Abstract

Abstract: Although not a EU member, Norway is required to implement the EU Accounting Directive through its obligations under the EEA agreement. An expert group has prepared a draft law that will be decided upon by the legislator, most likely during 2017. The draft law has a strong orientation towards IFRS, which is evidenced in particular by the choice of IFRS for SMEs as the basis for Norwegian accounting standards.