Rechtswissenschaft

Peter M. Huber

Rechnungslegung und Demokratie

Rubrik: Kleine Beiträge
Archiv des öffentlichen Rechts (AöR)

Jahrgang 133 () / Heft 3, S. 389-403 (15)

10,50 € inkl. gesetzl. MwSt.
Artikel PDF
International Financial Reporting Standards (IFRS) are set up by the International Accounting Standards Board (IASB), a private group of accounting specialists founded in 1973 in London. Their use has become quite popular among those companies which are listed at capital markets, and they have a growing relevance. In the end the IFRS decide on the amount of taxes companies have to pay or on the preconditions under which they fall bankrupt. At least for continental Europe their drafting therefore poses a big issue under the principle of democracy. As this principle requires all acts of state being reduced to the people, the electorate, it is unconceivable that private organizations could decide on the amount of taxes etc. In 2002, EU has passed regulation no. 1606/2002 which enables a discretionary reception of the IFRS into the EU's legal order. This can be regarded as a first compromise between the needs of globalization and the requirements of democracy. However, it can't be the last saying. On the contrary, the EU and its member states are obliged to seek more influence on the IASB, the election of its members and the transparency of its work.
Personen

Peter M. Huber ist Inhaber des Lehrstuhls für Öffentliches Recht und Staatsphilosophie der Universität München.