国际会计第七版课后答案(第三章).docVIP

Chapter 3 Comparative Accounting: Europe Discussion Questions Regulating and enforcing financial reporting is a government function in France. The National Accounting Board (CNC) and the Accounting Regulation committee (CRC) set accounting standards under the jurisdiction of the Ministry of Economy and Finance. The Financial Markets Authority (AMF) ensures compliance with French accounting rules (for listed companies). It is also a government agency. Public and private sector bodies are involved in the regulation and enforcement of financial reporting in Germany. The German Accounting Standards Board is a private sector body that develops German reporting standards for consolidated financial statements. However, German law (the HGB) governs financial statements at the individual company level. Enforcement also involves private and public sector bodies. The Financial Reporting Enforcement Panel is a private sector body that investigates compliance and relies on companies to voluntarily correct any problems that it finds. Matters that cannot be resolved are referred to the Federal Financial Supervisory Authority, a government agency, for final resolution. The regulation and enforcement of financial reporting is in the public sector in the Czech Republic. The Ministry of Finance is responsible for setting accounting principles and it also oversees the Czech Securities Commission which is responsible for enforcing compliance with Czech requirements. Some observers question the effectiveness of the Czech system. A private sector group is responsible for regulating financial reporting in the Netherlands. The Dutch Accounting Standards Board issues guidelines on acceptable accounting principles. Enforcement is handled by the Enterprise Chamber, a special accounting court. It rules on whether companies have used acceptable accounting practices, but only after an interested party has brought a complaint. The Financial Reporting Supervision Divi