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Unformatted text preview: of the Civil Code without any substantial changes. The
Civil Code was subsequently amended several times to implement EU accounting directives.
A unique characteristic of financial reporting regulation in the Netherlands is the existence of
a court called the Enterprise Chamber ( Ondernemingskamer). This Chamber was introduced
in 1970, together with the WJO. It has exclusive authority over company financial reporting.
The Council for Annual Reporting (CAR – Raad voor de Jaarverslaggeving), created in 1981,
represents the preparers, the users and the auditors. It issues Guidelines and has also published
a Framework (comparable to IASC’ Conceptual Framework).
The Scandinavian countries (Denmark, Finland, Norway and Sweden) are often treated as a
group since they share a common history and are culturally close to each other. As far as
accounting is concerned, they have many similar attributes.
Accounting in Scandinavia is regulated in a number of ways. Since the beginning of the
century it has been regulated by law (and ministerial orders), both sp...
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This note was uploaded on 05/02/2013 for the course ECONOMIC economics taught by Professor Economics during the Fall '13 term at Elmont Memorial High School.
- Fall '13
- The Land