In Europe, companies have to operate within the framework set by the Accounting Directives and it is therefore important to know if there are any obstacles to complying both with the Directives and IASs. FEE has examined all IASs and SIC interpretations extent as at 31 December 1998. The views of the Commission and Contact Committee are given followed by the different interpretations and understandings in Member States and conducting with FEE’s position on the subject. Only those IASs, where an actual or potential conflict or uncertainty about the understanding of certain provisions exist, are considered. The Study concludes, with respect to reverse acquisitions, scope of consolidation and fair value accounting on incompatibilities and clarification by the Commission are called for on various other issues.

Position Paper