Abstract
According to Colasse (2000), "Accounting harmonization means an institutional process, which aims to combine the standards and national accounting practices and, consequently, to facilitate comparison of financial statements produced by firms in different countries. We can distinguish the harmonization of standards, considering that the latter is to the same standards in the same geographical area and aims at uniformity of accounting practices at its heart. Harmonization, however, is supposed to allow some diversity of accounting practices and seeks only to establish equivalence between them and is normally less than the standards, however, can also be seen that harmonization is a less stringent set of standards and a first step towards it. " In recent years, especially after the IASB (International Accounting Standards Board) had set the goal of developing a comprehensive set of standards known as International Financial Reporting Standards or IFRS, which are intended mainly to generalize the concept of fair value but to reduce the options in the previously issued IAS to ensure better comparability of financial statements, there is a real trend towards the international benchmark. Today, membership in the international system established by the IASB continues to increase and the contagion affects both powerful economies and the less powerful. The development of financial markets and transnational transactions and the need to facilitate investor access to reliable and understandable interpretations contributed to implementation of IAS. On 19 July 2002, the European Parliament adopted the 2005 Regulation that adopted the application of international standards for consolidated accounts of listed companies, including banks, insurance companies. We examine the need for an accounting strategy in this document and the various repercussions it brings forth.
