Brožová Sandra
Ing., Assistant, Department of Business and European Law
Faculty of International Relations
University of Economic in Prague
nám. W. Churchilla 4, 130 67 Praha 3
THE IFRS DIRECTIVE BEFORE THE COURT
OF JUSTICE OF THE EUROPEAN UNION
Abstract: The International Financial Reporting Standards („IFRS“) are incorporated into the legal order of the European Union by the Directive 2013/34/EU on the annual financial statements. The purpose of this article is to explore the current case law of the Court of Justice of the European Union in Luxembourg („CJEU“) and to analyse some of the raised interpretive challenges which came across when the CJEU connected accounting legislation and its domestic implementation with other connected branches of internal market legal regulation. The conducted research confirms the generally presumed statement that it is the overall realization of internal market economic freedom that is referred to as a central value influencing interpretation when there are some unclear situations needed to be authoritatively decided.
Keywords: IFRS; Court of Justice of the EU; EU directives; preliminary rulings; infringement procedures.
JEL classification: F65, K33
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