International Conference on Evaluation of the IAS Regulation
25 June 2015, Riga, Latvia
The Ministry of Finance of Latvia organized the conference in cooperation with the European Commission within the framework of the Latvian Presidency of the Council of the European Union.
More than 10 years after the adoption of Regulation 1606/2002 on the application of International Accounting Standards (IAS Regulation) and following an initial review of its operation in 2008, the Commission has announced that it will assess whether the IAS Regulation achieved its initial objectives. This work draw on Philippe Maystadt’s recommendations to reinforce the EU’s contribution in the international standard-setting area. The European Commission issued its report on the evaluation of the IAS Regulation on 18 June 2015.
The conference presented participants with an unique opportunity to learn about the results of the European Commission's evaluation and to discuss them with key stakeholders, including representatives from the European Commission, the European Parliament, the World bank, the IASB, policymakers and standard setters, academics and the business community.
The conference was made up of three sessions:
- Evaluation of the IAS Regulation (Moderator Valerie Ledure, European Commission, DG FISMA);
- Implementation of the Maystadt Recommendations one year after the EFRAG reform (Moderator Philippe Maystadt, Special Advisor of ex-Commissioner Michel Barnier);
- Future course of global quality standards. Are truly global standards achievable? (Moderator Henri Fortin, World Bank).