What are you comparing IFRS to? Are you sure they are more stringent when compared to the "conventional" German standards?
Companies can mark the assets based on different accounting rules, for example mark according to different models... great news for bankers!
Where in the world is this coming from? Harmonizing to an international standards used by most of the 1st world countries means LESS choice for accounting games.
Sorry for misunderstanding. I falsely took your comment as a general claim about IFRS being a standard, that is worth to strive for.
um... how about the actual rules themselves... for example, IFRS rules disallowed the pooling method of merger accounting before US rules. I'm not an accountant - but I do recall the IFRS treatment of securities classification (whether they are held to maturity and no marked to market) is more stringent. Also, I believe for the rules for retirement benefits also favors a more stringent expensing schedule under IFRS.
OK, this is where the 99% of non-CPA investors (like me) are going to get buffaloed by the globalists. It's going to lay the foundation for more shady creativity regardless IMO. The change may tout cost savings by elimination of duplicate accounting standards, but what about all those corporate beancounters who now need new training in the international standards? I'm looking for a reason behind lame duck slamdunks like this one...and it ain't transparency or cost reduction.