Fiume Raffaele/ Financial Reporting, Riviste / Fascicolo: 1-2013

The European Financial Reporting Advisory Group (EFRAG) was established in 2001 to provide input to the development of accounting standards and to provide the European Commission with technical expertise on Accounting matters. Its main task is to advice to the European Commission before it endorses standards. The key role in the European institutional environment has given to EFRAG a significant capability of influencing the standard setting process conducted by IASB. In a more substantial perspective, the main role of EFRAG is to participate to the development of IFRSs so that they can be endorsed for use in the European Union. A review of EFRAG’s present structure and of the documents it has issued shows that its activity has gone far beyond advising the European Commission and the Accounting Regulation Committee during the endorsement process; EFRAG has also been pursuing a proactive role in its involvement with IASB and IFRIC and in the improvement of accounting directives. In doing this, it has been obtaining a growing interest among institutions, preparers and users, as confirmed by the funding of, and participation in, working groups by these stakeholders. EFRAG’s activities can be intuitively considered relevant for Accounting studies.  Il could be interesting to analyze the “real” influence of EFRAG’s output on accounting rules and practice and the perception of this influence by its stakeholders, starting from European Commission. Moreover, evidences about the interest of Scholars in EFRAG’s activities and about the relevance given to academic research in EFRAG’s action could contribute to a better understanding of the attention EFRAG and Accounting scholars pay each other. […]

Keywords: Intangibles, risks related to intangibles, risk reporting, disclosure, banking sector, content analysis

Durst Susanne/ Financial Reporting, Riviste / Fascicolo: 1-2013

Intangibles are viewed as the key drivers in most industries, and current research shows that firms voluntarily disclose information about their investments in intangibles and their potential benefits. Yet little is known of the risks relating to such resources and the disclosures firms make about such risks. In order to obtain a more balanced and complete picture of firms’ activities, information about the risky side of their intangibles is also needed. This exploratory study provides some descriptive insights into intangibles-related risk disclosure in a sample of 16 large banks from the United States (US), United Kingdom (UK), Germany and Italy. Annual report data is analyzed using the three Intellectual Capital dimensions. Study findings illustrate the variety of intangibles-related risk disclosure as demonstrated by the banks involved.

Keywords: Intangibles, risks related to intangibles, risk reporting, disclosure, banking sector, content analysis