Financing the IASCF - Is a Listing Fee Compatible with the German Constitution? (Die verfassungsrechtliche Zulässigkeit der Finanzierung des deutschen Beitrags zur IASCF durch eine Sonderabgabe)

31 Pages Posted: 9 May 2008  

Christian Kersting

Heinrich Heine University Düsseldorf - Faculty of Law

Date Written: 2008

Abstract

The International Accounting Standards Board (IASB) has the task of independently developing accounting standards. The International Accounting Standards (IAS) or International Financial Reporting Standards (IFRS) published by the IASB are transposed into European law via the so called endorsement procedure. Under European law, all listed companies are required to draw up their group accounts according to IAS/IFRS.

The IASB's parent body, the International Accounting Standards Committee Foundation (IASCF), is financed by voluntary contributions. According to the IASCF's financing guidelines, these voluntary contributions have to be raised internationally. The amount expected from each country's business community is determined by the country's gross domestic product.

This article deals with raising the contribution expected from Germany's business community. It argues that a listing fee can be constitutionally imposed on all listed companies. The article is based on an expert opinion delivered by the author in October 2007.

Notes: Downloadable document is in German.

Keywords: IASCF, IASB,IAS, accounting, international accounting, accounting standard, financial reporting, listing fee, financing IASCF, financing IASB, Rechnungslegung,Konzernrechnungslegung,Rechnungslegungsstandard,Finanzierung IASCF,Finanzierung IASB,IAS-VO,Sonderabgabe,Kapitalmarktteilnehmer,Steuer,Bilanz

JEL Classification: M41, M44, M47, M49, H21, K34, O23, P43, G18

Suggested Citation

Kersting, Christian, Financing the IASCF - Is a Listing Fee Compatible with the German Constitution? (Die verfassungsrechtliche Zulässigkeit der Finanzierung des deutschen Beitrags zur IASCF durch eine Sonderabgabe) (2008). CBC-RPS No. 0032. Available at SSRN: https://ssrn.com/abstract=1128122 or http://dx.doi.org/10.2139/ssrn.1128122

Christian Kersting (Contact Author)

Heinrich Heine University Düsseldorf - Faculty of Law ( email )

Universitätsstr. 1
Düsseldorf, D-40225
Germany
0211 8111660 (Phone)

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