European Accounting Harmonisation, an Historical perspective Avrupa Muhasebe Sisteminin Birlestirilmesi, Tarihsel bir P

1. European Accounting Harmonisation, an Historical perspectiveAvrupa Muhasebe Sisteminin Birlestirilmesi, Tarihsel bir Perspektif Yannick Lemarchand University of Nantes - France

2. Yannick Lemarchand. Istanbul September 22th 2005 European Accounting Harmonisation, an Historical perspective 1. Precursors and predecessors Kurucular ve ge�misteki �nemli kisiler 2. The European Union and Accounting Harmonisation Avrupa Birligi ve Muhasebe Sistemlerinin uyumu 3. The International Accounting Standardisation Uluslararasi Muhasebe Sistemleri Standardizasyonu 4. The adoption of IAS-IFRS by the European Union IAS-IFRS�in Avrupa Birligince kabulu

3. Yannick Lemarchand. Istanbul September 22th 2005 Precursors and predecessorsKurucular ve �nemli Kisiler 1.1. Textlaws of Colbert (1673) and Napoleon (1807) Colbert ve Napolyon Kanunlari 1.2. The Association Internationale de Comptabilit� Uluslararasi Muhasebeciler Birligi 1.3. The movement towards Accounting Charts Muhasebe Tablolarina gidis 1.4. The UEC � FEE

4. Yannick Lemarchand. Istanbul September 22th 2005 1.1. Colbert (1673) and Napoleon (1807) Colbert�s Ordonnance du Commerce (1673) All merchants (retailers or wholesalers) had to keep an accounting diary and to make an inventory every two years T�m t�ccarlar(perakendeci, toptanci) muhasebe g�nl�g� tutacaklar ve her iki yilda bir stok d�k�m� yapacaklar. Napoleon�s Code de Commerce (1807) The inventory became annual Stok sayimi yillik yapilacaktir. The same prescriptions were adopted by Belgium, Netherlands, Luxemburg and some German states, following the Napoleonic conquests. Napolyon�un isgalini m�teakip ayni uygulamalar Bel�ika, Hollanda, L�ksemburg ve Alman eyaletlerinde yapilmaya baslandi.

5. Yannick Lemarchand. Istanbul September 22th 2005 1.2. The Association Internationale de Comptabilit� Founded in 1911, by Paul Otlet (initiator of the Universal Decimal Classification - UDC), and Henri La Fontaine (Nobel Peace Prize 1913) 1911�de Paul Otlet ve Henri La Fontaine tarafindan kuruldu. Otlet became the instigator of the use of UDC in accounting charts Otlet UDC (Uluslararasi ondalik klasifikasyonu)�nu muhasebe tablolarinda kullaniminin �nc�s� oldu. Main aims of the association: �the unification and internationalisation of accounting systems and financial statements and the adoption of a universal accounting frame� Kurumun ana hedefleri: Muhasebe sistemlerinin ve mali tablolarin birlestirilmesi ve uluslararasi hale getirilmesi ve k�resel bir muhasebe �er�evesinin kabul edilmesi

6. Yannick Lemarchand. Istanbul September 22th 2005 1.2. The Association Internationale de Comptabilit� AIC Congresses - Kongreler - 1910 Brussels - 1931 Bucharest - 1911 Charleroi (Belgium) - 1935 Brussels - 1913 Ghent (Belgium) - 1937 Paris - 1926 Brussels - 1939 Liege (Belgium) - 1929 Barcelona Average participation- Ortalama Katilim 19 countries from 1926 to 1939 1926 � 1939 arasi 19 �lke Turkey was present in 1931, 1935 and 1939 T�rkiye 1931, 1935 ve 1939 �daki kongrelerde temsil edildi.

7. Yannick Lemarchand. Istanbul September 22th 2005 1.3. The movement towards Accounting ChartsMuhasebe Tablolarina Gidis Predecessors- �nc�ler Paul Otlet (Belgium) Eugen Schmalenbach (Germany) 1937 - German Accounting Chart Alman Muhasebe Tablosu The French case Fransa Durumu 1939-1945 German occupation during the 2nd World War 1942 - French Accounting Chart (project) inspired by German experiment. 1939-1945�teki Alman isgali sirasinda Fransiz Muhasebe Tablosu (proje) Alman tecr�besinden esinlendi. 1945 - Post-war government 1945 Savas sonrasi h�k�meti 1947 - 1st Plan comptable revised in 1957 1947 - 1. uyum plani 1957�de revize edildi. 1982 - New Plan comptable g�n�ral, following the 4th Directive of EU on company law, revised in 1999. 1982- Yeni genel uyum plani. AB�nin sirketlere iliskin Talimati�dan sonra. 1999�da revize edildi.

8. Yannick Lemarchand. Istanbul September 22th 2005 1.4. The UEC - FEE 1951 - Creation of the UEC (Union des Experts Comptables europ�ens, European Association of Accountants) 1951- UEC Avrupa Muhasebeciler Birligi 1963 - UK, Ireland and Scandinavian countries joined the UEC 1963- Ingiltere, Irlanda ve Iskandinav �lkeleri UEC�e katildi. 1967 - The UEC became the FEE (F�d�ration des Experts-comptables Europ�ens) 1967�de UEC, Avrupa Muhasebeciler Birligi oldu. FEE today: FEE bug�n 32 countries 32 �lke 500 000 professionals 500 000 �ye

9. Yannick Lemarchand. Istanbul September 22th 2005 2. The European Union and Accounting HarmonisationAvrupa Birligi ve Muhasebe Sistemlerinin Uyumu 2.1. Goals and means of the EU AB�nin hedef ve ara�lari 2.2. The 4th directive on company law Sirketler Kanunundaki 4. talimat 2.3. The 7th directive on company law Sirketler Kanunundaki 7. talimat

10. Yannick Lemarchand. Istanbul September 22th 2005 2.1. Goals and meansHedefler ve ara�lar 1957 - Treaty of Rome, creation of EU 1957- Roma Anlasmasi, AB�nin kurulusu Belgium, France, Germany, Italy, Luxemburg, Netherlands Free movement of persons, goods and services, and capital Bel�ika, Fransa, Almanya, Italya, L�ksemburg, Hollanda. Insan, mal ve hizmetler ve sermayenin serbest dolasimi 1970 - Common industrial policy: Ortak sinai politika Creation of a unified business environment, including Birlesik bir is ortami yaratmak, asagidaki hususlar dahil Harmonisation of company law and taxation Sirketler hukuku ve vergilendirmenin uyumu Creation of a common capital market Ortak sermaye pazari olusturulmasi Two instruments Iki ara� Directives, which must be incorporated into the laws of member states �ye �lkelerin kanunlarinin i�ine konulacak olan Talimatlar Regulations, which become law throughout the EU AB �lkelerinde kanunlasan yasalar

11. Yannick Lemarchand. Istanbul September 22th 2005 2.2. The 4th directive on company law Sirketler kanunundaki 4. talimat Drafts: 1971 and 1974, adoption in 1978 Taslaklar: 1971 ve 1974, kabul� 1978 Content: I�erigi Valuation rules Degerlendirme kurallari Formats of published financial statements Yaninlanan mali tablolarin formatlari Disclosure requirements A�iklama gereklilikleri First draft influenced by German company law Birinci taslak Alman sirket kanunundan etkilendi. Anglo-Dutch influence after 1973 (UK, Ireland and Denmark entrance in EU): concept of �true and fair view� 1973�ten sonra Anglo-Hollanda etkisi.(Ingiltere, Irlanda veDanimarka�nin AB�ye girisinden sonra) Ger�ek ve dogru bakis The directive was supposed to be enacted in members states by July 1980 and to be in force by January 1982; it took between 1 to 10 years more, depending on the countries. Talimatin Temmuz 1980�den itibaren uygulanmasi ve Ocak 1982�den itibaren y�r�rl�kte olmasi �ng�r�lm�st�. Bu s�re� �lkesin g�re 1 ila 10 yil veya daha fazla s�rd�.

12. Yannick Lemarchand. Istanbul September 22th 2005 2.3. The 7th directive on company law  Sirketler kanunundaki 4. talimat Drafts: 1976, 1978, adoption in 1983 Taslaklar : 1976, 1978. Kabul� 1983. Concern: consolidated statements Ilgi : konsolide mali tablolar Definition of a group, exemptions, exclusions, special cases Gurubun tanimlanmasi, istisnalar, muafiyetler, �zel durumlar Accounting rules, disclosure in the notes, director�s report Muhasebe kurallari, notlardaki a�iklamalar, direkt�r raporu Audit Denetim First draft influenced by German rules Birinci taslak Alman kurallarindan etkilendi. Addition or substitution of Anglo-American features into the second draft Ikinci taslaga Anglo-Amerikan hususlar ilave edildi veya degistirildi. National laws implementing the directive were required to be enacted by 1988 and their provisions were to apply by 1990 (it took five years more) 1982�ye kadar ulusal kanunlarla Talimatin uygulanmasi yapilmasi istendi. H�k�mleri 1990�dan itibaren uygulanacakti. (5 yil veya daha uzun s�rd�)

13. Yannick Lemarchand. Istanbul September 22th 2005 3. The International Accounting StandardisationUluslararasi Muhasebe Standardizasyonu 3.1. The IASC IASC 3.2. IASC plus IOSCO IASC arti IOSCO 3.3. Towards the adoption of IAS-IFRS by the EU AB tarafindan IAS-IFRS�in kabul�

14. Yannick Lemarchand. Istanbul September 22th 2005 3.1. The International Accounting Standard CommitteeUluslararasi Muhasebe Standartlari Komitesi 1973 - Inaugural meeting 29 June, London 1973- Londradaki ilk toplanti 29 Haziran Agreement by accountancy bodies in Australia, Canada, France, Germany, Japan, Mexico, the Netherlands, the United Kingdom, Ireland and the United States Avusturalya, Kanada, Fransa, Almanya, Japonya, Meksika, Hollanda, Ingiltere, Irlanda ve ABD�de muhasebe kurumlarinin anlasmasi 1977 - Creation of the International Federation of Accountants (IFAC) 1977- IFAC- Uluslararasi Muhasebeciler Federasyonu�nun kurulmasi 1981 - Agreement between IASC and IFAC: 1981- IASC ve IFAC arasinda anlasma Full and complete autonomy for IASC in the setting of international accounting standards IASC�nin uluslararasi muhasebe standartlari olusturulmasinda tamamen �zerk olmasi All accountancy bodies members of IFAC became members of IASC IFAC�in t�m muhasebe organlari IASC �yeleri oldu.

15. Yannick Lemarchand. Istanbul September 22th 2005 3.1. IASC plus IOSCOIASC arti IOSCO 1987 - IOSCO (International Organisation of Securities Commissions) joins the Consultative Group and supports Comparability project 1987- IOSCO(Uluslararasi Hisse Senetleri Komisyonu) Danisma Guruba katildi ve Mukayese Projesini destekledi 1990 - European Commission joins Consultative Group and joins Board as observer 1990- Avrupa Komisyonu Danisma Gurubuna katildi ve Y�netim Kurulunda g�zlemci olarak bulunmaya basladi 1991 - First IASC conference of standard setters, organised in conjunction with FEE and FASB 1991- 1. IASC stnadartlarin konulmasi konferansi. FEE ve FASB ile beraber organize edildi. 1995 - European Commission supports IASC/IOSCO agreement and use of IASs by EU multinationals 1995- Avrupa Komisyonu IASC/IOSCO anlasmasini ve IAS�in AB �ok uluslu sirketleri tarafindan kullanilmasini destekledi

16. Yannick Lemarchand. Istanbul September 22th 2005 3.1. Towards the adoption of IASs by the EUIASs�in AB tarafindan kabul� 1996 - EU Contact Committee finds IASs compatible with EU directives, with minor exceptions 1996- AB Iliski Komitesi IASs�in, bir ka� ufak istisna disinda, AB talimatlarina uygunlugu kabul eder. 1997 - FEE calls on Europe to use IASC's Framework 1997- FEE Avrupa�nin IASC �er�evesini kullanmasini ister 1998 - New laws in Belgium, France, Germany and Italy allow large companies to use IASs domestically 1998- bel�ika, Fransa, Almanya ve Italya�daki b�y�k sirketler IASs�in mahalli olarak uygulanmasina izin verdiler. 2000 - European Commission announces plans to require IASC standards for all EU listed companies from no later than 2005 2000- Avrupa Komisyonu AB�de kayitli t�m sirketlerin IASC standartlarini 2005�ten daha ge� olmamak �zere kullanmalari i�in uygulama plani a�ikladi. 2001 - April, creation of the International Accounting Standards Board (IASB), the new standard setter 2001- Nisan. Uluslararasi Muhasebe Standartlari Kurulu (IASB)�nun olusturulmasi. Yeni standart koyucu.

17. Yannick Lemarchand. Istanbul September 22th 2005 4. The adoption of IAS-IFRS by the European Union Avrupa Birligi�nin IAS-IFRS�i kabul� 4.1. A political decision Politik bir karar? 4.2. A political abdication? Politik bir vazge�is?

18. Yannick Lemarchand. Istanbul September 22th 2005 4.1. A political decisionPolitik bir karar 2002, March 12 - the regulation requiring the adoption of IASs for all EU listed companies in 2005, is adopted by the European Parliament 2002, Mart 12- Avrupa Parlamentosu, AB�de kayitli sirketlerin 2005�ten itibaren IASs kullanmalari gereksinimi yasasini kabul etti. The EU regulation applies directly without any need for national law. It concerns the consolidated accounts of listed companies AB yasasi herhangi bir ulusal kanuna gerek olmadan ge�erlidir. Bu yasa s�zkonusu sirketlerin konsolide hesaplarini kapsamaktadir. Member states may choose to extend the regulation � as a requirement or an allowance � to other sorts of companies and to individual (as opposed to consolidated) accounts �ye �lkeler yasa kapsamini genisleterek- mecburiyet veya tercih olarak- diger sirketlere veya tek (konsolidenin karsiti olarak) hesaplara uygulayabilirler.

19. Yannick Lemarchand. Istanbul September 22th 2005 4.2. A political abdicationPolitik bir vazge�is European laws will be elaborated by a non-European private organisation Avrupa kanunlari Avrupali olmayan �zel bir kurum tarafindan gelistirilecektir. Among the 14th members of the IASB, 10 are coming from the Commonwealth or from the USA, the others are coming from France, Germany, Japan and Switzerland IASB�nin 14 �yesinden 10�u Birlesik Krallik veya ABD�den gelmekte; digerleri Fransa, Almaya, Japonya ve Isvi�re. The president is Paul Volcker, former chairman of the US Federal Reserve System (1979-1982) Baskan Paul Volcker, ABD Federal Rezerv Sisteminin eski baskani (1979-1982) The idea of a European accounting model taking in account stack-holders interest is definitively abandoned Ortaklarin �ikarlarini dikkate alan Avrupa muhasebe modeli fikri tamamen terk edildi.

20. Yannick Lemarchand. Istanbul September 22th 2005 Not a conclusion but a questionSonu� degil bir soru �War is much too serious a matter to entrust to military men� said French Prime Minister Georges Clemenceau (1841-1929) Fransiz Basbakani Clemenceau (1841-1929) savasin sadece askerlerin inisiyatifine birakilamayacak kadar ciddi bir konu oldugunu s�ylemisti. In a democracy, the representatives of the people hold the supreme power and no sector of the state should be excluded from their control Demokrasilerde, halkin temsilcileri en y�ksek yetkiye sahip ve devletin herhangi bir biriminin onlarin kontrol� disinda tutulmasi s�z konusu degil. Is not accounting standardisation a much too serious matter to entrust to accountants? Muhasebenin standardizasyonu da sadece muhasebecilere birakilamayacak kadar ciddi bir konu degil mi?