摘要
In this paper, the authors focus on valuation standards as a result of the mandatory effect of the implementation of International Financial Reporting Standards （IFRS）, and more precisely on the context of fair value. The paper assesses the impact concentrate on the IFRS adopter countries and at the same time on the Business Valuation Standards （BVS）, because they provide consistence and comparability, in time and in space, to the valuation even different implementation levels of the accounting information system （AIS）. The results corroborate that rules and practices are not sufficient conditions to create a widespread accounting language, and international institutional standards play an essential role in framing financial reporting characteristics, in order to assist financial analysts and accountants to implement the accounting system and strategies, as well as, on firms to adopt the best valuation practices on their disclosures. Also, the authors recommend that the International Accounting Standards Board [IASB], the Securities and Exchange Commission [SEC], the European Commission [EC] and valuation agencies should now devote their efforts to harmonizing valuation standards rather than harmonizing accounting standards.
