Changing rules of accounting in Poland

Abstract

Changes taking place in Poland and in other Central European countries mean a return to the free market economy and private ownership under democratic law. In these circumstances, new accounting regulations are necessary. In this paper some of the important questions covering the process of setting accounting regulations have been identified and discussed. The questions are as follows:

- business law and accounting regulations; the sequence of changes;

- the scope of accounting regulations;

- EC Directives and the new Order on Accounting;

- international accounting standards and their importance for changes in accounting regulations;

- making use of the experience of West European nations;

- Accounting regulations problems concerning the newly established Stock Exchange in Warsaw and the Securities Commission;

- the recently promulgated ‘Act on Financial Statements Auditing and the Auditors' (independent institution, and standards);

- the role of the accounting profession in the rule-making process.