Kierunki zamierzonej modernizacji Czwartej Dyrektywy UE
Directions of modernization of the Fourth Directive EU

Summary/Abstract: The Forth Directives is 31 years old. After the implementation of the International Financial Reporting Standards by the European Parliament the role of the accounting directives changed. Today, the scope of their application is limited to non-public entities. It is high time to revise the accounting directives and adapt them to the needs of enterprises to which they are applicable. The authors of this article explain the proposals of modernization of the Forth Directive presented by the European Commission in Working Document of the Commission Services (DG Internal Market), Consultation Paper on Review of the Accounting Directives (2009) and attempt to evaluate them in the context of required simplifications of accounting rules for the SME sector, the conceptual framework for financial reporting issued by the IASC in 1989, and the current joint IASB and FASB conceptual framework project.

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