The 11th International Scientific Conference IFRS: Global Rules and Local Use – Beyond the Numbers: October 12, 2023, Prague

The major focus of the conference was on the growth of nonfinancial reporting, particularly in the realms of social and environmental issues, aligning with sustainable development goals. Prof. Adriana Tiron-Tudor from Babeş-Bolyai University Romania provided insights into the current landscape and emerging trends in non-financial reporting. Prof. Anna Bialek-Jaworska from the University of Warsaw explored the impact of prohibiting IFRS usage by domestic firms on the alternative market, highlighting its discouraging effect on leading foreign investors in the Polish market. Prof. Eva Jancikova from Bratislava examined the recent developments of the Belt and Road Initiative, emphasizing the subsequent increase in international trade from formerly less developed countries (BRICS and the extended New BRICS). Prof. Erginbay Ugurlu from Istanbul Aidyn University delved into the analysis of COVID-19's effects on trade in the V4 and Germany. Professional representative Petra Smejkalová introduced the initiative to implement uniform accounting standards across all industrial segments. Amid the growing global concern for environmental sustainability, the conference explored the role of IFRS in incorporating environmental issues into financial disclosures.

Participants engaged in discussions on the evolving landscape of nonfinancial reporting and its impact on decision-making processes for investors, regulators, and other stakeholders. The conference aimed to shed light on the crucial intersection between financial and nonfinancial reporting, emphasizing the need for businesses to transparently communicate their environmental initiatives, risks, and performance metrics.

Given the urgency of addressing environmental challenges, the conference provided a platform for experts to share insights on how financial reporting standards could be adapted to better capture and communicate a company's commitment to sustainable practices. The discussions underscored the conference's commitment to addressing not only the numerical aspects of financial reporting but also the broader spectrum of information that contributes to a comprehensive understanding of a company's social and environmental impact.

This year, the conference proceedings predominantly returned to face-to-face presentations, fostering enhanced interactions, discussions, and networking opportunities. While in-person participation took precedence, online options were also available, with some participants opting for virtual engagement. The combined approach received positive feedback from both in-person and online attendees.

In summary, the 11th edition of the conference offered valuable insights into the current landscape of accounting and finance, highlighting the pertinent issues of sustainability and non-financial reporting. The conference successfully achieved its goal of facilitating the widespread sharing of research ideas, contributing to the inspiration of new trends in the explored areas.

TESTIMONIALS

I am delighted to share my positive experience at the 11th International Scientific Conference on "IFRS: Global Rules & Local Use - Beyond the Numbers" held at Metropolitan University Prague. This conference, a hallmark event at the start of each academic year, expertly combined in-person and digital formats, making it a truly inclusive and global affair. The dedication and effort of the organizing team from Metropolitan University Prague and Anglo-American University were evident in the smooth-running and engaging atmosphere of the conference. The focus on 'beyond the numbers' brought to light the diverse applications of IFRS in different contexts, fostering insightful discussions and valuable learning. The breadth of topics discussed was particularly impressive, setting a high bar for academic and professional discourse in the field. I eagerly look forward to next year's event and congratulate the organizers for their outstanding work.
Ladislava Knihová (University of Finance and Administration, Prague)

In my opinion, the conference provided an opportunity for experts to meet and exchange their knowledge and views on financial and non-financial reporting. I consider that a significant contribution of this year's conference was that attention was turned to the IFRS system and the evaluation of the effects that were expected from its adoption. Although the scope of the phenomena reported has expanded, the original intention - to facilitate the spillover and allocation of capital and thus contribute to increasing the efficiency of its allocation - has not changed. Almost twenty years after the introduction of IFRS into practice, the question of whether and to what extent this original intention is being fulfilled - in the conditions of individual national systems, with their specific cultural, economic, political, and social specificities, or what problems they encounter - is becoming relevant. And it was at the conference that this question was raised, and I consider this to be very useful. However, the opportunity for personal meetings between scientists and experts in the field and discussions on the topics discussed can be considered equally beneficial.
Dana Kubíčková (Metropolitan Universtity Prague)

Attending this conference is always a pleasure. I particularly appreciate the organizers’ effort to provide an opportunity for interested researchers to attend this event in person or online! I truly recommend this experience to all academics, but also to Ph.D. students, who will have the chance to learn from the feedback received!
prof. Madalina Dumitru (Academia de Studii Economice din Bucuresti)