Resumen

VILLANUEVA GARCIA, José; ZORIO GRIMA, Ana  y  GARCIA BENAU, Mª Antonia. Financial Supervisors, Corporate Governance and ifrs Fulfillment: the CNMV Case. Innovar [online]. 2015, vol.25, n.55, pp.89-100. ISSN 0121-5051.  https://doi.org/10.15446/innovar.v25n55.47198.

The International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB) and the US-GAAP are today the global benchmark in the convergence towards a global standard. IFRSs are used mainly in capital markets, although they lack a superstructure that guarantees a high quality accounting system. The European Union, in its new proposal for auditing regulations for public interest entities (PIE), gives a leading role to financial supervisors as the controllers of an adequate application of these norms in the drafting of financial statements. In this context, the aim of this paper is to contrast the work of Spanish financial supervisors in this respect, during the 2005-2010 period. First, we studied the degree of incompliance detected in the IFRS. Second, we contrasted the possible influence of a number of corporate governance attributes and corporate figures on the warning notices given to quoted Spanish companies by the National Securities Market Commission (CNMV for its acronym in Spanish).

Palabras clave : Warning notices; IFRS; IASB; corporate governance; financial supervision; CNMV.

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