the reasons of the companies for the insistent application of IAS/IFRS in the financial reporting. An
unified system of the universal accounting norms was required. As IASC, currently IASB, proved
able to be represented by European expert bodies, and European experts were trained within
important accounting cabinets, all these succeeded to convince the European Union that the
amendment of the European directions specific to the financial reportings shall be ensured in order
to comply with IFRS.