The victory in the world of the internationalization of the markets is imminent, for this reason, it has become necessary to adapt the accounting in order to show financial statements with homogeneous information, both at the point of issue (accounting) and the revision point. (audit), they are in accordance with the world economic reality that “financial capitalism” has been imposing since the mid-20th century; This means that a company may have resources from different investors in the world, due to which it is necessary to make the information homogeneous, understandable by investors from different countries.
With the new philosophy of internationalizing capital, it is considered to be the way to help developing countries rise in status, the conception that preached that development for poor countries would be achieved with the granting of preferential treatment or foreign aid programs.
It can be seen that it is thanks to an efficient allocation of resources that has been achieved, the transition from underdevelopment to more advanced states in some countries, just in a couple of decades, so it is a good argument to facilitate the standardization of standards accountants, the importance of linking information with development is demonstrated.
There are two aspects to the standardization process, one public, based on public international development, and the second private, issued by experts in the accounting area.
The first steps in the internationalization of accounting standards take place in the EU, where all member countries take on the task of homogenizing legislation in accordance with IASC pronouncements.
The IASC standards have progressively gained length and depth, as a consequence of the continuous revision process of the same, where professionals from different countries intervene, with the support of professionals from other areas who advise and complement financial aspects.
Those in charge of reviewing the modifications, proposals on accounting standards are organized in different working groups.
The functioning of the IASC rests on the following collegiate bodies:
- The council, which chairs the commission and approves draft standards, Interpretations Committee, makes official interpretations of the standards, Advisory Group, Financial Analysts Group, Finance Executives and Stock Exchanges, seeking the widest possible participation of developers and financial users.
The work groups are formed for the treatment and development of specific topics.
The advisory council's mission is to promote acceptance of international accounting standards and increase the credibility of the IASC's work.
We must highlight the organization of the work and research groups, which are elected from the different member countries, to analyze a subject under study, and after a certain period of time present their report for commissions from other countries to analyze and qualify the study carried out, we consider this participatory character gives more validity to the IASC's pronouncements, as well as the continuous process of revision of the norms, it seems to us that it is important because they will always be in accordance with the economic reality of the moment.
In our opinion, accounting globalization and standardization transcends the misconceptions of a civilization and a culture dependent on non-proprietary standards with which we must modify an entire legal, environmental and social sphere in accounting regulation and standardization.
Globalization and Accounting Standardization in our opinion is nothing more than a strategy of domination, without reversal, without restraint.
It is a force of social and economic gravity. It is an inevitable step towards full adoption of Accounting Standardization and the sole thought of Globalization.
The obstacle path that we must follow is not uncertain, since the conditions imposed by those who have the power, the authority, the technology, increasingly weighs on those of us who undergo mechanisms without the certainty of benefits that will bring to our accounting procedures and practices.
The purposes of the Globalization and Standardization of an entire accounting practice are nothing more than the interests pursued by Financial Capital with the aim of market and power relations.
Although we are part of a global capitalist system for the free market and free movement of capital, in which the immaterial plays the dominant role before other societies and economies, we cannot be blinded by the consequences that the future will bring us. accept a globalization and standardization improper to our benefits and interests pursued by our companies, our economy, in addition to how uncertain it would be to sit at the table with our world partners and evade, not accept one or another rule that is harmful to our country and just adopt a whole accounting standardization so as not to lose the bonds of friendship, in addition to the dependency, with those who are today world authority.
Globalization encompasses an entire planet and is a unique thought, which finds no borders or limits, only open and permanent spaces for changes, free negotiations, free agreements, to accept or have with or without a world unification accounting standards, market without borders, without restrictions.
But WITH BENEFITS FOR ALL? Their response to us is an apparent mystery or at least they have not sold it. At our discretion we face an abyss that tests our standards, our principles, our benefits, our capabilities, but above all our identity.
Regarding “ Accounting Globalization ” and the adoption of international standards: The dark limits of a false quarter is expressed as follows 1:
The "global village" appears as a village that recognizes the rest of the world, which has been predestined to gnaw at the apocalyptic fate outlined by the market economy.
The word globalization has become so widespread that today it is present, recreated and manipulated, in the language codes of the communities of specialists; in the daily jargon of businessmen, as symbolism of a "new age"; even serving to explain the most dissimilarities of daily life.
It is good that you want to make way for the new world of information, technology, the market but not without being prepared, you cannot reach the top of a mountain without first having climbed it, (in fact we think that reaching the
The aforementioned summit is something slightly utopian since probably receiving a little charity and making good use of the little autonomy of what little we have left, we will manage to stay on our feet to try to continue surviving even if it is in the root of the mountain) without before having all the elements, the tools, in short the means to undertake the extensive and difficult scale; If this were not the case, we would fall into the abyss, or, being very optimistic, we would suffer countless and endless wounds from the desire to persevere to reach the top, and this great opening that is touching us can be likened.
We cannot think of reaching its peak (in fact, we will never reach it, but they will make us believe that we are following the right path) without first looking at our weaknesses, without first determining how many capacities our country has, our generally small companies to compete, to negotiate, to confront, to have alternatives in the event of not achieving the objectives.
One of the conditions with which the market plays is the risk that is taken before certain businesses, we do not know how prepared our entrepreneurs and professionals are to take risks with which we will advance or simply fall behind, after the search for better economic conditions and social.
All these thoughts, conditions have not been alien to the accounting profession, since in some way it seems that a whole unification in accounting standardization for the presentation of financial statements subject to auditing, within many more rules that govern the profession is inevitable.
But in our opinion the interests of a few, those who have the power of the market prevail over so many involved that they do not have that economic equality and therefore equity in decision and opinion; Of course, without leaving state interests out, they are the ones who in the long run make decisions for so many involved and affected, determined by a globalization that is putting pressure on us and encompassing all of us with consequences that cannot be more than certain.
A free borders market would be ideal, but to the extent that our Colombian market allows it, that is, to the extent that it provides efficient responses to make way for what in the future will affect our market as little as possible.
If particularly it were a matter of wanting and under the reality that today the decision shelters us with a more patriotic air than anything else, it would be not to opt for this standardization, since we know that it is another imposition, one more step in the colonization of clear and specific North American interests that in the long run will force us to a greater submission and therefore more dependency.
But as we know, the negotiation has been another, and we can not only remain in the reproaches and regrets that would only mean to lend a hand digging our grave, but honestly today we do not want to be in the shoes of our rulers, because although today Colombian is a reflection of bad administrations we have to be aware that making the development of the country sustainable and viable is more and more a task for magicians illusionists than for political administrators, that is why we insist that under the circumstances the best thing is to try to the maximum that the blow is the least surprising and strong, that is to say that we do not sit down to grumble the why of this and that rather we choose to prepare ourselves since there is still a time light if we know that the standards have already been issued,both for publicly traded companies as well as for SMEs and companies in the public sector then why not face the issue and analyze in search of getting a good slice.
Why not detoxify the organisms that oversee our profession, that ours be the ones that create the norms and regulate them, and not that these organisms are bogged down with lawyers and economists in search of the benefit of some unions.
We think that the above is something essential to be able to direct them and direct us towards what is coming, now if the Ministry of Finance and the Ministry of Foreign Affairs carry out negotiations. Why is the Ministry of Education not included, since it is vital for this process, it is the foundation, the future of the profession.
Ultimately, what we could suggest is not to be ignorant, to play a more active role in the environment, because although this globalization and accounting standardization does not depend on us directly if it affected us and in what way, we must act to be competitive, continue firm in each battle because although in the long term the war will be almost lost, let us not be left with the sadness that we surrender and surrender to their mercy.
