Abstract:

The adoption of international financial reporting standards (IFRS) by different countries attests of their engagement  in  the process  of  harmonization.  A  process  that  globalization  of  the  economy  and  the importance of transparency in financial markets require.

In Morocco, we became aware of this situation and of the need to harmonize Moroccan accounting standards with IFRS standards in order to attract more investors.
 
In March 2002, the European Parliament voted to require that all listed companies in the  European Union apply IFRS beginning in the fiscal year 2005. Indeed, the first application of IFRS concerns the consolidated accounts published in 2005 in Europe. Companies listed on European markets, in 2005, must present their consolidated accounts in accordance with IFRS.
 
This requirement also implies that domestic and foreign subsidiaries of these companies, which fall within  the  scope  of  consolidation,  must  also  produce  their  accounts  following  the  same  rules  and principles of the parent company and, therefore, in accordance with IFRS.