Crime Against Humanity: the Holy GAAP, 10

Then the surrender of our sovereignty perpetrated by our politicians to the European Community takes the form of the transposition of Community legislation into national law, so the adoption of the IAS/IFRS by the European Community becomes their adoption by the Member State Italy, which in turn exercises the options provided for in it:
“LEGISLATIVE DECREE of 28 February 2005, No 38, Exercise of the options provided for in the Article 5 of regulation (CE) No 1606/2002 with regard to international accounting standards.”
“Art. 1. International accounting standards
1. For the application of this decree, by «international accounting standards» it is meant the international accounting standards and related interpretations adopted in accordance with the procedure laid down in Article 6 of regulation (EC) no 1606/2002 of the European Parliament and of the Council, of 19 July 2002.” Just in case it wasn’t clear, as above.
“Art. 2. Field of application
1. This decree applies to: […]
c) the Italian banks […]; the Italian finance companies […] that control banks or banking groups […]; the Italian mixed financial holding companies […] that control one or more banks or finance companies […] if the banking field has the larger size within the financial conglomerate […]; the stock broking companies […] (SIM) (SIM is the Italian acronym of Società di Intermediazione Mobiliare, stock broking company, author’s note); the finance companies controlling SIMs or groups of SIMs […]; asset management companies […]; finance companies […]; finance companies controlling finance companies […], or registered finance groups […]; pawn brokers […]; electronic money institutions […]; payment institutions […]” Italy exercises the option given to Member States to the fullest, by covering more or less anyone that handles scriptural money, thus paving the way to enable them all to join the party.