The effects of globalization on financial reporting
Yükleniyor...
Tarih
2005
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
İstanbul Ticaret Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Over the last few years there has been a significant increase in the acceptance of International Accounting Standards (IASs) and International Financial Reporting Standards (IFRSs) which are issued by the International Accounting Standards Board (IASB). Many countries are adopting the IASs/IFRSs using various approaches. These various approaches to converge and harmonize include adoption of IASs/IFRSs in its entirety, full adoption of IASs/IFRSs with time lags, selective adoption of IASs/IFRSs and countries developing national standards based on IASs/IFRSs. Given this divergence in adoption of IASs/IFRSs, national standard setters in many countries that are adopting IASs/IFRSs are struggling to impose standards that reflect the perspectives and needs of their respective users. This study seeks to examine issues that affect †the adoption and implementation of IASs/IFRSs. Using countries from the South Pacific region, namely Australia, New Zealand, Fiji and Papua New Guinea, this study provides examples of how these countries have adopted IASs/IFRSs. Importantly, this study identifies various factors that should be considered and proposes actions to be taken by relevant stakeholders in countries adopting IASs/IFRSs. In conclusion, we reiterate the misconception that it is not a case of ‘flicking a switch’ to comply with IASs/IFRSs. We suggest that country specific contextual factors should be considered in adopting IASs/IFRSs.
Açıklama
Anahtar Kelimeler
International Financial Reporting Standards, convergence, harmonization, adoption, changes
Kaynak
The effects of globalization on financial reporting
