Perceptions of professionals interested in accounting and auditing about acceptance and adaptation of global financial reporting standards

Orhan Bozkurt (), Mehmet İslamoğlu () and Yaşar Öz ()
Additional contact information
Orhan Bozkurt: Uludag University
Mehmet İslamoğlu: Bartın University
Yaşar Öz: Bartın University

Journal of Economics, Finance and Administrative Science, 2013, vol. 18, issue 34, 16-23

Abstract: Nowadays, one of the final aims of the institutions working on transparency and standardization of financial statements, and the publication of standards related to the profession of accounting & auditing has been to put into practice a uniform global set of standards which will be applicable in finance. Before 2000, in the case of a preference between IFRS & US GAAP regarding which should be internationally accepted uniform set of application, world public opinion used to accept U.S. Generally Accepted Accounting Principles (US GAAP) as reference. Today, great majority of the world takes IFRS as a reference. This study contains evaluations related to the results of research on the thoughts & perceptions of the professionals interested in accounting and auditing about application and development of international financial reporting standards as national financial reporting standards. As a result of the research, it was determined that those interested in accounting and auditing see significant advantages in the application of IFRS. Accountants and auditors think that in case IFRS is applied, comprehensibility and reliability of financial statements shall increase, at the same time accounting frauds shall decrease.

Keywords: International; Financial; Reporting; Standards; Turkish; Accounting; Standards; Benefit; Interpretation; Perceptions; of; Standards; Responsibility; Advantage; of; Application; of; International; Financial; Reporting; Standards (search for similar items in EconPapers)
JEL-codes: M40 M41 M42 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://jefas.esan.edu.pe/index.php/jefas/article/view/254/245 Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:joefas:0053

Access Statistics for this article

Journal of Economics, Finance and Administrative Science is currently edited by Nestor U. Salcedo

More articles in Journal of Economics, Finance and Administrative Science from Universidad ESAN 1652 Alonso de Molina, Santiago de Surco 15023, Lima, Peru. Contact information at EDIRC.
Bibliographic data for series maintained by ESAN Ediciones ().