International Financial Reporting Standards (IFRS), Corporate Social Responsibility, and Sustainable Development

Parmindar Singh
Additional contact information
Parmindar Singh: Crescendo International College, Malaysia

Journal of Accounting, Finance, Economics, and Social Sciences, 2023, vol. 8, issue 1, 27-35

Abstract: This paper describes a brief evolution of IFRS and its benefits. It then explains the organized hypocrisy of firms that, on the one hand, eulogized the importance of IFRS and quality financial reporting while, on the other hand, using corporate social responsibility (CSR) and sustainable development as a form of earnings management to depress profits, so that a firm’s share of fair tax is not paid to the State; as such there is some form of organized hypocrisy. This article also explains what can be done to address tax avoidance. Since the precursor of tax avoidance is earnings management, a simple cosmetic earnings management is analyzed using Benford’s Law for a public-listed Cambodian firm. This paper aims to illuminate that once cosmetic earnings management occurs, a grander scale of earnings management may occur for tax avoidance purposes, which, while legal, is unethical. This study sheds some light on the discourse of tax avoidance, which may become rampant among Cambodian firms in the future.

Keywords: IFRS; CSR; Earnings management; Tax avoidance; Organisational culture; Benford’s Law (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://jafess.com/index.php/home/article/view/57 Abstract page (text/html)
https://jafess.com/index.php/home/article/download/57/45 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:euj:jafess:v:8:y:2023:i:1:id:57

DOI: 10.62458/jafess.160224.8(1)27-35

Access Statistics for this article

More articles in Journal of Accounting, Finance, Economics, and Social Sciences from CamEd Business School
Bibliographic data for series maintained by Narin Choeun ().