Financial reporting transformation: the experience of Turkey

Ali Alp and Saim Ustundag

CRITICAL PERSPECTIVES ON ACCOUNTING, 2009, vol. 20, issue 5, 680-699

Abstract: From the viewpoint of a developing country which is in need of foreign capital and foreign investments to finance its economic growth, the need for high quality financial information has vital importance. The need for IFRS in Turkey was brought up by the same reasons as a developing country and as an emerging market. With the internationalization of capital markets and the increased volume of international investments, companies functioning in Turkey needed to provide high quality financial information to access financial resources. Furthermore, internationally accepted and reliable financial information is also needed for the overseas customers of the domestic companies. Another reason facilitating the need for IFRS is Turkey's candidation for European Union membership.

Keywords: IASB; SME; Accounting standards; Turkey (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (21)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:crpeac:v:20:y:2009:i:5:p:680-699

DOI: 10.1016/j.cpa.2007.12.005

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