A Perceptual Study of the Implementation of International Financial Reporting Standards for Enhancing Accounting Financial Transparency

Pinky Dholakia

The IUP Journal of Accounting Research and Audit Practices, 2013, vol. XII, issue 1, 63-79

Abstract: A financial reporting system supported by strong governance, high quality standards and firm regulatory framework is the key to economic development. Indeed, sound financial reporting standards underline the trust that investors place in financial reporting information and thus play an important role in contributing to the economic development of a country. This leads us to study the implementation of International Financial Reporting Standards (IFRS) for rapid growth of international trade and internationalization of firms. The IFRS issued by the International Accounting Standard Board (IASB) is increasingly being recognized as Global Reporting Standards. To date, there has been limited research conducted into the effects/implications of IFRS adoption. Thus, the present study aims to identify and evaluate the materiality of the impact of IFRS adoption on companies’ financial position and performance, and examine individual standards and their effect on shareholders’ equity. A model has been proposed to find out the views of Chartered Accountants (CA), Company Secretaries (CS), Postgraduates, Doctorates and ICWA, who are mainly concerned with the standards so that their acceptability towards IFRS can be assessed.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjar:v:12:y:2013:i:1:p:63-79

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