Impact of ambiguity tolerance and tertiary education on professional judgment

Yingying Han, Parmod Chand and Rajni Mala

Accounting Forum, 2019, vol. 43, issue 4, 426-447

Abstract: We examine whether tertiary accounting education enables students to develop relevant expertise to tolerate ambiguity in International Financial Reporting Standards (IFRS) and exercise appropriate professional judgment. The results show that third-year accounting students are more tolerant of ambiguity than first-year students, though the difference is insignificant. A significant difference exists between first-year and third-year students in their preference for using IFRS across ten financial reporting contexts. The findings reveal that IFRS-based tertiary accounting education programs have a positive impact on preparing accounting students to practice under IFRS regime, hence accounting standard setters and educators should focus on enhancing such programs.

Date: 2019
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DOI: 10.1080/01559982.2019.1569813

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