The need for the adoption of International Financial Reporting Standards (IFRS): some explanations for the pace of implementation

Marianne Ojo

MPRA Paper from University Library of Munich, Germany

Abstract: Whilst the impact of globalisation and harmonisation is currently being witnessed around the globe, and the need to embrace the adoption of International Financial Reporting Standards (IFRSs) is becoming increasingly evident, certain jurisdictions have been much quicker in their embrace, adoption and adaptation of International Financial Reporting Standards, than others. As well as highlighting the need for the adoption of International Financial Reporting Standards, this paper also aims to provide an explanation for the pace of response in the adoption and adaptation of IFRSs in selected jurisdictions. It does so partly through a consideration of the impact of accounting and finance theories which have impacted the standard setting systems of certain jurisdictions.

Keywords: IFRS; accounting; finance theories; creative accounting; accounting reforms; transparency; financial reporting; disclosure; rules based; principles based approach (search for similar items in EconPapers)
JEL-codes: D0 D8 E02 G01 G3 K2 M41 (search for similar items in EconPapers)
Date: 2012-06-09
New Economics Papers: this item is included in nep-acc
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