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PROJECT TOPIC AND MATERIAL ON A REVIEW OF THE CURRENT DEBATE ON THE DETERMINANTS AND CONSEQUENCES OF MANDATORY IFRS ADOPTION
The Project File Details
- Name: A Review Of The Current Debate On The Determinants And Consequences Of Mandatory Ifrs Adoption
- Type: PDF and MS Word (DOC)
- Size: [70 KB]
- Length:  Pages
This paper aims to analyze the economic and financial reporting consequences of International Financial Reporting Standards (IFRS) adoption.
The survey of the IFRS adoption literature shows that the implementation of IFRS has been successful in reducing information asymmetry, improving the quality of information for users, enhancing transparency and comparability and positively influencing capital markets. In general, the positive effects of IFRS are associated with firms in strong enforcement regimes that have incentives to comply. The survey find enforcement of IFRS to be a recurring theme throughout the literature reviewed and is therefore an area which requires development.
In particular, there is a need to develop a mechanism for the enforcement of accounting standards internationally. Hence, there is a need for collaboration between the International Accounting Standards Board and regulatory bodies around the world to maximize the effectiveness of international accounting standards.