scholarly journals International Financial Reporting Standards and Reporting Quality of Quoted Firms in Nigeria

2021 ◽  
Vol 9 (1) ◽  
Author(s):  
Yahaya Yusuf ◽  
Suleiman Hadiza Ahmed
Keyword(s):  
Financial Reporting ◽  
Reporting Quality ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards

Empirical Study on the Effect of Adopting the International Financial Reporting Standards (IFRS) on the Quality of Earnings using Beneish Model in a Sample of Banks Listed in the Iraqi Stock Exchange

2021 ◽  
Vol 39 (11) ◽  
Author(s):  
Zahraa Nasser Ali ◽  
Hakeem Hammood Flayyih
Keyword(s):  
Financial Reporting ◽  
Commercial Banks ◽  
Stock Exchange ◽  
Financial Statements ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Global Capital ◽  
Financial Reporting Standards ◽  
The Impact

The need for international financial reporting standards (IFRS) emerged due to the increasing degree of interdependence between global capital markets and the need for investors to obtain reliable and honest financial information in expressing economic events, in order to find a common financial language, and this is what IFRS provide. Nevertheless, the research aimed to measure the impact of the adoption of IFRS on the quality of earnings in the Iraqi banks listed in the Iraqi Stock Exchange for a sample of 30 banks. The Beneish model was used to measure the quality of earnings, while Mann-Whitney was used to measure and prove the hypothesis of the research. However, the research reached a set of conclusions, including that although the IFRS should contribute to improving the quality of financial reporting, the adoption of these standards in commercial banks listed in the Iraq Stock Exchange did not contribute to achieving quality in earnings even after adopting those standards. Furthermore, a Beneish model is an important tool for auditors, financial analysts, investors, and creditors who have the ability to understand the financial statements or those who have a reasonable understanding of the nature of those financial statements in measuring the quality of earnings, because it is a simple and easy to implement tool.

scholarly journals GLOBALISATION OF FINANCIAL REPORTING STANDARD OF LISTED COMPANIES IN ASEAN TWO: MALAYSIA AND SINGAPORE

2017 ◽  
Vol 16 (1) ◽  
Author(s):  
Daw Tin Hla ◽  
Abu Hassan bin Md Isa
Keyword(s):  
Corporate Governance ◽  
Financial Reporting ◽  
Stock Exchange ◽  
Reporting Quality ◽  
Financial Reporting Quality ◽  
Annual Reports ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Reporting Standard ◽  
Financial Reporting Standards

Malaysia and Singapore are the top two successful economies in the ASEAN region. They are converging their national accounting standards with the International Financial Reporting Standards (IFRSs) in an attempt to be more globalised. The globalisation of financial reporting standard is not just accounting focus but also for enhancing the quality and transparency of financial reporting of the firms in these countries. Investors and the other stakeholders rely on financial information reported by the firms on their websites to enable the information to access globally. This study focuses on the globalisation of financial reporting standards, corporate governance and transparency practice by the firms listed on Bursa Malaysia and Singapore. It is to analyse the level of financial reporting quality of the firms in compliance with the International Financial Reporting Standards (IFRS) in their annual reports by using disclosure analysis. Additionally, it determines the association between the financial reporting quality with IFRS compliance, and corporate governance and transparency practice of the firms listed on the main markets of Bursa Malaysia and main board of Singapore Stock Exchange (SGX), using multiple regression analysis. The finding of this study highlights the association of higher level of financial reporting quality with IFRS compliance of the firms, and their good corporate governance and transparency practice are positively associated in these two countries. This study also provides some opportunities to achieve sustainable convergence with the International Financial Reporting Standards of the firms by improving corporate governance and transparency in ASEAN countries.Keywords: International Financial Reporting Standards; Corporate Governance; Transparency and Disclosure Practice; Malaysia and Singapore.

scholarly journals Orientation of the development of vietnam financial reporting standards for small and medium - sized entities compatible with the international financial reporting standards for small and medium sized entities

2015 ◽  
Vol 18 (3) ◽  
pp. 41-49
Author(s):  
Hung Xuan Nguyen ◽  
Thuy Xuan Ho
Keyword(s):  
Financial Reporting ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
International Accounting ◽  
International Accounting Standards ◽  
Reporting Standards ◽  
Financial Reporting Standards ◽  
Reporting Systems ◽  
Development Orientation

Differences in financial reporting systems for small and medium sized entities(SMEs)and large ones have caused plenty of controversies in the last few decades, especially after the introduction of the International Financial Reporting Standards for Small and Medium sized Entities (IFRS for SMEs) by International Accounting Standards Board (IASB). Bohusova & Blaskova [3]suggested that there existed a preference in many developing countries where the quality of financial reporting was normally considered sub-average for applying the IFRS for SMEs due to strong demand in international economic integration and higher quality financial reporting standards, to which Vietnam is also no exception. Therefore, further research of the IFRS for SMEs in Vietnam is highly desired. This paper shall present a review of concepts of SMEs and the IFRS for SMEs, followed by a comparison of some notable differences between the IFRS for SMEs and the current Vietnamese Accounting Standards (VAS) for SMEs. A summary of many worldwide, mainstream thoughts of the development of financial reporting standards for SMEs is also included. On that basis, prospective proposals for the development orientation of financial reporting standards for SMEs in Vietnam are suggested in order to help Vietnamese SMEs to meet the universal trend of convergence of international accounting.

scholarly journals International financial reporting standards (IFRS) as a change agent in Ukraine

2013 ◽  
Vol 2 (3) ◽  
pp. 139-151 ◽  
Author(s):  
Jessica Hong Yang ◽  
Nada Kakabadse ◽  
Dmytro Lozovskyi
Keyword(s):  
Financial Reporting ◽  
Reporting Quality ◽  
International Financial Reporting Standards ◽  
Future Research ◽  
Software Systems ◽  
Reporting Standards ◽  
Factors Affecting ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Implementation Costs

The study aims to examine the perception of key actors regarding the costs and benefits that result from adopting International Financial Reporting Standards (IFRS) in Ukraine. Design/Methodology/Approach – The authors conducted a questionnaire survey in order to identify perceptions of financial managers of Ukrainian listed firms regarding the benefits and the costs associated with transition to IFRS. Our results showed that IFRS implementation impacts on internal reporting quality, the relationship with customers, creditors and shareholders, the access to international markets and external financing. It also indicated that financial managers have serious concerns about implementation costs related to the introduction of IFRS. These costs relate to training, instruction on IFRS adoption and translation of current IFRS, changes in software systems, double purpose accounting and deadlines for IFRS adoption and consulting services. Whilst this research has established a general model that consists of six factors, affecting IFRS relevance to Ukraine, the extent of interrelations between these factors is not clear. Thus, it may be of a great interest for future research to explore this issue in more detail and, in particular, conduct empirical research to determine the extent of interdependency between six factors in the model. The results and conclusions of this research can be of a great interest to policy makers and business practitioners since all public companies in Ukraine are obliged to adopt IFRS from 2012. It might be of interest to conduct this research on results of mandatory implementation of IFRS in Ukraine while taking into account the circumstances that suggested almost no relevance of the international accounting standards to the country at the moment of their application. This is the first metrical study that discusses the relevance of IFRS to Ukraine’s national needs.

A Perspective on the SEC’s Proposal to Accept Financial Statements Prepared in Accordance with International Financial Reporting Standards (IFRS) without Reconciliation to U.S. GAAP

2008 ◽  
Vol 22 (2) ◽  
pp. 241-248 ◽  
Author(s):  
Karim Jamal ◽  
George J. Benston ◽  
Douglas R. Carmichael ◽  
Theodore E. Christensen ◽  
Robert H. Colson ◽  
...  
Keyword(s):  
Financial Reporting ◽  
Financial Statements ◽  
Securities And Exchange Commission ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reports ◽  
Financial Reporting Standards ◽  
Regulatory Changes ◽  
Better Than

SYNOPSIS: The Securities and Exchange Commission (SEC) recently issued a call for comment on a proposal to accept financial statements prepared in accordance with International Financial Reporting Standards (IFRS) without reconciliation to U.S. GAAP. Accounting researchers have attempted to assess the quality of IFRS using different methods and criteria. While we are skeptical of drawing direct conclusions about the SEC’s proposal based on this research, there is adequate evidence that both IFRS and U.S. GAAP provide useful information to investors and other users of financial statements. Moreover, we see no conclusive research evidence that financial reports prepared using U.S. GAAP are better than reports prepared using IFRS. The prudent approach when faced with alternatives with no clear difference in quality is to promote competition among them, which supports adopting the SEC’s proposal to permit foreign private issuers a choice between IFRS and U.S. GAAP. Furthermore, to help improve U.S. and international GAAP through standards-setting competition, we recommend that the Commission extend the choice of IFRS to U.S. companies, and require all companies to indicate clearly whether they are filing under U.S. GAAP or IFRS. Finally, we recommend that the Commission and its staff investigate and seek feedback on the educational consequences of its proposed actions. This attention will help educators to better prepare future professionals to implement these proposed regulatory changes.

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