The adopting process of international financial

International financial reporting standards

It is quite possible in the emerging countries context, the political system is a priority factor in the socio-economic related fields rather than the accounting ones. Actually, this observation has been confirmed through the study conducted by Zeghal and Mhedhbi dealing with a sample examination composed of 32 DCs having adopted the IAS and some other 32 countries which have not adopted them. Through a sample of 72 locally listed companies, the authors have shown that Egyptian companies continue to encounter difficulties in implementing IFRS, given the disparities between the IFRS spirit and philosophy in respect of the local accounting traditions and cultures. Finally, the sixth concluding section is consecrated to present the research findings along with its limitations. Noteworthy, Tunisia has been a pioneering world country, to join the international accounting harmonization movement. Within the framework of this research, the major focus of this study is centered around examining the determinants for adopting international standards via country characteristics related factors. Comparative international accounting 8th ed. This rapprochement or merger involves three aspects, namely, the change of name, headquarters and structure which shows mimicry between the U. The Journal of Financial Statement Analysis,

Abacus, 34, 2, Data collection sources To note, all information relevant to the studied factors has been gathered from various data sources. Consequently, this result invalidates the hypothesis stating that the more a developing country is open to the outside world, the more likely it is to adopt the IFRS.

He has considered thatover the last two decades, the Anglo-Saxon culture has deeply influenced national cultures.

In fact, countries having adopted the IFRS have been overwhelmingly dominated by a common law type legal system.

ifrs adoption

According to the findings of the study, although it is possible to observe that all G20 countries except USA accept IFRS as the global accounting standard, this does not lead to the adoption of IFRS at the national level.

On the academic level, the results highlighting the IFRS relationship with economic growth are controversial.

list of accounting standards

It seems obvious, then, that an advanced level of education is likely to facilitate the IFRS mplementation. Using a logistic regression analysis, the authors show that factors such as firm size, financing needs and financial performance significantly explain the decision of adopting international standards.

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Current literature on IFRS usually focuses on single countries or comparisons of few countries.

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