IDEAS home Printed from https://ideas.repec.org/a/bla/ausact/v26y2016i3p284-290.html
   My bibliography  Save this article

Have Canada, Japan and Switzerland Adopted IFRS?

Author

Listed:
  • Christopher W. Nobes
  • Stephen A. Zeff

Abstract

type="main"> Although many countries have passed laws to require the use of ‘IFRS as issued by the IASB’ for certain types of financial reporting, that is not the typical approach to adoption of IFRS (International Financial Reporting Standards) in major developed countries. This paper uses Australia and Pakistan as examples of minor and major adjustments to the content of IFRS. Then it uses Canada as an example of restricted scope of mandatory application of IFRS. This is compared to extensive voluntary adoption in Switzerland and increasing voluntary adoption in Japan. The paper asks what ‘adoption’ means in the context of Canada, Japan and Switzerland. Finally, the paper looks at how companies in many countries limit the potential value of international comparability by not affirming compliance with ‘IFRS as issued by the IASB’ even when they achieve it.

Suggested Citation

  • Christopher W. Nobes & Stephen A. Zeff, 2016. "Have Canada, Japan and Switzerland Adopted IFRS?," Australian Accounting Review, CPA Australia, vol. 26(3), pages 284-290, September.
    • Handle: RePEc:bla:ausact:v:26:y:2016:i:3:p:284-290
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1111/auar.12131
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Elad, Charles, 2015. "The Development of Accounting in the Franc Zone Countries in Africa," The International Journal of Accounting, Elsevier, vol. 50(1), pages 75-100.
    2. Geoffrey Whittington, 2005. "The adoption of International Accounting Standards in the European Union," European Accounting Review, Taylor & Francis Journals, vol. 14(1), pages 127-153.
    3. Lisa Evans & Rachel Baskerville & Katariina Nara, 2015. "Colliding Worlds: Issues Relating to Language Translation in Accounting and Some Lessons from Other Disciplines," Abacus, Accounting Foundation, University of Sydney, vol. 51(1), pages 1-36, March.
    4. Christensen, Hans B. & Hail, Luzi & Leuz, Christian, 2013. "Mandatory IFRS reporting and changes in enforcement," Journal of Accounting and Economics, Elsevier, vol. 56(2), pages 147-177.
    5. Angus Thomson, 2009. "Comment: Australia's Adoption of IFRSs–A Clarification from the AASB," Australian Accounting Review, CPA Australia, vol. 19(2), pages 153-153, June.
    6. Holger Daske & Luzi Hail & Christian Leuz & Rodrigo Verdi, 2008. "Mandatory IFRS Reporting around the World: Early Evidence on the Economic Consequences," Journal of Accounting Research, Wiley Blackwell, vol. 46(5), pages 1085-1142, December.
    7. Street, Donna L. & Gray, Sidney J. & Bryant, Stephanie M., 1999. "Acceptance and Observance of International Accounting Standards: An Empirical Study of Companies Claiming to Comply with IASs," The International Journal of Accounting, Elsevier, vol. 34(1), pages 11-48.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Matthew J. Bloomfield & Ulf Brüggemann & Hans B. Christensen & Christian Leuz, 2017. "The Effect of Regulatory Harmonization on Cross‐Border Labor Migration: Evidence from the Accounting Profession," Journal of Accounting Research, Wiley Blackwell, vol. 55(1), pages 35-78, March.
    2. Wakil, Gulraze & Petruska, Karin A., 2022. "Does mandatory IFRS adoption affect large and small public firms' accounting quality differently? Evidence from Canada," Advances in accounting, Elsevier, vol. 57(C).
    3. Akisik, Orhan & Gal, Graham, 2023. "IFRS, financial development and income inequality: An empirical study using mediation analysis," Economic Systems, Elsevier, vol. 47(2).
    4. Esther Pittroff, 2021. "The legitimacy of global accounting rules: a note on the challenges from path-dependence theory," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 25(2), pages 379-396, June.
    5. Stewart Jones & Nurul Alam, 2019. "A machine learning analysis of citation impact among selected Pacific Basin journals," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 59(4), pages 2509-2552, December.
    6. Nobes, Christopher, 2018. "Lessons from misclassification in international accounting," The British Accounting Review, Elsevier, vol. 50(3), pages 239-254.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Nobes, Christopher, 2018. "Lessons from misclassification in international accounting," The British Accounting Review, Elsevier, vol. 50(3), pages 239-254.
    2. Jones, Stewart & Finley, Aimee, 2011. "Have IFRS made a difference to intra-country financial reporting diversity?," The British Accounting Review, Elsevier, vol. 43(1), pages 22-38.
    3. Roberto Aprile & Laura Bini, 2018. "The role of institutions in the process of global convergence to IFRS," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2018(2), pages 111-134.
    4. Jenice Prather-Kinsey & Francesco De Luca & Ho-Tan-Phat Phan, 2022. "Improving the global comparability of IFRS-based financial reporting through global enforcement: a proposed organizational dynamic," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 19(3), pages 330-351, September.
    5. Christof Beuselinck & Philip Joos & Inder Khurana & Sofie van Der Meulen, 2017. "Which Analysts Benefited Most from Mandatory IFRS Adoption in Europe?," Post-Print hal-01745251, HAL.
    6. Humayun Kabir & Fawzi Laswad, 2015. "The Impact of Improvements in Institutional Oversight on IFRS Accrual Quality in Europe," Australian Accounting Review, CPA Australia, vol. 25(4), pages 428-444, December.
    7. Cătălina Florentina PRICOPE, 2016. "The role of institutional pressures in developing countries. Implications for IFRS," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(607), S), pages 27-40, Summer.
    8. Aboud, Ahmed, 2023. "Segmental reporting, accounting enforcement, and analyst forecast dispersion in the European Union," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 53(C).
    9. Manal Alidarous & Fouad Jamaani, 2021. "The Concurrent Effects of IFRS Mandate and Formal Institutional Quality on the Aftermarket Performance of IPO Firms in Emerging Countries," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 12(3), pages 320-344, May.
    10. Xiao Li & Jeffrey Ng & Walid Saffar, 2021. "Financial Reporting and Trade Credit: Evidence from Mandatory IFRS Adoption," Contemporary Accounting Research, John Wiley & Sons, vol. 38(1), pages 96-128, March.
    11. Clarkson, Peter & Gao, Ru & Herbohn, Kathleen, 2020. "The relationship between a firm’s information environment and its cash holding decision," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(2).
    12. Niclas Hellman & Jordi Carenys & Soledad Moya Gutierrez, 2018. "Introducing More IFRS Principles of Disclosure – Will the Poor Disclosers Improve?," Accounting in Europe, Taylor & Francis Journals, vol. 15(2), pages 242-321, May.
    13. Masahiro Enomoto, 2018. "Cross-Country Research on Earnings Quality: A Literature Review and Future Opportunities," Discussion Paper Series DP2018-06, Research Institute for Economics & Business Administration, Kobe University, revised Oct 2020.
    14. Palea, Vera, 2014. "Are IFRS value-relevant for separate financial statements? Evidence from the Italian stock market," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 23(1), pages 1-17.
    15. Hyunmi Ji, 2019. "The Impact of Interest Coverage Ratio on Value Relevance of Reported Earnings: Evidence from South Korea," Sustainability, MDPI, vol. 11(24), pages 1-11, December.
    16. Hans B. Christensen & Luzi Hail & Christian Leuz, 2021. "Mandatory CSR and sustainability reporting: economic analysis and literature review," Review of Accounting Studies, Springer, vol. 26(3), pages 1176-1248, September.
    17. Merz, Alexander, 2017. "What have we learned from SFAS 123r and IFRS 2? A review of existing evidence and future research suggestions," Journal of Accounting Literature, Elsevier, vol. 38(C), pages 14-33.
    18. Eliwa, Yasser & Haslam, Jim & Abraham, Santhosh, 2021. "Earnings quality and analysts’ information environment: Evidence from the EU market," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 42(C).
    19. Stephen A. Zeff & Christopher W. Nobes, 2010. "Commentary: Has Australia (or Any Other Jurisdiction) ‘Adopted’ IFRS?," Australian Accounting Review, CPA Australia, vol. 20(2), pages 178-184, June.
    20. Byard, Donal & Darrough, Masako & Suh, Jangwon, 2019. "There is No Evidence that Mandatory IFRS Adoption Significantly Decreased IPO Underpricing," SocArXiv b56u2, Center for Open Science.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ausact:v:26:y:2016:i:3:p:284-290. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=1035-6908 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.