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Perception of Accounting and Auditing Standards by Users in Context of Formation of Institutional Openness in Regulation

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  • Oleh Pasko

    (Sumy National Agrarian University, Sumy, Ukraine)

Abstract

The article is devoted to the perception evaluation of standards strength of accounting and auditing in the context of institutional openness of accounting and auditing regulators. For perception evaluation of the standards strength of accounting and auditing in Ukraine, in comparison with other jurisdictions, index from global competitiveness report 'Standards strength of accounting and auditing' is used. It is revealed that most of the countries from global competitiveness report use the same set of standards (IFRS, ISA) as Ukraine. However, Ukrainian users evaluate the strength of these standards much lower than in other jurisdictions. It is proven that such situation can be explained by the difference in the institutional environment of standards use. Such conclusion follows from the analysis of the institutional provisions of accounting theory. The necessity of improvement of institutional openness of regulator of accounting is substantiated by establishment of an independent regulator of accounting in Ukraine, which will regulate based on compromise rather than by consensus. Such approach will ensure the proper level of attraction of users to develop standards and other regulatory documents.

Suggested Citation

  • Oleh Pasko, 2017. "Perception of Accounting and Auditing Standards by Users in Context of Formation of Institutional Openness in Regulation," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 68-75, March.
    • Handle: RePEc:iaf:journl:y:2017:i:1:p:68-75
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    File URL: http://www.afj.org.ua/pdf/450-spriynyattya-standartiv-obliku-i-auditu-koristuvachami-v-konteksti-formuvannya-instituciynoi-vidkritosti-v-regulyuvanni.pdf
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    File URL: http://www.afj.org.ua/en/article/450/
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    References listed on IDEAS

    as
    1. Sadok El Ghoul & Omrane Guedhami & Jeffrey A. Pittman & Sorin Rizeanu, 2016. "Cross†Country Evidence on the Importance of Auditor Choice to Corporate Debt Maturity," Contemporary Accounting Research, John Wiley & Sons, vol. 33(2), pages 718-751, June.
    2. Peter Wysocki, 2011. "New institutional accounting and IFRS," Accounting and Business Research, Taylor & Francis Journals, vol. 41(3), pages 309-328, August.
    3. Pran Krishansing Boolaky & Barry J. Cooper, 2015. "Comparing the Strength of Auditing and Reporting Standards and Investigating their Predictors in Europe and Asia," Australian Accounting Review, CPA Australia, vol. 25(3), pages 292-308, September.
    4. Christian Leuz, 2010. "Different approaches to corporate reporting regulation: How jurisdictions differ and why," Accounting and Business Research, Taylor & Francis Journals, vol. 40(3), pages 229-256.
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    Cited by:

    1. Oleh Pasko, 2018. "Theories of Regulation in the Context of Modern Practice of Accounting Regulation," Oblik i finansi, Institute of Accounting and Finance, issue 2, pages 37-46, June.

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    More about this item

    Keywords

    accounting and auditing standards; IFRS; ISA; institutional accounting theory; accounting regulation; institutional openness;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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