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Perceived Benefits and Challeges of IFRS Adoption in Ghana: Views of Members of Institute of Chartered Accountants, Ghana (ICAG)

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  • Mbawuni, Joseph

Abstract

This paper provides an empirical evidence regarding the perceived benefits and challenges of International Financial Reporting Standard (IFRS) adoption in Ghana. It draws on rich body of knowledge in IFRS from both developed and developing countries to develop a conceptual framework for the perceived benefits and challenges that come with IFRS adoption. It used data from a cross-section of 762 members of the Institute of Charted Accountants, Ghana. This study found that a number of perceived benefits and challenges with the adoption of IFRS in Ghana, notable among the benefits was the ease of comparability of financial data across borders, and the top-most challenge was the continuous amendments to IFRS. There were few differences in evaluation between old and young accountants among the respondents. The theoretical and managerial implications are discussed. This study contributes to the limited empirical research regarding the perceived benefits and challenges of IFRS adoption in Sub-Saharan African in general and Ghana in particular.

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  • Mbawuni, Joseph, 2018. "Perceived Benefits and Challeges of IFRS Adoption in Ghana: Views of Members of Institute of Chartered Accountants, Ghana (ICAG)," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(1), pages 99-114, January.
    • Handle: RePEc:jfr:ijfr11:v:9:y:2018:i:1:p:99-114
    DOI: 10.5430/ijfr.v9n1p99
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    2. Ortiz-Martínez, Esther & Marín-Hernández, Salvador & Antón-Renart, Marcos, 2022. "Spanish economist-accountants’ perceptions of changes in regulation due to IFRS adoption," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 49(C).

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