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The need for the adoption of International Financial Reporting Standards (IFRS): some explanations for the pace of implementation

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  • Ojo, Marianne

Abstract

Whilst the impact of globalisation and harmonisation is currently being witnessed around the globe, and the need to embrace the adoption of International Financial Reporting Standards (IFRSs) is becoming increasingly evident, certain jurisdictions have been much quicker in their embrace, adoption and adaptation of International Financial Reporting Standards, than others. As well as highlighting the need for the adoption of International Financial Reporting Standards, this paper also aims to provide an explanation for the pace of response in the adoption and adaptation of IFRSs in selected jurisdictions. It does so partly through a consideration of the impact of accounting and finance theories which have impacted the standard setting systems of certain jurisdictions.

Suggested Citation

  • Ojo, Marianne, 2012. "The need for the adoption of International Financial Reporting Standards (IFRS): some explanations for the pace of implementation," MPRA Paper 39348, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:39348
    as

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    File URL: https://mpra.ub.uni-muenchen.de/39348/1/MPRA_paper_39348.pdf
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    References listed on IDEAS

    as
    1. Ross Levine & Norman Loayza & Thorsten Beck, 2002. "Financial Intermediation and Growth: Causality and Causes," Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084, Central Bank of Chile.
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    More about this item

    Keywords

    IFRS; accounting; finance theories; creative accounting; accounting reforms; transparency; financial reporting; disclosure; rules based; principles based approach;
    All these keywords.

    JEL classification:

    • D0 - Microeconomics - - General
    • E02 - Macroeconomics and Monetary Economics - - General - - - Institutions and the Macroeconomy
    • K2 - Law and Economics - - Regulation and Business Law
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G3 - Financial Economics - - Corporate Finance and Governance
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • G01 - Financial Economics - - General - - - Financial Crises

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