Mandatory Adoption of International Financial Reporting Standards (IFRS) by EU Listed Firms: Comparability and Analysts’ Forecasts

2011 ◽  
Author(s):  
Paul Andre ◽  
Dionysia Dionysiou ◽  
Ioannis Tsalavoutas
Keyword(s):  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Listed Firms ◽  
Financial Reporting Standards ◽  
Mandatory Adoption

Compliance with international financial reporting standards: the case of listed firms in Ghana

2016 ◽  
Vol 14 (1) ◽  
pp. 131-156 ◽  
Author(s):  
Kingsley Opoku Appiah ◽  
Dadson Awunyo-Vitor ◽  
Kwame Mireku ◽  
Christian Ahiagbah
Keyword(s):  
Financial Reporting ◽  
Firm Size ◽  
Developing Economies ◽  
Random Effect ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Firm Age ◽  
Content Type ◽  
Listed Firms ◽  
Financial Reporting Standards

Purpose This study aims to examine the association between five firm-specific characteristics and the level of compliance with International Financial Reporting Standards (IFRS) by companies listed on Ghana Stock Exchange. The five firm-specific characteristics are firm size, profitability, leverage, auditor type and firm age. Design/methodology/approach The study uses dataset from 31 listed Ghanaian firms from 2008 to 2012. Random effect is used to examine the influence of the predictive variables on the level of IFRS corporate compliance. Findings The result reveals a positive significant relationship between the level of compliance and firm size, auditor type, cross-listing and sector (information and communications technology (ICT) and agro-forestry). On the contrary, the level of compliance exhibits a negative significant association with leverage and firm age. It is observed that the level of compliance is not related to profitability. The results are robust to different model specifications. Practical implications This study identifies firm-specific characteristics that influence IFRS compliance by listed firms in Ghana. This would aid accounting policy makers to institute strategies to encourage compliance with IFRS by the listed firms. Originality/value The study contributes to financial reporting literature relating to developing economies and Ghana, in particular.

scholarly journals Factors Influencing the Extent of Corporate Compliance with International Financial Reporting Standards in South Africa

2021 ◽  
Vol 11 (12) ◽  
pp. 965-984
Author(s):  
Unity Maqeda Putsai ◽  
Msizi Mkhize
Keyword(s):  
South Africa ◽  
Financial Reporting ◽  
Stock Exchange ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Financial Reports ◽  
Listed Firms ◽  
Financial Reporting Standards ◽  
Johannesburg Stock Exchange ◽  
Compliance Level

The main objective of this study is to investigate the effects of company attributes on compliance with International Financial Reporting Standards (IFRS). The study used a sample of 46 listed companies on the Johannesburg Stock Exchange (JSE) covering the period from 1993 to 2017. With an average compliance level of 88.21304, it is concluded that South Africa’s listed firms have significantly complied with IFRS 1. Using panel data to analyze the effects of company attributes, size and leverage have a significant positive effect on IFRS 1 compliance. On the other hand, the coefficients of Earnings Per Share (EPS) and Return on Total Assets (ROTA) are negative and significant. This similarly implies that ROTA and EPS are important factors driving the compliance level of the companies in South Africa with the IFRS 1 disclosure. EPS and ROTA also exhibit an inverse relationship with the compliance level. Carrying out a longitudinal study helps to produce more recent evidence on the quality of IFRS financial reports in South Africa. The outcome of the study is beneficial to international literature as it provides enough evidence on the benefits of adopting IFRS adoption.

Issues affecting decisions on mandatory adoption of International Financial Reporting Standards (IFRS) in Japan

2016 ◽  
Vol 29 (5) ◽  
pp. 828-860 ◽  
Author(s):  
Noriyuki Tsunogaya
Keyword(s):  
Financial Reporting ◽  
International Financial Reporting Standards ◽  
Critical Examination ◽  
Reporting Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Stakeholder Groups ◽  
Convergence Process ◽  
Mandatory Adoption ◽  
Time Periods

Purpose – The purpose of this paper is to explore whether there are differences in either the level of support for the mandatory adoption of International Financial Reporting Standards or the arguments made by various stakeholder groups within Japan’s Business Accounting Council (BAC) during different time periods from 2009 to 2013. Design/methodology/approach – Using a content analysis of related BAC meetings and referring to Gernon and Wallace’s (1995) accounting ecology framework, this study provides rigorous and holistic insights into the debates concerning the adoption of IFRS in Japan. Time-series analyses are specifically applied to unravel continuous or discontinuous patterns of BAC members’ statements. Findings – The results indicated significantly higher levels of disapproval of mandatory adoption of IFRS by representatives from accounting academics, manufacturing industry, and the Financial Services Agency than by those from the Japanese Institute of Certified Public Accountants. Also, a lower level of disapproval of mandatory adoption of IFRS was found in 2009 than in 2012 and 2013. The results further demonstrated that diversity of opinions and arguments existed in different stakeholder groups as well as in different time periods. Research limitations/implications – The findings of this study suggest that accounting research will be enhanced by an objective and critical examination of the sociological context of the globalization (convergence) process. Originality/value – The results of this study will provide answers related to the possible, probable, and desirable aspects of the globalization (convergence) process by unraveling the causes and consequences of certain patterns presented in BAC members’ statements.

scholarly journals Mandatory IFRS Adoption and Analyst Coverage: Evidence from the UK

2018 ◽  
Vol 12 (11) ◽  
pp. 435
Author(s):  
Mohammad Issa Almaharmeh ◽  
Hamzah Al-Mawali ◽  
Ghassan Obeidat
Keyword(s):  
Financial Reporting ◽  
Financial Analysts ◽  
Reporting Standards ◽  
Financial Analyst ◽  
Analyst Coverage ◽  
Listed Firms ◽  
Financial Reporting Standards ◽  
Ifrs Adoption ◽  
Mandatory Adoption ◽  
The Uk

This study investigates whether the mandatory adoption of International Financial Reporting Standards (IFRS) enforce financial analysts to cover the firms with their EPS forecast. After examining a large sample of 10,953 firm year observations from 1,467 distinct UK listed firms for the period between 1990 and 2013, the results suggest that, mandatory IFRS adoption attract more analysts to follow the firms. Where we find the number of financial analyst who cover the IFRS adopters is significantly higher than that for non-adopter firms.

scholarly journals Constructing a Financial Reporting Disclosure Quality Model of Listed Firms in Malaysia

2021 ◽  
Vol 22 (2) ◽  
pp. 1034-1046
Author(s):  
Daw Tin Hla ◽  
Sharon Cheuk ◽  
Abu Hassan Md Isa ◽  
Shaharudin Jakpar
Keyword(s):  
Financial Reporting ◽  
Service Sector ◽  
Audit Quality ◽  
Essential Feature ◽  
Accounting Standards ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Disclosure Quality ◽  
Listed Firms ◽  
Financial Reporting Standards

The national accounting standards set by the Malaysian Accounting Standards Board (MASB) is largely converged with the International Financial Reporting Standards (IFRS). The benefit arising from this is to enable foreign investors to analyse their investments via a standardised financial reporting system in Malaysia. Financial reporting disclosure quality by the listed firms in the consumer product and service sector on Bursa Malaysia is an essential feature in the firms’ financial reporting to the public. This research evaluates the development of financial reporting disclosure quality assurance by firms listed on Bursa Malaysia, by examining financial reporting disclosure quality and subsequent compliance with the International Financial Reporting Standards. This study uses a content analysis approach to identify a financial reporting standard compliance disclosure index, based the financial statements issued by firms listed on Bursa Malaysia from 2008 – 2016. A panel regression model is utilised to construct a model of financial reporting disclosure quality of the firm, based the extent of compliance with IFRS disclosure requirements from the following perspectives: corporate governance practice, audit quality and corporate social responsibility. The sustainability of financial reporting disclosure quality by the listed firms and subsequently the Malaysian capital markets will enable the same to attain a competitive edge in the international markets. In addition, this study will discuss financial reporting disclosure quality implications relevant to the policy makers in Bursa Malaysia, and it is envisaged that such model can be utilised in the improvement of future financial reporting policies.

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