Why do Countries Adopt International Financial Reporting Standards?

Ramanna, Karthik; Sletten, Ewa

doi:10.2139/ssrn.1460763

Cited by 82 publications

(77 citation statements)

References 28 publications

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“…83 In the U.S., "private" standard setters have operated at the behest of the SEC to provide "substantial authoritative support" (Zeff, 2005a). Internationally, the "privately" developed IASB standards are mandated in many jurisdictions (see for example, Ramanna and Sletten, 2009).…”

Section: Role Of Regulationmentioning

confidence: 99%

Implications for GAAP from an analysis of positive research in accounting

Kothari¹,

Ramanna

Skinner

2010

Journal of Accounting and Economics

Self Cite

555

356

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Based on extant literature, we review the positive theory of GAAP. The theory predicts that GAAP's principal focus is on control (performance measurement and stewardship) and that verifiability and conservatism are critical features of a GAAP shaped by market forces. We recognize the advantage of using fair values in circumstances where these are based on observable prices in liquid secondary markets, but caution against expanding fair values to financial reporting more generally. We conclude that rather than converging U.S. GAAP with IFRS, competition between the FASB and the IASB would allow GAAP to better respond to market forces.

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Section: Role Of Regulationmentioning

confidence: 99%

Implications for GAAP from an analysis of positive research in accounting

Kothari¹,

Ramanna

Skinner

2010

Journal of Accounting and Economics

Self Cite

555

356

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“…Thus, the next hypothesis as follows: H4: the development of capital markets in developing countries will increase the likelihood of IFRS adoption Ramanna and Sletten (2009), found a nonlinear relationship between quality of local governance institutions and the possibility of IFRS adoption. Their research uses a sample of developed countries and developing countries.…”

Section: Hypotheses Developmentmentioning

confidence: 99%

An empirical examination of factors contributing to the adoption of IFRS in developing countries

Mita

Husnah

2015

JEBAV

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“…According to economic network theory, it is likely that IFRS adoption will increase with the number of IFRS adopters in a geographical region and among its trade partners (Ramanna and Sletten, 2009). …”

Section: Reasons For Ifrs Adoptionmentioning

confidence: 99%

Empirically Investigating Saudi Arabian Accountants’ Readiness to Implement IAS 2

Al-Mousa¹,

Al-Adeem²

2017

FMIR

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This study focuses on practicing accountants in Saudi Arabia to examine their readiness to adopt the mandatory International Financial Reporting Standards (IFRS). More specifically, it investigates the International Accounting Standard for Inventories, an indicator for accountants' understanding of IFRS requirements. To do so, we conduct an online questionnaire survey, which reveals that 52.27% accountants may not be ready for IFRS implementation. The lack of knowledge about certain IAS 2 requirements raises further concerns about accountants' readiness to implement more complicated IFRS, some of which have no comparable local financial accounting standards. These findings draw attention to the effectiveness of IFRS training courses. Further, 57.20% accountants, all of whom reviewed the Saudi Organization for Certified Public Accountants' (SOCPA) website, provided appropriate answers, indicating SOCPA's significant contribution toward the spreading of awareness and knowledge about IFRS. Our findings have implications for practitioners and accounting regulators as well as bodies responsible for standardizing accounting practices in Saudi Arabia. In particular, they suggest steps necessary to increase accountants' readiness for IFRS adoption, which became mandatory since January 1, 2017, for all listed companies. In conclusion, this study serves as a foundation for future research on the topic, which can be extended to the realm of auditors, and obstacles confronting accountants in IFRS implementation.

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Why do Countries Adopt International Financial Reporting Standards?

Cited by 82 publications

References 28 publications

Implications for GAAP from an analysis of positive research in accounting

Implications for GAAP from an analysis of positive research in accounting

An empirical examination of factors contributing to the adoption of IFRS in developing countries

Empirically Investigating Saudi Arabian Accountants’ Readiness to Implement IAS 2

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