La nécessité d'une adoption (et l'adaptation) mondiale des IFRS (des normes internationales d'information financière): conséquences post-Enron et la restauration de la confiance aux marchés financiers à la suite des crises de 2008 financières et boursières
[The need for global adoption and adaptation of International Financial Reporting Standards: post Enron consequences and the restoration of confidence to capital markets following the 2008 financial and stock market crises]
AbstractMany questions have been raised as to whether financial accounting has become more conservative. The value relevance and qualitative characteristics of accounting information have become topics of particular relevance given the role they have assumed in influencing the value judgment of investors (local or international) in deciding whether or not to invest in a certain market. Given the quality of accounting information – which has resulted in misleading and inaccurate information (amongst many other low quality attributes), it became evident, particularly following Enron's collapse, to adopt improved, enhanced, better quality standards: namely, International Financial Reporting Standards. This paper considers the background culminating in the adoption of IFRS – as well as the need for the adoption of IFRS. It also highlights why the value relevance of accounting information is also of vital significance in certain emerging economies and why the successful implementation of IFRS in these jurisdictions may be crucial in restoring investor confidence – particularly in the aftermath of stock market crashes in these economies.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41362.
Date of creation: 15 Sep 2012
Date of revision:
value relevance; conservatism; capital markets; transparency; disclosure; comparability; consistency; accounting information; IFRS adoption ; mark to market accounting; IAS 32; IAS 39; financial instruments; fair value accounting; off balance sheet instruments;
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