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The adoption of IFRS in South Eastern Europe: the case of Greece


  • Charalambos Spathis
  • Eleftheria Georgakopoulou


Over the past few decades the globalisation of business investments and capital markets has led to a demand for high-quality information. It is widely accepted by numerous organisations that adherence to International Financial Reporting Standards (IFRS) in the presentation of financial statements has steadily increased and introduced their compatibility worldwide. This paper presents a study of the adoption of IFRS in South Eastern Europe by examining the case of Greece. It outlines the underlying factors and constraints affecting the compliance of firms with IFRS and most importantly highlights some key differences between IFRS and the Greek accounting system, which have had a major impact on the conversion to IFRS. Furthermore, it deals with specific issues related to local accounting practices and IFRS, the issue of enforcing compliance with IFRS and how this relates to current accounting and audit services.

Suggested Citation

  • Charalambos Spathis & Eleftheria Georgakopoulou, 2007. "The adoption of IFRS in South Eastern Europe: the case of Greece," International Journal of Financial Services Management, Inderscience Enterprises Ltd, vol. 2(1/2), pages 50-63.
  • Handle: RePEc:ids:ijfsmg:v:2:y:2007:i:1/2:p:50-63

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    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.

    Cited by:

    1. Ioannis Tsalavoutas & Paul André & Lisa Evans, 2009. "Transition to IFRS and value relevance in a small but developed market: A look at Greek evidence," Post-Print halshs-00460532, HAL.
    2. George Iatridis & Konstantia Dalla, 2011. "The impact of IFRS implementation on Greek listed companies: An industrial sector and stock market index analysis," International Journal of Managerial Finance, Emerald Group Publishing, vol. 7(3), pages 284-303, June.
    3. Ioannis Tsalavoutas & Lisa Evans, 2010. "Transition to IFRS in Greece: financial statement effects and auditor size," Managerial Auditing Journal, Emerald Group Publishing, vol. 25(8), pages 814-842, September.
    4. Apostolos A. Ballas & Despina Skoutela & Christos A. Tzovas, 2010. "The relevance of IFRS to an emerging market: evidence from Greece," Managerial Finance, Emerald Group Publishing, vol. 36(11), pages 931-948, September.


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