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Perceptions Of Professional Accountants On The Costs And Benefits Of Implementing Ias/Ifrs In Romania

Author

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  • Andreea Paula Dumitru

    (Finance and Accounting Department, Nicolae Titulescu University, Bucharest, Romania)

Abstract

This study aims to investigate the perceptions of professional accountants on the costs, benefits and implications of applying IFRS in Romania. The main results show that the benefits of implementing IFRS is ensuring greater transparency and comparability of financial information. In terms of costs, most respondents felt that the main costs is related to staff training, this being one of the factors that have caused difficulties in implementing IFRS. Regarding the quality of financial information after the adoption of standards, we conclude that it will improve considerably.

Suggested Citation

  • Andreea Paula Dumitru, 2014. "Perceptions Of Professional Accountants On The Costs And Benefits Of Implementing Ias/Ifrs In Romania," Global Economic Observer, "Nicolae Titulescu" University of Bucharest, Faculty of Economic Sciences;Institute for World Economy of the Romanian Academy, vol. 2(2), pages 66-75, November.
    • Handle: RePEc:ntu:ntugeo:vol2-iss2-14-066
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    References listed on IDEAS

    as
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    2. Vicky COLE & Joel BRANSON & Diane BREESCH, 2011. "The illusion of comparable European IFRS financial statements. Beliefs of auditors, analysts and other users," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 10(2), pages 106-134, June.
    3. Catalin Nicolae ALBU & Nadia ALBU & Szilveszter FEKETE PALI-PISTA & Dan CUZDRIOREAN VLADU, 2011. "The Power and the Glory of Big 4: A Research Note on Independence and Competence in the Context of IFRS Implementation," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 10(1), pages 43-54, March.
    4. Nadia Albu & Cătălin Nicolae Albu, 2012. "International Financial Reporting Standards in an Emerging Economy: Lessons from Romania," Australian Accounting Review, CPA Australia, vol. 22(4), pages 341-352, December.
    5. Hodgdon, Christopher & Tondkar, Rasoul H. & Adhikari, Ajay & Harless, David W., 2009. "Compliance with International Financial Reporting Standards and auditor choice: New evidence on the importance of the statutory audit," The International Journal of Accounting, Elsevier, vol. 44(1), pages 33-55, March.
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