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Perceptions of professionals interested in accounting and auditing about acceptance and adaptation of global financial reporting standards

Author

Listed:
  • Bozkurt, Orhan

    (Uludag University)

  • İslamoğlu, Mehmet

    (Bartın University)

  • Öz, Yaşar

    (Bartın University)

Abstract

Nowadays, one of the final aims of the institutions working on transparency and standardization of financial statements, and the publication of standards related to the profession of accounting & auditing has been to put into practice a uniform global set of standards which will be applicable in finance. Before 2000, in the case of a preference between IFRS & US GAAP regarding which should be internationally accepted uniform set of application, world public opinion used to accept U.S. Generally Accepted Accounting Principles (US GAAP) as reference. Today, great majority of the world takes IFRS as a reference. This study contains evaluations related to the results of research on the thoughts & perceptions of the professionals interested in accounting and auditing about application and development of international financial reporting standards as national financial reporting standards. As a result of the research, it was determined that those interested in accounting and auditing see significant advantages in the application of IFRS. Accountants and auditors think that in case IFRS is applied, comprehensibility and reliability of financial statements shall increase, at the same time accounting frauds shall decrease.

Suggested Citation

  • Bozkurt, Orhan & İslamoğlu, Mehmet & Öz, Yaşar, 2013. "Perceptions of professionals interested in accounting and auditing about acceptance and adaptation of global financial reporting standards," Journal of Economics, Finance and Administrative Science, Universidad ESAN, vol. 18(34), pages 16-23.
    • Handle: RePEc:ris:joefas:0053
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    References listed on IDEAS

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    1. Baker, C. Richard & Barbu, Elena M., 2007. "Trends in research on international accounting harmonization," The International Journal of Accounting, Elsevier, vol. 42(3), pages 272-304.
    2. Carmona, Salvador & Trombetta, Marco, 2008. "On the global acceptance of IAS/IFRS accounting standards: The logic and implications of the principles-based system," Journal of Accounting and Public Policy, Elsevier, vol. 27(6), pages 455-461.
    3. E. Barbu & C. R. Baker, 2007. "Trends in research on international accounting harmonization," Post-Print halshs-00325849, HAL.
    4. Janvrin, Diane & Caster, Paul & Elder, Randy, 2010. "Enforcement release evidence on the audit confirmation process: Implications for standard setters," Research in Accounting Regulation, Elsevier, vol. 22(1), pages 1-17.
    5. Navarro-García, Juan Carlos & Bastida, Francisco, 2010. "An empirical insight on Spanish listed companies’ perceptions of International Financial Reporting Standards," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 19(2), pages 110-120.
    6. Mary Tokar**, 2005. "Convergence and the Implementation of a Single Set of Global Standards: The Real-life Challenge," Accounting in Europe, Taylor & Francis Journals, vol. 2(1), pages 47-68, January.
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    Cited by:

    1. Vladimir Obradović & Milan Čupić & Dragomir Dimitrijević, 2018. "Application of International Financial Reporting Standards in the Transition Economy of Serbia," Australian Accounting Review, CPA Australia, vol. 28(1), pages 48-60, March.

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    More about this item

    Keywords

    International; Financial; Reporting; Standards; Turkish; Accounting; Standards; Benefit; Interpretation; Perceptions; of; Standards; Responsibility; Advantage; of; Application; of; International; Financial; Reporting; Standards;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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