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Has IFRS Enhanced Accounting Uniformity?

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  • Gianfranco Siciliano

Abstract

I examine the effect of International Financial Reporting Standards (IFRS) adoption on the accounting uniformity of financial statements for a sample of large firms listed on Euronext. Using Taplin’s (A unified approach to the measurement of international accounting harmony*. Accounting and Business Research, 34(1), 57–73) uniformity index, I find that IFRS enhances uniformity of financial statements of firms within the same country (national uniformity) and between countries (international uniformity). The change in uniformity is not, however, homogeneous within and across jurisdictions that are subject to different accounting regulations before IFRS adoption. Those countries whose local GAAP was further from IFRS prior to adoption experience a greater increase in uniformity after IFRS adoption. I also find that international uniformity is increased most for items where IFRS eliminated divergence with local GAAP and for items where no regulation existed under local GAAP; when IFRS preserved the accounting choice set prescribed under local GAAP, uniformity does not increase. The main contribution relies on showing that the various forms of the relationship local GAAP-IFRS prior to the shift matter when examining the direct effect of IFRS adoption on the convergence of financial reporting practices.

Suggested Citation

  • Gianfranco Siciliano, 2019. "Has IFRS Enhanced Accounting Uniformity?," Accounting in Europe, Taylor & Francis Journals, vol. 16(3), pages 313-339, September.
    • Handle: RePEc:taf:acceur:v:16:y:2019:i:3:p:313-339
    DOI: 10.1080/17449480.2019.1632468
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    Cited by:

    1. Marcus L. Caylor & Dennis J. Chambers & Sunay Mutlu, 2022. "Financial reporting uniformity: Its relation to comparability and its impact on financial statement users," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 49(9-10), pages 1457-1488, October.
    2. Dinu Elena Loredana, 2022. "The concept of quality of financial accounting information and the relationship with IFRS standards: analysis of the situation of companies listed on BVB," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 16(1), pages 1353-1367, August.

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