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Journal articles on the topic 'Global Financial Reporting Standards'
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1
Damant, David. "Harmonising world reporting: global financial reporting standards come closer." Balance Sheet 8, no. 4 (2000): 37–38. http://dx.doi.org/10.1108/09657960010373446.
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Ismailov, Shapakhat Sodikovich. "UNDERSTANDING THE PILLARS OF THE GLOBAL STANDARD OF ACCOUNTING." Journal of Universal Science Research 2, no. 4 (2024): 57–62. https://doi.org/10.5281/zenodo.10934493.
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This article explores the pillars of the global standard of accounting, emphasizing their significance, evolution, and key components. It discusses the importance of a unified standard in facilitating international trade and investment, the historical context of accounting standards convergence, and the role of organizations like the International Accounting Standards Board (IASB) in developing International Financial Reporting Standards (IFRS). Additionally, it highlights challenges and future directions in achieving uniformity across jurisdictions.
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Stanković, Predrag, and Dragomir Dimitrijević. "International financial reporting standards as the basis of financial reporting for listed companies." Anali Ekonomskog fakulteta u Subotici, no. 00 (2025): 55. https://doi.org/10.5937/aneksub2500005s.
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Purpose: The research explores the specificities and differences in the application of International Financial Reporting Standards (IFRS) as the basis for financial reporting by listed companies worldwide. The primary issue addressed is the inconsistency in IFRS application across countries, despite its global significance for the transparency and comparability of financial statements. Methodology: Methodologically, the research relies on the analysis of 168 jurisdictions whose profiles are available on the IFRS Foundation's website. Data on the extent of IFRS application in domestic and foreign listed companies were analysed, including whether the adoption of the standards is mandatory or optional. Findings: The results indicate the dominance of jurisdictions where IFRS application is mandatory for listed companies, while specificities in the permissibility and scope of application are observed in other cases. Originality/value: This study identifies the reasons behind the differences in the level of IFRS implementation across various jurisdictions, with a focus on listed companies, and provide insights into the future directions of IFRS implementation. Practical implications: These findings are relevant for analysts, investors, and regulators in assessing the effects of global harmonisation of financial reporting. Limitations: Although the analysis was conducted on all jurisdictions whose profiles are presented on the IFRS Foundation's website, which do not represent all jurisdictions in the world, the study did not consider changes in the scope and various variations of IFRS application in these jurisdictions over time.
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Yallapragada, RamMohan R. "Incorporating International Financial Reporting Standards Into The United States Financial Reporting System: Timeline And Implications." International Business & Economics Research Journal (IBER) 11, no. 3 (2012): 283. http://dx.doi.org/10.19030/iber.v11i3.6860.
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In the United States of America (US), all the accounting procedures and guidelines for measurement and reporting by business firms are governed by a body of principles and concepts known as Generally Accepted Accounting Principles (GAAP). These GAAP are presently issued by the Financial Accounting Standards Board (FASB) with the authority delegated by the Securities and Exchange Commission (SEC). Historically, each country developed its own GAAP and there was no uniformity among the GAAPs of different countries. Comparison of financial statements issued by business firms from different countries has become impossible leading toward suboptimal capital allocation across countries in the world. Gradually, with the advent of multinational corporations, there emerged a global demand for convergence of GAAP of different countries into a single set uniform accounting standards applicable to all countries. Initiative for uniform global accounting standards came from International Accounting Standards Committee (IASC) which was established in 1973. The IASC formed International Accounting Standards Board (IASB) in 2001 which began issuing International Financial Accounting Standards (IFRS). Till now about 100 countries have adopted IFRS for their financial reporting purposes. The SEC has yielded to the global pressure to adopt IFRS in the US. SEC has set a timeline for US business firms to change over from US GAAP to IFRS. This paper presents the background and development of the movement of IFRS, timeline for the change in US and the implications involved in the adoption of IFRS in the US.
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Zhang, Mingke. "Chinese Accounting Standards Convergence with International Financial Reporting Standards." Advances in Economics, Management and Political Sciences 114, no. 1 (2024): 162–68. http://dx.doi.org/10.54254/2754-1169/114/2024bj0182.
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As the global economy becomes more integrated, Chinese Accounting Standards (CAS) are gradually moving towards convergence with International Financial Reporting Standards (IFRS). So far, CAS and IFRS do still have a number of variations including content, format and setup mechanisms. This paper analyzes three main differences in the content between CAS and IFRS regarding the financial instrument, biological asset, and lease measurement. These differences may cause problems for international practitioners and investors. In addition, the paper discusses the influences of the global convergence of CAS and the challenges faced by the technology industry, listed companies, and government. It is recommended that China need to consider the domestic economic situation and policies when adopting IFRS, and properly adjust the content of the standard accordingly, so as to better meet the domestic needs and development prospects. And industries should balance convergence and market challenges and work together to shape a practical and comprehensive China accounting system to enable China to develop globally further.
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Jadranka, Mrsik, and Kostovski Ninko. "Does the Adoption of International Financial Reporting Standards Provide Commensurate Benefits to Prospective European Union Countries?" AICEI Proceedings 9, no. 1 (2014): 317–31. https://doi.org/10.5281/zenodo.4553272.
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The common set of reporting standards allows for a unified business language when reporting on the financial status of businesses. Standards help to raise the quality of information and the comparability of financial statements. The understanding of financial statements is particularly important for the economies of prospective European Union countries, especially the smaller ones, because their growth is so dependent on the free movement of capital and extensive foreign direct investments. Researchers stress that even though the International Financial Reporting Standards (IFRS) are adopted by most of the developing countries, their business characteristics could limit their ability to accomplish expected benefits. Formal adoption does not necessarily lead towards unimpeded implementation. This chapter presents the perceptions of Macedonian managers about IFRS acceptance. First, we survey, a representative sample of Chief Financial Officers from companies listed on the Macedonian stock exchange, and executives and analysts in investment and pension funds. Next, we compare the findings with the results of the similar survey presented in the Association of Chartered Certified Accountants Reports 2011, on the attitudes of their counterparts in America, Europe, the Middle East and Asia. Finally, we offer recommendations on the further implementation of standards in the prospective European Union countries, which in turn will help their inclusion into the overall economic, social and cultural trends of the Union.
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Krishna, Kumar. "IFRS- Challenging and Opportunities in Global Accounting." ACCST RESEARCH JOURNAL XX, no. 3, July 2022 (2022): 5–12. https://doi.org/10.5281/zenodo.7788936.
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<em> In the present era of globalization and liberalization the world has become an economic village. A number of multinational companies are establishing their business in emerging economies and are increasingly accessing the global markets to fulfill their capital needs by getting their securities listed on the stock exchanges outside their own country. Such environment requires uniform accounting standards for global business. To deal with such issues, one global accounting standard for reporting financial statement i.e. IFRS was developed. During the switch over phase from local GAAP to IFRS companies will have to modify their accounting system and processes as well as provide comparative financial information between their previous GAAP and their new IFRS compliant report. The main aim of IFRS standards are bring Transparency, Accountability and Efficiency to financial report around the world. This article examines the IFRS challenges & opportunities in Global Accounting.</em>
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Holovina, Daria, Olga Karpenko, and Iryna Plikus. "INTERNATIONAL CONVERGENCE OF FINANCIAL REPORTING." 63, no. 63 (July 10, 2022): 83–93. http://dx.doi.org/10.26565/2524-2547-2022-63-08.
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The purpose of this article is to study the state of global convergence of financial reporting standards at the present stage, as well as to consider the key points of the process of unification of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). To achieve this goal, the article considers the concepts of convergence, harmonization and standardization, presents an analysis of the intensity of use of these concepts, which are associated with the dynamic development of recent global accounting transformations and major trends in international convergence of financial reporting. The key stages of the process of unification of International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP) are considered. For decades, the European Union, the International Organization of Securities Commissions (IOSCO) and the Committee on International Accounting Standards have supported international efforts to harmonize US GAAP and IFRS. accounting and reporting standards used in different countries. We have determined that while both IFRS and GAAP aim to provide transparency, informational content and usability in financial statements, these standards use different approaches to achieve this. We indicated that at present IFRS is the dominant accounting and reporting system, in fact, only third world countries do not apply it. We have proven that in the process of achieving convergence, a single set of understandable and feasible international accounting standards must be developed, requiring high quality, transparent and comparable information in financial statements in order to ensure convergence of IFRS and GAAP. We analyzed the intensity of the use of the concepts of IFRS and GAAP, which are associated precisely with the convergence of these accounting systems using the Google Ngram Viewer (GNV) tool. We have proved that the Convergence of IFRS and GAAP also applies to Ukraine, since the convergence is bilateral, any change in IFRS will ultimately affect the Ukrainian accounting and reporting system.
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Zayernyuk, Viktor M., Zinaida M. Nazarova, Elena I. Sedova, Evgeny V. Oskirko, and Ivan S. Nurekenov. "CONVERGENCE OF NATIONAL ACCOUNTING STANDARDS WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS: CHINA’S EXPERIENCE." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 12/16, no. 153 (2024): 136–43. https://doi.org/10.36871/ek.up.p.r.2024.12.16.016.
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Since its inception in 1973, the former International Accounting Standards Committee (IASC) has worked to harmonize global accounting standards by developing standards that could serve as a model on which national standard-setters could base their own standards. In 2001, the IASC was replaced by the International Accounting Standards Board (IASB). Its mission was to converge global accounting standards – to develop a single set of high-quality, understandable and enforceable global accounting standards that require high-quality, transparent and comparable information in financial statements and other financial statements to help global capital market participants and other users make economic decisions. This article discusses the stages of convergence of China’s national accounting standards with International Financial Reporting Standards.
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Abdalova, E. B., and S. N. Karelskaia. "Global Tends in the Corporate Reporting Development." Accounting. Analysis. Auditing 9, no. 1 (2022): 19–30. http://dx.doi.org/10.26794/2408-9303-2022-9-1-19-30.
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The paper covers the disclosure of information on company’s climate risks in corporate reporting, which is the urgent agenda. It was found that 16 of International Financial Reporting Standards (IFRS) provide the opportunity for disclosing of such climate risks. However, they contain significant restrictions regarding the presentation of forecasting information. The analysis revealed the current stages of corporate reporting development under the influence of the relevant disclosure of climate risks by companies. The research data source includes the publications and statements available on the official website of the IFRS Foundation**. The research results can be useful for professional international organisations and Russian state bodies engaged in the development of financial and non-financial reporting standards, concerned users, as well as economic entities that prepare corporate reporting.
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Tripathi, Ravindra, and Shikha Gupta. "INTERNATIONAL FINANCIAL REPORTING STANDARDS: A WAY FOR GLOBAL CONSISTENCY." Australian Journal of Business and Management Research 01, no. 01 (2011): 38–51. http://dx.doi.org/10.52283/nswrca.ajbmr.20110101a04.
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The reverberations of Wall Street had to be felt across the global banking system. Last September, the world economy seemed to be hurtling down in a way that had initially raised the spectre of the Great Depression in America of the late 1920s. This is based largely on the performance of stock markets which are supposed to reflect future trends in the real economy. However, such knowledge embedded in the markets can be imperfect, as we have learnt by now. In some ways, the global financial crisis and its fallout are forcing economic agents to acquire new knowledge in regard to what might happen in the future. It was difficult to explain rationally why the stock markets were furiously running up even as company balance sheets were still bleeding. A few years ago, International Financial Reporting Standards (IFRS) were a distant possibility. Today, the reality is far different. We are in a dramatic shift that is fast making IFRS the most widely accepted accounting model in the world. As the business environment becomes increasingly global and companies routinely list on stock exchanges in many countries, the need for consistent worldwide reporting standards intensifies. IFRS clearly addresses this issue; its goal is to create comparable, reliable, and transparent financial statements that will facilitate greater cross-border capital raising, trade and better corporate governance practices. Thus acceptance of IFRS is gaining momentum across the globe. IFRS transition program for any organization will have multi – dimensional effect because of differences which exist between IFRS and Local GAAPs. The objectives of the paper is to highlight the nature of such differences with examples along with analysing the provisions of IFRS, comparative analysis of IFRS with Indian GAAP system, benefits, and major issues in first time adoption of IFRS in Indian companies with the help of case study of Indian corporate.
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Khalilov, Bakhromjon Bakhodirovich. "ADVANTAGES AND FEATURES OF INTRODUCING INTERNATIONAL STANDARDS OF FINANCIAL REPORTING IN OUR COUNTRY." International Journal of Education, Social Science & Humanities. Finland Academic Research Science Publishers 11, no. 9 (2023): 535–41. https://doi.org/10.5281/zenodo.8371951.
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<em>This article covers the advantages and features of the introduction of international standards of financial reporting in our country, analytical information about international standards of financial reporting, accounting and reporting standards, the process of joining international capital markets, financial reporting standards and comparison of accounting documents between companies on a global scale.</em>
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Barth, Mary E. "Global Financial Reporting: Implications for U.S. Academics." Accounting Review 83, no. 5 (2008): 1159–79. http://dx.doi.org/10.2308/accr.2008.83.5.1159.
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ABSTRACT: This paper identifies challenges and opportunities created by global financial reporting for the education and research activities of U.S. academics. Relating to education, after overviewing the relation between global financial reporting and U.S. GAAP, it offers suggestions for topics to be covered in global financial reporting curricula and clarifies common misunderstandings about the concepts underlying financial reporting. Relating to research, it explains how and why research can provide meaningful input into standard-setting, and identifies questions that can motivate research related to topics on the International Accounting Standards Board’s technical agenda and to the globalization of financial reporting.
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Onah, K. A., and I. T. Edeh. "The Effect of International Financial Reporting Standards (IFRS) Adoption on Financial Reporting Comparability." International Journal of Advanced Finance and Accounting 5, no. 1 (2024): 48–61. https://doi.org/10.5281/zenodo.11530006.
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<em>This study investigated the effect of International Financial Reporting Standards (IFRS) Adoption on Financial Reporting Comparability among publicly listed companies across different countries. The specific objective are to examine the impact of IFRS adoption on the level of financial reporting comparability among publicly listed companies across different countries, investigate the factors that influence the degree of financial reporting comparability following the adoption of IFRS, such as differences in enforcement mechanisms, cultural/ institutional factors and industry-specific practices and evaluate the benefits and challenges associated with IFRS adoption in terms of enhancing the comparability, transparency and reliability of financial information for cross-border investment and decision-making. The research utilized a quantitative methodology. Primary data collection involved distributing surveys and questionnaires to accounting professionals, regulators, investors, and senior management of IFRS-adopting companies. Secondary data comprised financial statements, academic research, and industry reports. Various statistical techniques, including descriptive and regression analyses, were employed to assess the impact of IFRS adoption on financial reporting comparability. The findings reveal a significant positive association between IFRS adoption and financial reporting comparability, indicating that the adoption of IFRS enhances the consistency and transparency of financial reporting practices globally. These results underscore the importance of adopting global accounting standards in promoting cross-border investment, decision-making, and capital allocation. The study concludes with recommendations for continued emphasis on IFRS adoption and implementation, enhanced cross-border collaboration and harmonization, and investment in technology and data analytics to further strengthen the impact of IFRS adoption on financial reporting comparability.</em>
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Kabwe, Martin. "Effect of International Financial Reporting Standards Compliance on Financial Reporting Quality: Evidence from a Developing Country." International Journal of Finance and Accounting 8, no. 1 (2023): 36–57. http://dx.doi.org/10.47604/ijfa.1802.
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Purpose: Despite global adoption of International Financial Reporting Standards to improve financial reporting quality, there is still inconclusive and limited empirical evidence of improving financial reporting quality especially from developing countries. Therefore, the study analysed the relationship between International Financial Reporting Standards compliance and Financial Reporting Quality from an African country perspective.
 Methodology: Financial Reporting Quality was measured using measurement tool developed by the Nijmegen Center for Economics and International Financial Reporting Standards compliance was measured using dichotomous and partial compliance methods. Study period was 2012 to 2018 involving 20 Zambian listed companies. Study involved panel data analysis and hence, Hausman test was conducted to select the model. Multiple linear regression was used as a data analysis method.
 Findings: The results indicated a statistically insignificant relationship between International Financial Reporting Standards compliance and Financial Reporting Quality. Therefore, the implication of the study is that the adoption of International Financial Reporting Standards does not influence financial reporting quality among Zambian listed companies. The low compliance with International Financial Reporting Standards among the listed may have contributed.
 Unique Contribution to Theory, Practice and Policy: This is first study in Zambia looking at the influence of IFRS Compliance on Financial Reporting Quality and therefore, contributes to the extant empirical studies analysing whether IFRS compliance influences the financial reporting quality given the mixed results across.
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Hicham Elhafdi, M. "CSR REPORTING BY MOROCCANBANKS :AN EXPLORATORYSTUDYBASED ON THE GLOBAL REPORTING INITIATIVE." International Journal of Advanced Research 11, no. 06 (2023): 309–23. http://dx.doi.org/10.21474/ijar01/17075.
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This research analyzes the extra-financial reporting of Moroccan banks, in order to explore whether they integrate CSR issues as defined by the GRI guidelines, as well as the issues specific to the financial sector listed by its sector supplement. Mobilizing content analysis techniques, we have built an analysis scenario under Tropes grouping the indicators of the above-mentioned standards. Overall, the results reveal that the quality of extra-financial disclosure is dependent on the reporting framework. They also recognize the predominance of social disclosures, and the weakness of those of an environmental nature. Finally, they suggest that improving the maturity of reporting requires greater involvement of stakeholders, and work on the reliability of non-financial information by having recourse to its external verification.
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Schnitger, Arne, Florian Holle, and Madeleine Kockrow. "Tax and Transparency: Reporting in Accordance with the Global Reporting Initiative." Intertax 49, Issue 8/9 (2021): 702–12. http://dx.doi.org/10.54648/taxi2021069.
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The issues of ‘sustainability’, ‘transparency’, and ‘taxes’ are linked through the latest addition to the Global Reporting Initiative Standards (GRI 207: Tax 2019) for sustainability reporting. (Global Sustainability Standard Board, GRI 207: Tax 2019, 5 December 2019, https://www. globalreporting.org/standards/gri-standards-download-center/gri207-tax-2019/). The first part of this article deals with the basics of sustainability reporting using the GRI framework, its application, and the incentives for companies to extend it to tax aspects. In the second part, the individual regulatory areas of the standard GRI 207: Tax 2019 published on 5 December 2019 are analysed in detail. Sustainability, transparency, GRI 207, country-by-country reporting, non-financial reporting directive, tax compliance management system, tax risks, UN sustainable development goals.
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Robles Quiñónez, Gustavo Darío, Fanny Graciela Egas Moreno, Lorena Aida Benites Valverde, and Luz Marina Cifuentes Quiñónez. "International accounting in Latin America: an overview of International Financial Reporting Standards (IFRS)." Sapienza: International Journal of Interdisciplinary Studies 5, no. 2 (2024): e24040. http://dx.doi.org/10.51798/sijis.v5i2.735.
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The research aimed to examine the implementation of international financial reporting standards in Latin America. To achieve this, a comprehensive literature review was conducted, including theses, scientific articles, and the International Financial Reporting Standards Foundation website. The analysis indicates that the adoption of international financial reporting standards in the 18 countries studied is driven by the goal of aligning with global accounting practices and facilitating transparent financial reporting. The results suggest that while each country has its own accounting methods, adopting these standards prompts a convergence process and influences accounting procedures.
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Odilov, Dilshod Qudratilla ogli. "ANALYSIS OF HOW THE ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (UFRS) AFFECTED GLOBAL ACCOUNTING PRACTICES AND FINANCIAL REPORTING." Journal of Contemporary World Studies 3, no. 1 (2025): 106–14. https://doi.org/10.5281/zenodo.14744615.
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This article looks at how using International Financial Reporting Standards (IFRS) affects accounting practices and financial reporting around the world, with a particular focus on standardising reporting methods and the effect on the quality and comparability of financial statements in different countries. By examining financial reports, accounting methods, and stakeholder views in several nations before and after the introduction of IFRS, the research shows that using IFRS has greatly improved the consistency and clarity of financial reporting, resulting in better comparability among healthcare organisations globally. Important findings suggest that healthcare organisations see greater investor trust and better access to funding, as clearer financial information helps lower the gap in knowledge. The importance of these findings could help create a stronger financial setting in healthcare, encouraging accountability and better decisions among stakeholders. Additionally, the wider effects of this research reach into policy-making, where adopting consistent accounting standards may improve regulations and support the overall stability of the global healthcare industry. This study not only highlights how IFRS changes the landscape of accounting, but also points to the essential relationship between standardised financial reporting and improved operational efficiency in healthcare, supporting ongoing alignment with international standards to promote sustainable financial practices.
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Sultan, Karam Hshim, Hayder Mohammed Hassan, Jassim Mohamed, Nadia Ahmed Abbas, and Stepan Kubiv. "The Effects of International Financial Reporting Standards on Global Capital Markets." Journal of Ecohumanism 3, no. 5 (2024): 604–20. http://dx.doi.org/10.62754/joe.v3i5.3926.
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Background: The adoption of International Financial Reporting Standards (IFRS) has significantly reshaped financial reporting practices worldwide. As global capital markets increasingly rely on standardized financial information, understanding the implications of IFRS is crucial for investors, policymakers, and corporations. Objective: This study examines the effects of IFRS adoption on global capital markets, focusing on market efficiency, comparability of financial statements, and investment decision-making. Methods: Using a dataset of 1,200 publicly traded companies across 30 countries, the study employs a difference-in-differences approach to compare pre- and post-IFRS adoption periods. Key metrics analyzed include market liquidity, volatility, and cross-border investment flows. Results: The findings indicate that IFRS adoption leads to a 15% increase in market liquidity and a 10% reduction in stock price volatility. Additionally, the comparability of financial statements improved by 25%, facilitating a more robust investment environment. Cross-border investment flows increased by 20%, highlighting the positive impact on global capital mobility. Conclusion: The adoption of IFRS has markedly enhanced the efficiency and stability of global capital markets. By improving financial statement comparability and fostering investor confidence, IFRS contributes to a more integrated and dynamic international financial landscape. These results underscore the importance of continued global cooperation in financial reporting standards to support sustainable economic growth.IFRS
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Kanu, David Hope. "Digital Currencies Financial Reporting and Auditing: A New Concern for Accounting Professionals in the Accounting Industry." International Journal of Economics, Business and Management Research 09, no. 01 (2025): 311–51. https://doi.org/10.51505/ijebmr.2025.9123.
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Accounting is a traditional profession of trust, and the financial reporting standards, auditing standards, rules, and regulations guiding accounting professionals' functions in the financial market have been established and have existed for years. Hence, the popularity and increases in businesses holding digital currencies (assets) in their financial statements create concerns for accounting professionals in the accounting industry worldwide. This qualitative study explores digital currencies financial reporting and auditing concerns for accounting professionals in the accounting industry. The study provides insights into the interplay between the accounting profession, standard-setting bodies, digital currencies, and blockchain, offering concerns for financial reporting and audit professionals in the accounting industry. Based on the results of the conducted study, accounting professionals currently face the following concerns and challenges when reporting and auditing organizations holding cryptocurrencies, stablecoins, nonfungible tokens (NFTs), and central bank digital currencies (CBDC in their financial statements, namely the absence of comprehensive and universal financial reporting standards, nonauthoritative auditing standards, the nonexistence of digital currency regulations, heightened digital currencies related crimes, high litigation risks, blockchain technology financial reporting, and auditing. Digital currencies present novelty challenges to accounting professionals that require modifying existing accounting and auditing standards or issuing new ones. Therefore, the study concludes that it is imperative for the International Accounting Standards Board (IASB), Financial Accounting Standards Board (FASB), International Auditing and Assurance Standards Board (IAASB), the American Institute of Certified Public Accountants (AICPA), Security Exchange Commission (SEC) and other global regulators to urgently develop and release comprehensive and uniform global accounting standards, auditing standards and digital currencies regulations to avoid discretionary judgment currently relied upon by accounting professionals in the accounting industry for digital currencies financial reporting and auditing.
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V, Ilakkiya. "The Evolution Of International Financial Reporting Standards (IFRS) And Its Impact On Global Business Practices." IOSR Journal of Economics and Finance 15, no. 5 (2024): 59–68. http://dx.doi.org/10.9790/5933-1505035968.
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The International Financial Reporting Standards (IFRS) have undergone significant evolution over the years, shaping the financial reporting on a global scale. The journey of IFRS began with the establishment of the International Accounting Standards Committee (IASC) in 1973, which laid the foundation for international accounting harmonization. Over time, the IASC transformed into the International Accounting Standards Board (IASB), which took on the responsibility of developing and issuing IFRS. The adoption of IFRS has become increasingly widespread, with many countries around the world either adopting the standards outright or converging their national standards with IFRS. One of the primary objectives of IFRS is to enhance the comparability, transparency, and reliability of financial reporting across borders. By providing a common set of accounting principles, IFRS facilitates better communication and understanding among stakeholders, including investors, creditors, regulators and other users of financial information. This standardization promotes efficiency in capital markets and encourages cross-border or cross-nation investment and business activities. IFRS is characterized by its principles-based approach, which emphasizes substance over form and allows for greater flexibility in financial reporting. Unlike rules-based standards, which prescribe specific treatments for various transactions, principles-based standards provide a framework for judgment, allowing preparers to alter their financial statements to reflect the economic reality of their transactions. The impact of IFRS extends beyond financial reporting to areas such as taxation, auditing, and regulatory compliance. While the adoption of IFRS has brought many benefits, it has also presented challenges for companies and regulators alike. The evolution of IFRS has had a profound impact on global business practices, promoting greater transparency, comparability, and efficiency in financial reporting. Through an examination of the evolution of IFRS, this research contributes to a deeper understanding of its profound influence on global business practices
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Ririn Breliastiti, Temy Setiawan, Tiwi Herninta, Vivianty, and Shelvy. "Implementation of Global Reporting Initiatives (GRI) Standards in Service Sector Companies." Dinasti International Journal of Economics, Finance & Accounting 4, no. 5 (2023): 648–60. http://dx.doi.org/10.38035/dijefa.v4i5.2074.
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This research is entitled Implementation of Global Reporting Initiatives (GRI) Standards in the Service Sector Companies. Sustainability reporting, aligned with global standards like the GRI Standards, has become imperative for organizations worldwide. This study delves into the application and effectiveness of these standards in diverse sectors, specifically the financial and healthcare industries. Investigating eight companies—four from each sector—this research assesses how GRI Standards guide sustainability reporting practices. The study analyzes the extent of adherence to these standards in disclosing economic, environmental, and social topics. Employing qualitative comparative analysis, Sustainability Reports were meticulously reviewed. Findings unveiled varying degrees of GRI Standards implementation, indicating a need for heightened awareness and training, especially in specific reporting areas. The study recommends investment in training programs for organizations to enhance their grasp and application of GRI Standards. Moreover, collaboration between regulatory bodies and industry associations is vital to formulate sector-specific guidelines, ensuring consistency in sustainability reporting across diverse industries. However, it's crucial to note that the study's scope is limited to the financial and healthcare sectors, warranting further research for a broader understanding of GRI Standards implementation across industries.
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Gupta, Renu. "NAVIGATING THE GLOBAL ACCOUNTING LANDSCAPE: ADVANCING FINANCIAL LEVEL REPORTING STANDARDS TO COMBAT FINANCIAL FRAUD." International Journal of Education, Modern Management, Applied Science & Social Science 5, no. 4(III) (2023): 125–33. http://dx.doi.org/10.62823/ijemmasss.5.4(iii).6342.
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Financial fraud stands as a formidable challenge within the global economic milieu. While extant literature has extensively scrutinized financial fraud reporting, scant attention has been directed towards exploring prevention strategies from the vantage point of auditors, particularly in burgeoning economies like India. This study delves into the adoption of accounting financial level reporting and the deployment of strategies for preventing financial fraud. Drawing from a sample comprising 199 auditors across various metropolitan cities in India, employing a convenience sampling methodology, this research elucidates the pivotal role of auditors' commentary in facilitating flexible and robust financial fraud reporting mechanisms. The findings underscore the indispensable role of auditors in the realm of fraud prevention, with both internal and external auditors frequently resorting to internal control reviews and enhancement strategies.
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Chertkova, A. V. "Studying the global use of international public sector accounting standards." Finance and Credit 26, no. 11 (2020): 2524–41. http://dx.doi.org/10.24891/fc.26.11.2524.
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Subject. The article analyzes the international application of the International Public Sector Accounting Standards (IPSAS) so as to evaluate and use successful practices of implementing and applying them, and avoid typical errors in settling and harmonizing the Russian accounting practice in accordance with the IPSAS. Objectives. I formulate what mainly distinguishes the international use of the IPSAS. Methods. The study is based on the comparative analysis method. Results. As a result of the study, I discovered some difficulties in implementing and adopting the IPSAS. In theory, the difficulties can be divided in two groups, i.e. technological, organizational and financial. The technological difficulties arise from the use of modern ICT ensuring fast and quality financial reporting under IPSAS. The organizational problem is about finance. Accounting reforms, accounting staff training entails considerable governmental spending. Conclusions and Relevance. Reforming the financial (budgetary) accounting process and financial reporting in Russia, authorities should refer to the international experience in the IPSAS. Doing so, they will be able to streamline the harmonization of financial reporting.
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Poyda-Nosyk, Nina, Robert Bacho, Viktoriia Makarovych, Gabriella Loskorikh, Veronika Hanusych, and Nataliya Stoika. "THE ROLE OF INTERNATIONAL ACCOUNTING STANDARDS IN FOSTERING CORPORATE REPORTING TRANSPARENCY." Financial and credit activity problems of theory and practice 2, no. 55 (2024): 90–106. http://dx.doi.org/10.55643/fcaptp.2.55.2024.4278.
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This research investigates the multifaceted impact of International Accounting Standards (IAS) on corporate reporting transparency. Amidst the interconnected global business landscape, the study aims to discern global adoption trends, financial reporting quality, stakeholder perceptions, implementation challenges, and the responsiveness of IAS to industry dynamics. Through meticulous analyses spanning the years 2010 to 2020, the research unfolds key insights.The adoption of IAS is a critical facet of global financial reporting, influencing business practices, investor decisions, and regulatory frameworks. Understanding its impact is paramount for policymakers, standard-setters, and businesses navigating an increasingly interconnected and diverse financial ecosystem.This research seeks to comprehensively examine the intricate relationship between IAS and corporate reporting transparency. By delving into adoption trends, financial metrics, stakeholder perspectives, implementation challenges, and update responsiveness, the study aims to provide a holistic view of the global accounting landscape.The analysis reveals a consistent upward trajectory in global IAS adoption, with North America and the Asia-Pacific region playing pivotal roles. Financial reporting quality experiences substantial improvements, particularly benefiting smaller enterprises. Stakeholder perceptions vary across regions and professional roles, emphasizing the need for tailored communication strategies. Implementation challenges, including legal framework complexities and cultural differences, underscore the intricate nature of global adoption. The frequency of IAS updates showcases the adaptability of standards to emerging trends, emphasizing sector-specific implications.This research concludes that IAS significantly influences corporate reporting transparency, offering a standardized framework for diverse business scales. Challenges in implementation necessitate targeted interventions, with recommendations focusing on stakeholder communication, tailored support for small enterprises, and addressing legal and cultural complexities. The adaptability of IAS to industry dynamics reaffirms its role as a responsive and evolving standard. As businesses, regulators, and standard-setters move forward, continuous collaboration and flexibility become imperative for navigating the complexities of a globally harmonized financial reporting landscape.
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Sinha, Manisha, and Gurminder Kaur Arora. "SECTORAL ANALYSIS OF PRINCIPLE 2 OF BRSR FILINGS." International Journal of Education, Modern Management, Applied Science & Social Science 06, no. 02(II) (2024): 203–12. http://dx.doi.org/10.62823/6.2(ii).6711.
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There is a growing global demand from investors for more rigorous regulations regarding non-financial disclosures. Internationally, several ESG reporting frameworks, such as the Global Reporting Initiative (GRI) , Carbon Disclosure Project (CDP) , Sustainability Accounting Standards Board (SASB) , and the Taskforce on Climate-related Financial Disclosures (TCFD) , have been established. These frameworks require companies to report on their sustainability performance, underlying principles, processes, and key performance indicators. The International Sustainability Standards Board (ISSB) has issued a global baseline for sustainability reporting in 2023 as IFRS S1(General Requirements for Disclosure of Sustainability-related Financial Information) and IFRS S2 (Climate-related Disclosures) .
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Khichi, Mahendra K. "INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) VS. US GAAP: A GLOBAL PERSPECTIVE." International Journal of Global Research Innovations & Technology 02, no. 03 (2024): 139–48. http://dx.doi.org/10.62823/ijgrit/02.03.6914.
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In light of the growing tendency of firms extending their operations into international markets, the adoption of worldwide accounting standards has become more urgent. The direction of attempts to bring international accounting standards closer to parity with US GAAP has been drastically changed as a result of two recent opinions issued by the SEC with a considerable impact. This article discusses the consequences that the SEC's decision to allow international enterprises to use IFRS in financial reporting, separate from reconciliation to US GAAP, has had on investors, multinational corporations, and global financial reporting by examining the implications of this decision. The idea that the Securities and Exchange Commission (SEC) has to bring together foreign authorities to discuss the harmonization of accounting standards is also discussed. According to the Securities and Exchange Commission (2018), the International Accounting Standards Committee Foundation (IASCF) is planning to establish a Monitoring Group that will include of the European Commission, the Japan Financial Services Agency, and the International Organization of Securities Commission (IOSC). In this section, we will examine the differences between IFRS and US GAAP. After careful consideration, the authors have arrived at the conclusion that there is an immediate need for a unified set of global accounting standards that are based on both IFRS and US GAAP. Many of the problems that have been plaguing the globe's financial reporting system will be resolved, and as a consequence, the economy of the whole world will become more secure and prosperous.
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Ramadan, Abdulhadi, and Amer Morshed. "Impact of international accounting standards on Hungary’s financial transparency." Investment Management and Financial Innovations 21, no. 4 (2024): 11–24. http://dx.doi.org/10.21511/imfi.21(4).2024.02.
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Acceptance and implementation of international financial reporting standards ensure a wider scope for financial transparency, accountability, and comparability on a global scale. Against this backdrop, this study looks at the implications of these standards on Hungary’s financial transparency by evaluating panel data from 716 private companies over the period 2013–2023. The Hausman test results suggest that Fixed and Random Effects models should be used.The analysis indicates that, on average, the sampled companies have improved financial transparency by 75%. Key determinants include standard adoption (0.025 coefficient, t = 8.333, p &amp;lt; 0.001), cost of implementation (2.400 coefficient, t = 24.000, p &amp;lt; 0.001), investor confidence (0.035 coefficient, t = 11.667, p &amp;lt; 0.001), and legislative changes (2.450 coefficient, t = 24.500, p &amp;lt; 0.001). Moreover, it is possible to obtain significant positive effects on the centered variables for implementation costs (coefficient = 2.498, p &amp;lt; 0.001) and government efficiency (coefficient = 0.036, p &amp;lt; 0.001).These results demonstrate a positive effect, which is significantly created by adopting these standards on financial transparency. They underline increased investor confidence and government efficiency as drivers of these improvements. Applying these standards in Hungary’s financial reporting system is classified as a strategic tool to foster economic stability and attract foreign investment, which ensures Hungary’s good standing in the global economy.
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Asri, Marselinus. "The Impact of International Financial Reporting Standards on Global Accounting Practices." Atestasi : Jurnal Ilmiah Akuntansi 7, no. 1 (2024): 687–703. http://dx.doi.org/10.57178/atestasi.v7i1.864.
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This study examines the impact of International Financial Reporting Standards (IFRS) on global accounting practices, focusing on financial reporting quality, economic outcomes, and the influence of regulatory and cultural contexts. A mixed-methods approach was employed, combining qualitative interviews with accounting professionals and quantitative analysis of financial statements from various countries. The study investigates the benefits and challenges of IFRS adoption, considering factors such as regulatory environments, cultural differences, and economic development levels. The findings reveal that IFRS’ adoption enhances financial reporting quality by increasing transparency, reducing earnings management, and improving the comparability of financial statements. These benefits are most pronounced in countries with robust regulatory frameworks. However, challenges include high costs and complexities of the transition process, especially for smaller firms and developing countries. Cultural and institutional factors significantly influence the effectiveness of IFRS adoption, with varying impacts across different economic contexts. The study's results underscore the need for supportive regulatory environments and adequate training for accounting professionals to facilitate effective IFRS adoption. Policymakers and regulators should consider tailored approaches to address different countries' challenges. Companies, particularly in developing regions, must plan and allocate resources carefully to manage the transition to IFRS. These insights offer practical guidance for enhancing the effectiveness of IFRS implementation worldwide.
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Odilov, Dilshod Qudratilla ogli. "ANALYSIS OF THE IMPACT OF THE ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) ON GLOBAL ACCOUNTING PRACTICES AND FINANCIAL REPORTING." Journal of Contemporary World Studies 3, no. 1 (2025): 127–35. https://doi.org/10.5281/zenodo.14744971.
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This article looks at how using International Financial Reporting Standards (IFRS) affects accounting practices and financial reporting around the world, with a particular focus on standardising reporting methods and the effect on the quality and comparability of financial statements in different countries. By examining financial reports, accounting methods, and stakeholder views in several nations before and after the introduction of IFRS, the research shows that using IFRS has greatly improved the consistency and clarity of financial reporting, resulting in better comparability among healthcare organisations globally. Important findings suggest that healthcare organisations see greater investor trust and better access to funding, as clearer financial information helps lower the gap in knowledge. The importance of these findings could help create a stronger financial setting in healthcare, encouraging accountability and better decisions among stakeholders. Additionally, the wider effects of this research reach into policy-making, where adopting consistent accounting standards may improve regulations and support the overall stability of the global healthcare industry. This study not only highlights how IFRS changes the landscape of accounting, but also points to the essential relationship between standardised financial reporting and improved operational efficiency in healthcare, supporting ongoing alignment with international standards to promote sustainable financial practices.
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Lawalata, Josina, and Ilham Z. Salle. "The Impact of International Financial Reporting Standards on Global Accounting Practices." Advances in Applied Accounting Research 2, no. 2 (2024): 83–93. http://dx.doi.org/10.60079/aaar.v2i2.262.
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Purpose: This study examines the impact of International Financial Reporting Standards (IFRS) on global accounting practices, focusing on financial reporting quality, economic outcomes, and the influence of regulatory and cultural contexts. Research Design and Methodology: A mixed-methods approach was employed, combining qualitative interviews with accounting professionals and quantitative analysis of financial statements from various countries. The study investigates the benefits and challenges of IFRS adoption, considering factors such as regulatory environments, cultural differences, and economic development levels. Findings and Discussion: The findings reveal that IFRS adoption enhances financial reporting quality by increasing transparency, reducing earnings management, and improving comparability of financial statements. These benefits are most pronounced in countries with strong regulatory frameworks. However, challenges include high costs and complexities of the transition process, especially for smaller firms and developing countries. Cultural and institutional factors significantly influence the effectiveness of IFRS adoption, with varying impacts across different economic contexts. Implications: The study's results underscore the need for supportive regulatory environments and adequate training for accounting professionals to facilitate effective IFRS adoption. Policymakers and regulators should consider tailored approaches to address specific challenges faced by different countries. Companies, particularly in developing regions, must plan and allocate resources carefully to manage the transition to IFRS. These insights offer practical guidance for enhancing the effectiveness of IFRS implementation worldwide
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Angeloni, Silvia. "Cautiousness on convergence of accounting standards across countries." Corporate Communications: An International Journal 21, no. 2 (2016): 246–67. http://dx.doi.org/10.1108/ccij-06-2015-0034.
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Purpose – The purpose of this paper is to provide an updated picture of the convergence process between International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (US GAAP), with IFRS clearly emerging as a global financial reporting benchmark. This study is aimed at evaluating the main benefits but also some significant issues arising from the adoption of a single set of accounting standards. Design/methodology/approach – The main examples of theoretical and empirical literature for and against IFRS implementation are reviewed. Findings – Since markets became increasingly global, the comparability of financial statements is required to enable better corporate communication and transparency to the advantage of all stakeholders. The main difficulties of IFRS adoption by the USA are explored. Practical implications – The study’s implications are to emphasize the practical obstacles to resolving the issues of financial communication through a uniform set of standards, by highlighting the importance of taking into account other dynamics in improving the corporate disclosure domestically and globally. Originality/value – The key contribution of this study is to reflect on the best ways to reach global communication without sacrificing the effectiveness and affordability of financial reporting.
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Masum, Mahmud Al, and Lee D. Parker. "Local implementation of global accounting reform: evidence from a developing country." Qualitative Research in Accounting & Management 17, no. 3 (2020): 373–404. http://dx.doi.org/10.1108/qram-10-2018-0073.
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Purpose While the world-wide adoption of international financial reporting standards (IFRS) aims to eliminate differences in national accounting standards between countries, the socio-political institutions surrounding financial reporting practices remain localised. This paper aims to penetrate and reveal the manner in which local national context, stakeholder intentions and financial reporting practices can moderate the compliance with IFRS in a developing country. Design/methodology/approach An interview-based qualitative research framework was used to analyse the experience and attitudes of accountants, auditors and financial reporting regulators during a passage of accounting reform initiatives. Findings This paper provides a critical analysis of the financial reporting practices of a developing country that has ostensibly implemented accounting reforms prescribed by the World Bank. It has revealed the key firm- and field-level logics that are experienced and managed by regulators and corporate managers in their approaches to financial reporting and accountability. The World Bank-led accounting reform can be constrained by a complex mix of institutional logics originating from market and corporate structures, networks of institutionalised family and political relationships, professional and regulatory structure and resourcing limitations and cultural business conventions. This paper provides evidence of firm- and field-level logics that contest and influence the emergence of a financial reporting oversight body and lead to highly variable compliance with international accounting standards. Originality/value This paper aims to extend our knowledge beyond broad national-level elements of institutional orders. It presents a more penetrating examination of the existence and contestation of logics originating from various local and global actors and interests. It presents a theoretical mapping of institutional logics, which operate in international and local settings and also encompass firm- and field-level imperatives. Any effort to understand and improve accounting practices of a developing country need to consider the power, contestation and influence of multiple logics operating in its institutional environment.
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Savina, N., N. Pozniakovska, and O. Miklukha. "CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING: INTEGRATED POLICY." Financial and credit activity: problems of theory and practice 1, no. 36 (2021): 76–83. http://dx.doi.org/10.18371/fcaptp.v1i36.227624.
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The project of the International Accounting Standards Board that updates and develops international accounting standards (IASB) has been lasting more than twenty years. In Ukraine, International accounting standards were adopted as the national standards for business and public sectors.
 The article analyzes the Conceptual Framework for Financial Reporting for the business sector entities, compares it with the Conceptual Framework for financial reporting for the public sector entities, and the current requirements of the Ukrainian legislation in the field of accounting and financial reporting. The necessity of creating a single Conceptual Framework for financial reporting, based the needs of information users, is substantiated.
 The relevant International Standards for the business sector entities became fundamental for the development of International Public Sector Accounting Standards. The similar needs of financial reports users support this approach. At the same time, part of the IPSAS, and the Conceptual Framework take into account the functional peculiarities of the entities in this sector of the economy.
 Financial reporting concepts for entities in any sector of the economy determine the aim of financial reporting as that to acquire information concerning the entity. Investors, creditors, other lenders are prior users of financial information in the business sector while society as a whole uses information in the public sector. The Conceptual Framework for the public sector takes into account the peculiarity of this sector of the economy, the main purpose of which is to provide services to society, rather than generating profits and ensuring the return on capital of investors.
 The common features of financial reporting standards and their Conceptual Framework, taking into account current trends and global challenges, indicate the possibility and feasibility of creating a unified (integrated) Conceptual Framework for Financial Reporting.
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Pasko, Oleh, Mykola Hordiyenko, Fuli Chen, Yarmila Tkal, and Yulia Abraham. "Mapping Global Research on International Financial Reporting Standards: A Scientometric Review." International Journal of Financial Research 12, no. 3 (2021): 116. http://dx.doi.org/10.5430/ijfr.v12n3p116.
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For the purpose to provide scholars with a more quantifiable and visualized snapshot of the realm of IFRS research (lingua franca in global business today) we conducted a scientometric review of 973 articles related to the issue published during the period from 2009 to 2020 and indexed in the Web of Science Core Collection. The findings show that the number of related articles has been increasing year by year. The global research on IFRS has been produced chiefly in the USA, England, Australia, China and Germany which not only generated majority of the high-yielding research institutions as well as productive authors but also countries of origins most of the prolific journals. Among the innumerable subject matters debated in these selected papers key are earnings management, information disclosure quality, accounting standards, the impact of IFRS, value relevance, and IFRS adoption. Since 2009, IFRS research bursts can be divided into three stages: 1) the period from 2009 to 2011 - mainly focused on the discussion of the concepts of IAS and IFRS; 2) the period from 2012 to 2014 turned to the theoretical level, and 3) from 2016 to 2020 when the research focused on the practical level. This scientometric review would complement and enrich existing literature by incorporating a quantitative perspective into it.
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Jackling, Beverley. "Global Adoption of International Financial Reporting Standards: Implications for Accounting Education." Issues in Accounting Education 28, no. 2 (2013): 209–20. http://dx.doi.org/10.2308/iace-50391.
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Kwansa, Francis A. "Diversity in Accounting Standards and Financial Reporting Practices: A Global Perspective." Journal of Hospitality Financial Management 3, no. 1 (1993): 29–43. http://dx.doi.org/10.1080/10913211.1993.10653655.
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Pasko, Oleh, Fuli Chen, Mykola Hordiyenko, Yarmila Tkal, and Yulia Abraham. "Mapping Global Research on International Financial Reporting Standards: A Scientometric Review." International Journal of Financial Research 12, no. 3 (2021): 116–34. https://doi.org/10.5430/ijfr.v12n3p116.
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For the purpose to provide scholars with a more quantifiable and visualized snapshot of the realm of IFRS research (lingua franca in global business today) we conducted a scientometric review of 973 articles related to the issue published during the period from 2009 to 2020 and indexed in the Web of Science Core Collection. The findings show that the number of related articles has been increasing year by year. The global research on IFRS has been produced chiefly in the USA, England, Australia, China and Germany which not only generated majority of the high-yielding research institutions as well as productive authors but also countries of origins most of the prolific journals. Among the innumerable subject matters debated in these selected papers key are earnings management, information disclosure quality, accounting standards, the impact of IFRS, value relevance, and IFRS adoption. Since 2009, IFRS research bursts can be divided into three stages: 1) the period from 2009 to 2011 - mainly focused on the discussion of the concepts of IAS and IFRS; 2) the period from 2012 to 2014 turned to the theoretical level, and 3) from 2016 to 2020 when the research focused on the practical level. This scientometric review would complement and enrich existing literature by incorporating a quantitative perspective into it.
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Odilov, Dilshod Qudratilla ogli. "NAVIGATING INTERNATIONAL ACCOUNTING ISSUES IN A GLOBALIZED ECONOMY." Journal of Contemporary World Studies 3, no. 4 (2025): 193–200. https://doi.org/10.5281/zenodo.15493479.
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This article analyzes the key international accounting challenges faced by businesses and regulators in an increasingly globalized economy. With the expansion of cross-border transactions, multinational corporations encounter differences in accounting standards, reporting requirements, and tax regulations. The study emphasizes the role of International Financial Reporting Standards (IFRS) in harmonizing global accounting practices and explores the impact of cultural, legal, and institutional differences on financial transparency and comparability. Through comparative analysis and case studies, the article highlights the need for improved international cooperation, capacity-building, and adoption of digital tools to ensure accuracy and consistency in global financial reporting.
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Barth, Mary E. "Research, Standard Setting, and Global Financial Reporting." Foundations and Trends® in Accounting 1, no. 2 (2006): 71–165. http://dx.doi.org/10.1561/1400000002.
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Pozniakovska, Nataliia, Dmytro Nikytenko, and Olena Tyvonchuk. "TRANSFORMATION OF NON-FINANCIAL REPORTING ON THE PATH TO SUSTAINABLE DEVELOPMENT OF SOCIETY." Baltic Journal of Economic Studies 11, no. 2 (2025): 47–56. https://doi.org/10.30525/2256-0742/2025-11-2-47-56.
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The relevance of the study is driven by society's management demands for financial and non-financial information regarding the activities of its entities, thereby highlighting the importance of modern informational and accounting support for civil society. Research on governance success indicators in European countries has demonstrated the necessity to develop effective mechanisms and tools for government and business influence on achieving sustainable development goals. The study delineates the significance, role, evolution, and development of sustainability reporting at macro-, meso-, and micro-levels, transitioning from past non-financial information to sustainability reporting in the interest of society. The present study examines the history of non-financial reporting implementation worldwide, analysing survey results from large and medium-sized businesses regarding the adoption of sustainability frameworks. The Global Reporting Initiative (GRI) standards and recommendations, which are oriented towards global stakeholders, are recognised as the most widely used worldwide. The IFRS Sustainability Standards have established a process based on integrative thinking, leading to the formation of integrated reporting, which includes sustainability information. There has been a significant increase in the proportion of companies using stock exchange sustainability standards or recommendations. In addition, the study provides a comprehensive review of recent changes to the Exposure Draft Management Commentary, focusing on management's disclosure of factors affecting a company's financial condition and future prospects. The global shift towards mandatory sustainability reporting, as evidenced by the introduction of European Directives (NFRD, CSRD), aims to establish disclosure of responsible business practices. This study examines the challenges and prospects of sustainability reporting in Ukraine. Large companies in Ukraine prepare non-financial annual reports based on the Global Reporting Initiative (GRI) standards or in accordance with the United Nations Global Compact (UN SDGs). It is obligatory for Ukrainian medium and large companies to submit a Management Report, which includes financial and non-financial information characterising the company's condition and development prospects, while disclosing key risks and uncertainties. However, medium-sized enterprises frequently fail to provide non-financial information, and the quality of information presented in domestic management reports remains substandard. The present study analyses the challenges and prospects of adopting sustainability frameworks by Ukrainian small enterprises. The proposal calls for the narrative reporting format to be recognised as a distinct reporting type, characterised by its accessibility and comprehensibility to a wide audience of financial report users. In the context of a contemporary information society, there is an increasing expectation that narrative reporting will be accorded a higher priority than financial reporting. The underlying reason for this is that the former is more suited to meeting the needs of society as a whole, in terms of both format and purpose. In the contemporary phase of societal evolution, the transparency of non-financial reporting and the comprehensive array of standards for its preparation are optimally aligned with the interests of primary stakeholders.
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Jansson, Andreas. "Global financial reporting convergence: A study of the adoption of International Financial Reporting Standards by the Swedish accountancy profession." Competition & Change 24, no. 5 (2018): 429–49. http://dx.doi.org/10.1177/1024529418808970.
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International Financial Reporting Standards (IFRS) is a financial reporting standard for listed corporations in more than half of the world’s countries. This wide adoption combined with its influence on accounting in countries that have not formally adopted it makes IFRS a remarkable case of far-reaching convergence. This paper develops a framework that integrates institutional theory and political economy and employs a discourse analytical approach to address the issue of why the Swedish accountancy profession came to accept and adopt IFRS. The analysis covers the professional debates regarding the measurement of the value of assets and liabilities in the main professional journal over the nearly two decades in which IFRS was gradually integrated into the local accounting standards on a voluntary basis prior to its formal adoption. The analysis emphasizes the combination of a pervasive international development discourse that stresses the significance of financial markets developing into a sense of inevitability and an elite portion of the accountancy profession with a vested interest in change. IFRS can be seen as a strategic professionalization project for the elite members of the accountancy profession which, combined with financial interests, led to its endorsement of the changes and alignment with forces of financialization.
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Makarenko, Inna, and Serhiy Makarenko. "Multi-level benchmark system for sustainability reporting: EU experience for Ukraine." Accounting and Financial Control 4, no. 1 (2023): 41–48. http://dx.doi.org/10.21511/afc.04(1).2023.04.
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The paper analyzes the key European benchmarks in the field of compiling and submitting sustainability reports. The analysis concerns the disclosure of their features in the context of considering the introduction in Ukraine to increase transparency, accountability and investment attractiveness of Ukrainian enterprises. Based on content and comparative analyses, a comparison was made of the key provisions of sustainability reporting issued by various standards-setters (ISSB (International Sustainability Standards Board), EFRAG (European Financial Reporting Advisory Group), SEC (The United States Securities and Exchange Commission), GRI (Global Reporting Initiative), and IIRC (International Integrated Reporting Council)) as a methodological level of the system of such benchmarks. The global impact of the specified benchmarks is complemented by an analysis of the impact of Directive 2014/95/EU (Non-Financial Reporting Directive – NFRD) and the new Directive 2022/2464/EU (Corporate Sustainability Reporting Directive – CSRD) on the introduction of the sustainability reporting. It is proved that in the context of the formation of the Ukrainian accounting system on the way to European integration, the transposition of the requirements of these Directives is the first step towards streamlining the regulatory framework for companies’ sustainability reporting. A two-level sustainability reporting benchmark system is presented, which at the operational level is based on the EU directives on disclosure of non-financial information and sustainability reporting, and at the methodological level – on the European Sustainability Reporting Standards and other generally accepted standards. Acknowledgment Inna Makarenko gratefully acknowledges support from the Supreme Council of Ukraine (0122U201796).
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Dasila, Rifqa Ayu. "Analysis of Alternative Financial Reporting Integration with Traditional Financial Reporting for Corporate Transparency." Advances in Applied Accounting Research 3, no. 1 (2025): 14–26. https://doi.org/10.60079/aaar.v3i1.430.
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Purpose: This study aims to analyze the integration of alternative financial reporting, such as environmental, social, and governance (ESG) disclosures, with traditional financial reporting to enhance corporate transparency and stakeholder trust. It addresses how integrated reporting can bridge the gap between economic and non-financial disclosures by identifying key patterns, challenges, and best practices. Research Design and Methodology: This research adopts a qualitative approach using a Systematic Literature Review (SLR) method. Relevant studies published in reputable journals from 2018 onward were reviewed to identify trends, technical and strategic challenges, and recommendations for implementing integrated reporting. The analysis focuses on scholarly articles and industry reports to comprehensively understand integrated reporting practices across different sectors and regions. Findings and Discussion: The findings reveal that integrated reporting strengthens stakeholder trust by providing a holistic view of corporate performance and aligning sustainability initiatives with financial outcomes. The study identifies challenges such as inconsistent reporting standards, limited technological infrastructure, and resource constraints in data management. However, the findings also highlight how investments in data systems, staff training, and proactive communication can improve the credibility and consistency of integrated reports. Additionally, the study underscores the need for a flexible yet standardized reporting framework to accommodate diverse regulatory environments. Implications: This study offers practical implications for companies and regulators. For companies, it provides a roadmap for improving reporting practices through technology upgrades and workforce development. The findings emphasize the importance of global harmonizing ESG reporting standards for regulators. The study also contributes to the academic discourse by expanding the literature on stakeholder theory and integrated reporting practices, promoting sustainable and transparent corporate governance.
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Misrofingah, Misrofingah, Ela Widasari, Rudiyanto Rudiyanto, Hanifah Hanifah, and Herlina Herlina. "Challenges and Opportunities for Implementing IFRS Standards Globally." Journal Markcount Finance 2, no. 2 (2024): 274–84. https://doi.org/10.70177/jmf.v2i2.1290.
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Globally, the implementation of International Financial Reporting Standards (IFRS) offers many opportunities and challenges. Although IFRS standards aim to increase transparency and consistency in financial reporting worldwide, their implementation faces many challenges. One of the main challenges is differences in existing national accounting systems, which often require major adjustments to meet IFRS standards. Infrastructure and training readiness are additional issues. Many businesses, especially in developing countries, face difficulties in adopting the necessary technology and training staff to comply with IFRS standards. However, opportunities to improve the quality of financial reporting also arise as a result of implementing IFRS. To increase the credibility of financial reports and make it easier to compare company performance around the world, IFRS standards provide a more standardized and transparent framework. In addition, IFRS adoption can encourage regulatory harmonization and increase market efficiency by reducing differences in financial reporting between countries. Overall, although there are significant obstacles to the global adoption of IFRS standards, the benefits of transparency, credibility and market efficiency that they offer cannot be ignored.
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Rathke, Alex Augusto Timm, Verônica de Fátima Santana, Isabel Maria Estima Costa Lourenço, and Flávia Zóboli Dalmácio. "International Financial Reporting Standards and Earnings Management in Latin America." Revista de Administração Contemporânea 20, no. 3 (2016): 368–88. http://dx.doi.org/10.1590/1982-7849rac2016140035.
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Abstract This study analyzes the level of earnings management in Latin America after the adoption of the International Financial Reporting Standards (IFRS) and analyzes the role of cross-listing in the United States. The literature on earnings management in less developed countries is still under construction, and few studies focus on this issue, especially with respect to Latin America, despite its relevant role in the global economy. This paper fills this gap in the literature as it analyzes the level of IFRS earnings management regarding the first and main Latin American countries applying IFRS (Brazil and Chile), when compared to the main Anglo-Saxon countries with IFRS tradition (United Kingdom and Australia), and with the main Continental European economies (France and Germany). The results show that Latin American firms present a higher level of earnings management than Continental European and Anglo-Saxon firms, and this opportunistic behavior remains significant when only global players with cross-listing in the United States are analyzed. Thus, even with a unique set of high quality accounting standards (IFRS) and strong reporting incentives, countries' specific characteristics still play an important role in the way IFRS is implemented in each country.
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MYSAKA, Hanna, Ivan DERUN, and Iryna SKLIARUK. "The Role of Non-Financial Reporting in Modern Ecological Problems Updating and Solving." Journal of Environmental Management and Tourism 12, no. 1 (2021): 18. http://dx.doi.org/10.14505/jemt.v12.1(49).02.
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The relevance of the paper is due to the conscious demand of society for ecological results data of business against the background of climate change and ecological disasters. The purpose of the article is to develop recommendations aimed at improving informativeness and reliability of the companies’ non-financial reporting on their ecological management. The study is based on a legitimacy and legality analysis of the global practice of compiling and submitting non-financial reporting. It is determined that the Global Reporting Initiative (GRI) Standards are the most popular among the public-interest entities for the preparation of non-financial reporting. The authors have structured a set of current GRI Standards 300 series (Environmental topics) on the issues’ content. The authors have formed practical proposals increasing the informativeness of non-financial reporting, which is made according to the GRI Standards by identifying the need for additional data disclosure about the company’s policies on resource consumption, environmental protection, hazardous emissions and waste management. These proposals will help increase the credibility of non-financial reporting indicators by providing cross-sectional information on the same phenomenon or event in case of the absence of independent control over the statement’s reliability. It will be an important argument in favour of non-financial reporting as a data source for all stakeholders’ decision-making.
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Barney, Douglas, and Michael J. McEvoy. "Comparing Canadian and U.S. Agricultural Financial Reporting Standards." Canadian Journal of Agricultural Economics/Revue canadienne d'agroeconomie 40, no. 4 (1992): 643–51. http://dx.doi.org/10.1111/j.1744-7976.1992.tb03725.x.
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Dixit, Ms. Sweta, and Dr. Ashish Kumar Saxena. "A STUDY ON THE USEFULNESS OF FINANCIAL REPORTING IN INDIAN CORPORATE SCENARIO: A COMPARISON OF PAST AND CURRENT PRACTICES." ANVESAK 54, no. 1 (IV) (2024): 96–107. https://doi.org/10.5281/zenodo.11227803.
Full textAbstract:
Money is always the most fungible asset, when it is considered as the part of the investment. Therefore, it becomes crucial to have some standards. The performance of the business can be evaluated with the help of financial reporting. The financial reporting should meet the compliance as per certain requirements or in accordance with the global reporting structure. This orientation lead to the requirement of harmonized accounting standards or globally accepted accounting or financial reporting standards which comprise financial reporting structure that is accepted worldwide. Therefore, global accounting standards also known as “International Financial Reporting Standards” issued by ''International Accounting Standards Boards". In this paper, the researcher investigated the usefulness of past and current practices based on certain factors. Also, the researcher studied the difference between the practices prior to IFRS and current practices under IFRS. The primary data was collected through a questionnaire which contains the questions based on factors and demographic profile of the respondents. The simple random samplingdesign was used to collect the data. The sampling unit for the study was the employees of the listed companies in Indian Stock Market. The total number of respondents was 180 out of that only 159 were found suitable for the study.SPSS 24 was used for data analysis. Statistical methods used for the study were descriptive and inferential statistics; these were arithmetic mean, weighted average mean, standard deviation, percentage, frequency and cronbach"s alpha for reliability test. The study concluded that there was a significant difference between the overall practicing methods, i.e. IFRS is more specific towards its goals and agenda. IFRS have brought more stability among the countries of the globe.