International financial reporting standards and experts’ perceptions of disclosure quality.
From 2005, over 7,000 listed firms in the European Union and many more around the world are required to adopt International Financial Reporting Standards (IFRS). The introduction of a uniform accounting regime is expected to ensure greater comparability and transparency of financial reporting around...
| Publicado en: | Abacus Vol. 42; no. 3/4; pp. 461 - 499 |
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| Autores principales: | , |
| Formato: | Artículo |
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Wiley-Blackwell
Sep/Dec2006
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| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=hlh&AN=22707048&site=ehost-live header: @attributes: shortDbName: hlh uiTerm: 22707048 longDbName: Humanities International Complete uiTag: AN controlInfo: bkinfo: jinfo: jid: 00013072 AUB jtl: Abacus issn: 00013072 maglogo: Y pubinfo: dt: Sep/Dec2006 vid: 42 iid: 3/4 pid: 480 pub: Wiley-Blackwell artinfo: ui: 22707048 10.1111/j.1467-6281.2006.00211.x ppf: 461 ppct: 38 formats: fmt: @attributes: type: P size: 168KB tig: atl: International financial reporting standards and experts’ perceptions of disclosure quality. aug: au: Daske, Holger Gebhardt, Günther affil: Johann Wolfgang Goethe-University, Frankfurt am Main su: Accounting standards International accounting standards Financial statements Disclosure in accounting Fair presentation United States European Union countries sug: subj: United States European Union countries Accounting standards International accounting standards Financial statements Disclosure in accounting Fair presentation keyword: Best annual report contests Disclosure Information quality International Financial Reporting Standards (IFRS) ab: From 2005, over 7,000 listed firms in the European Union and many more around the world are required to adopt International Financial Reporting Standards (IFRS). The introduction of a uniform accounting regime is expected to ensure greater comparability and transparency of financial reporting around the world. However, recent research has questioned the quality of financial statements prepared under IFRS standards, particularly in the presence of weak enforcement mechanisms and adverse reporting incentives (Ball et al., 2003). In this paper, we assess the quality of the financial statements of Austrian, German and Swiss firms which have already adopted internationally recognized standards (IFRS or U.S. GAAP). The study makes use of available disclosure quality scores extracted from detailed analyses of annual reports by reputed accounting scholars (‘experts’). This work complements other contemporary research on the quality of IFRS financial statements where the properties of earnings are used as an evaluation metric (Barth et al., 2005). Our evidence shows that disclosure quality has increased significantly under IFRS in the three European countries we analyse. This result holds not only for firms which have voluntarily adopted IFRS or U.S. GAAP, but also for firms which mandatorily adopted such standards in response to the requirements of specific stock market segments. Although we cannot establish direct causality due to the inherent self-selection issues for most of our sample firms, the evidence shows that the quality of financial reports has increased significantly with the adoption of IFRS. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: Y custom: Copyright of Abacus is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. item: Abacus holder: Wiley-Blackwell dt: @attributes: year: 2006 holdings: @attributes: islocal: N |
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