文章基本信息

标题：Convergence of IFRS in Global Accounting System: Where do SAARC Countries stand for?
本地全文：下载
作者：Shivaji Borhade ; Munadhil Abd Aljabar Alsalim ; Ali Omer Mohammed 等
期刊名称：journal of accounting, finance and auditing studies
电子版ISSN：2149-0996
出版年度：2018
卷号：4/3
页码：45-66
语种：
出版社：Ahmet GÖKGÖZ
摘要：The International Financial Reporting Standards (IFRS) has become universal financial reporting language as it is currently used by 166 (85%) (out of 195) countries in the Africa, Americas, Europe, Middle East and Asia and Oceana. Similarly, all eight country members of the South Asian Association for Regional Cooperation (SAARC) include Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka have accepted IFRS for presentation of financial statements of their public companies. In the era of globalistaion and liberalistion, IFRS are performing mounting significant role in the global accounting system. Therefore, this paper was intended to portray the process of convergence of IFRS in global accounting system and to identify the status of SAARC countries in convergence of IFRS. For this reason, secondary sources and review of literature were taken into consideration. The study demonstrated that IFRS set by International Accounting Standards Board (IASB) adopted by all countries have been altered slightly before accepting. The SAARC countries have also made minor modifications in IFRS and accepted in phased manner. The study concluded that the SAARC countries are facing number of problems that should be resolved for better convergence of IFRS.