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This study provides empirical evidence on changes in entities’ reporting of interests in joint ventures from proportionate consolidation to the equity method following adoption of IFRS 11 and their application of the corresponding IFRS 12 disclosure requirements. The sample includes 551 firms from 26 countries affected by the adoption of IFRS 11 (1,858 financial statements). The findings indicate that many firms are not fully complying with IFRS 12 disclosure requirements and that firm‐level characteristics (e.g., size, leverage, and ownership concentration) contribute more to explaining the level of (non)compliance, when compared to country‐level variables (e.g., legal system and emerging versus developed countries). We also find that the level of materiality of joint ventures is positively associated with the level of compliance with IFRS 12 disclosure requirements. Our results contribute to the literature on the determinants of compliance with IFRS Standards disclosure requirements and bring important insights for the post‐implementation review of IFRS 11 and IFRS 12 occurring between 2020 and 2022.

This paper expands prior International Financial Reporting Standards (IFRS) accounting systems’ classifications to a broader set of 27 countries where IFRS adoption is a widespread practice, as well as the US. It examines the issue of whether a US model of accounting that includes countries which have adopted IFRS exists. The results suggest a classification distinguishing between three groups of countries based on the similarity of their accounting practices: 1) Australia and New Zealand; 2) US‐influenced countries; and 3) South Africa, Oman and European countries. This study contributes to the literature not only by providing evidence of differences in accounting practices to a broader set of countries, but mainly by suggesting an economic explanation of the existence of accounting choices. In particular, economic proximity to the US may be an important factor influencing accounting practices in some countries, even after IFRS adoption.

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O objetivo é analisar os argumentos dos respondentes que se manifestaram durante o período de audiência pública do Exposure Draft 09 – Joint Arrangements, com o propósito de inferir sobre a adequação da decisão do IASB de eliminar a consolidação proporcional. Utilizando-se a técnica de análise de conteúdo, foram analisadas as 111 cartas enviadas para o IASB. Dessas, 107 se manifestaram sobre a eliminação da consolidação proporcional e 68 afirmaram não concordar com a decisão do IASB, evidenciando um elevado nível de rejeição. Os países com maior taxa de rejeição estão na Europa e os com maior aceitação são da Ásia. Dentre os grupos de interesse com maior rejeição estão as empresas de auditoria e as associações profissionais. Esta pesquisa argumenta que a consolidação proporcional resulta em informações contábeis de maior relevância que o MEP e que a divulgação de informações adicionais não compensará a perda informacional da consolidação proporcional.