12. Economic integration and accounting harmonization options in emerging markets: Adopting the IASC/IASB model in ASEAN

Saudagaran, Shahrokh M.; Diga, Jeselito G.

doi:10.1016/s1058-1995(03)05015-1

Cited by 6 publications

(2 citation statements)

References 17 publications

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“…Frey and Chandler (2007) suggest that adopting IFRS in developing countries would save time and the effort for these countries setting their own standards. Moreover, the adoption of IFRSs would lead to improve the quality of accounting which will, in turn, increase competitiveness (Saudagaran and Diga, 2003). The adoption of IFRS in some developing countries, therefore, has become mandatory due to the external pressure or the influence of the international organisations such as the IMF and the World Bank (Hooper and Morris, 2004).…”

Section: The Adoption Of Ifrss By Developing Countriesmentioning

confidence: 99%

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

Alsaqqa¹,

Sawan²

2013

IJBM

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This paper aims to assess the benefits gained and the challenges experienced by companies listed on the UAE stock market following the introduction of IFRS. Since the announcement by the European Union to adopt IFRS by listed companies, many countries have followed suit, hoping to gain competitive edge in attracting the Foreign Direct Investment to boost their economic growth. This study focuses on examining the advantages and challenges faced by companies listed on the UAE stock market listed companies as a result of adopting IFRS. The framework used in this analysis will be based on the identification and assessment of key drivers influencing companies listed on the UAE stock market. To what extent are these factors internal or external to the financial sector, but which have a direct bearing on the overall economic environment? The views and perceptions of the Chief Financial Officers' (CFOs) for Dubai and Abu Dhabi listed companies, financial analysts of the financial statements in the two listed companies and auditors will be analysed. Methodology:Questionnaires were used as the main method of data collection. Questionnaire were distributed in both Dubai and Abu Dhabi markets, The data obtained through the questionnaires have been imported into software for analysis, namely, the Statistical Package for the Social Sciences (SPSS). Findings:The results clearly show that the benefits of adopting IFRSs in UAE inevitably far outweigh the difficulties and costs. The findings also reveal that adoption of IFRSs in UAE stock markets has improved the overall standard of the quality of financial reporting, which help in attracting investors to invest in the UAE stock markets. However, many respondents were still apprehensive that effective and professional financial reporting decisions will be affected by the level of education of accounting users, the methods provided by some IFRSs, and the inadequate enforcement mechanisms.

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Section: The Adoption Of Ifrss By Developing Countriesmentioning

confidence: 99%

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

Alsaqqa¹,

Sawan²

2013

IJBM

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“…National financial reporting practices in transitional economies have evolved as a response to many socio‐economic domestic factors, including the level of economic development, the legal and regulatory system, educational and professional infrastructure, colonial heritage and history and culture (UNCTAD, 2000; Saudagaran and Diga, 2003; Kosmala‐MacLullich et al , 2004; Sevic, 2004). These factors are likely to have significant impacts on the utility of small company financial information.…”

Section: Introductionmentioning

confidence: 99%

Users' perceptions and uses of financial reports of small and medium companies (SMCs) in transitional economies

Son

Marriott

2006

Qualitative Research in Accounting &Amp; Management

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PurposeThe purpose of this paper is to report the findings of an exploratory study examining users' perceptions and uses of SMC financial reports in the transitional economy of Vietnam.Design/methodology/approachSemi‐structured interviews were conducted with a wide range of users of financial information.FindingsThe range of users of financial information was limited, mainly the tax authorities and government agencies. Banks were considered to be another important user, but only by a minority of the companies interviewed. External users were concerned with the reliability of information provided by SMCs. In addition to the main indicators in the financial statements, cash flow information and forecasts were seen as important, but these were normally unavailable or poorly presented.Research limitations/implicationsAs the study focuses on a small sample of users of financial information, the generalisability of the findings is restricted. Appropriately designed quantitative studies could be conducted to verify the findings of this study.Practical implicationsAccounting expertise was seen as the main concern in the directors' use of information. The study also found a low awareness of cost‐benefit considerations amongst the directors of SMCs. Auditing was regarded as infeasible because of the low quality of the audits available and inadequate capacity of auditors to supply the small company market.Originality/valueThe study offers rich data on the users' perceptions and uses of financial information of SMCs. This is the first time this type of research has been conducted in Vietnam.

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Acceptance of International Accounting Standard-setting: Emerging Economies versus Developed Countries

Fry¹,

Chandler²

2006

Accounting, Banking and Corporate Financial Management in Emerging Economies

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12. Economic integration and accounting harmonization options in emerging markets: Adopting the IASC/IASB model in ASEAN

Cited by 6 publications

References 17 publications

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

The Advantages and the Challenges of Adopting IFRS into UAE Stock Market

Users' perceptions and uses of financial reports of small and medium companies (SMCs) in transitional economies

Acceptance of International Accounting Standard-setting: Emerging Economies versus Developed Countries

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