A QUALITATIVE ANALYSIS OF THE GLOBAL IFRS ADOPTION. TRUSTEES PERSPECTIVE

Abstract

In this article we take a closer look to the possible effects of adopting the IAS / IFRS standards around the globe. The need for a common financial reporting language is not a new idea, being developed since the mid ’50 by several scholars of the time. In an international global market, the need for a unified vision on how and what to report is supported especially by the activity of multinationals and their impact in the local host countries. In this respect, the International Accounting Standards Board (IASB) which is the authorized body issuing International Financial Reporting Standards (IFRS) is concerned on the impact of adopting the IFRSs worldwide. In order to determine what is the IASB opinion regarding this impact we turned to the concerns of the trustees. Using 3 interviews conducted with three of the trustees of IFRS on the possibility of creating a global accounting language we realized a content analysis of the responses given. The results obtained after auto coding the responses of the trustees in NVivo, a program used in qualitative analysis highlighted that the standards adoption is an important part of the accounting process in multiple countries, the national experiences being significant to the board of trustees in order to make improvements to standards at a global level.

Keywords

• ifrs
• financial information
• adoption impact
• europe
• asia