Series editor(s): Professor Mathew Tsamenyi and Prof. Shahzad Uddin
Subject Area: Accounting and Finance
Options: To add Favourites and Table of Contents Alerts please take a Emerald profile
|Title:||Corporate governance and International Financial Reporting Standard (IFRS): The case of developing countries|
|Author(s):||Ronita D. Singh, Susan Newberry|
|Volume:||8 Editor(s): Mathew Tsamenyi, Shahzad Uddin ISBN: 978-1-84855-252-4 eISBN: 978-1-84855-253-1|
|Citation:||Ronita D. Singh, Susan Newberry (2008), Corporate governance and International Financial Reporting Standard (IFRS): The case of developing countries, in Mathew Tsamenyi, Shahzad Uddin (ed.) Corporate Governance in Less Developed and Emerging Economies (Research in Accounting in Emerging Economies, Volume 8), Emerald Group Publishing Limited, pp.483-518|
|DOI:||10.1016/S1479-3563(08)08016-X (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Article type:||Chapter Item|
Purpose – Corporate governance requirements imposed internationally as part of the New International Financial Architecture (NIFA) include compliance with International Financial Reporting Standards (IFRS). The appropriateness of applying IFRS in developing countries has long been controversial. Recently, the International Accounting Standards Board (IASB) extended its project on IFRS for Small and Medium Entities (SMEs) to include developing countries. This paper provides a history of the controversy over IFRS in developing countries and examines the SMEs project as it affects developing countries.
Design/methodology/approach – This paper uses an agenda-setting theoretical framework and document analysis to analyse IASB's published documents as part of its formal due process.
Findings – The controversies surrounding the application of IFRS in developing countries seem likely to continue. The public submission process may be ineffective and too late for those seeking to influence IFRS developments. The findings suggest that those seeking IFRS for developing countries may need to both devise an acceptable solution and obtain inside access to the standard-setting process to achieve this aim.
Research limitations – The research is limited to literature review and documentary analysis and therefore subject to the known limitations of published project documentation in accounting standard-setting.
Originality/value – Contributes to understanding of international accounting standard-setting, including why developing country issues seem likely to continue.
To purchase this item please login or register.
Complete and print this form to request this document from your librarian