Perceptions of Professionals Interested in Accounting and Auditing About Acceptance and Adaptation of Global Financial Reporting Standards

8 Pages Posted: 22 Nov 2013 Last revised: 14 Dec 2013

See all articles by Orhan Bozkurt

Orhan Bozkurt

Uludag University

Mehmet Islamoglu

Karabuk University

Yasar Oz

Bartin University

Date Written: February 14, 2013

Abstract

Nowadays, one of the final aims of the institutions working on transparency and standardization of financial statements, and the publication of standards related to the profession of accounting & auditing has been to put into practice a uniform global set of standards which will be applicable in finance. Before 2000, in the case of a preference between IFRS & US GAAP regarding which should be internationally accepted uniform set of application, world public opinion used to accept U.S. Generally Accepted Accounting Principles (US GAAP) as reference. Today, great majority of the world takes IFRS as a reference. This study contains evaluations related to the results of research on the thoughts & perceptions of the professionals interested in accounting and auditing about application and development of international financial reporting standards as national financial reporting standards. As a result of the research, it was determined that those interested in accounting and auditing see significant advantages in the application of IFRS. Accountants and auditors think that in case IFRS is applied, comprehensibility and reliability of financial statements shall increase, at the same time accounting frauds shall decrease.

Keywords: International Financial Reporting Standards, Turkish Accounting Standards, Benefit Interpretation, Perceptions of Standards Responsibility, Advantage of Application of International Financial Reporting Standards

JEL Classification: M40, M41, M42

Suggested Citation

Bozkurt, Orhan and Islamoglu, Mehmet and Oz, Yasar, Perceptions of Professionals Interested in Accounting and Auditing About Acceptance and Adaptation of Global Financial Reporting Standards (February 14, 2013). Journal of Economics, Finance & Administrative Science, Vol. 18, No. 34, 2013, Available at SSRN: https://ssrn.com/abstract=2358122

Orhan Bozkurt (Contact Author)

Uludag University ( email )

16059 Campus Gorukle Nilüfer
Bursa
Turkey

Mehmet Islamoglu

Karabuk University ( email )

Karabuk
Karabuk, Karabuk 78050
Turkey
00903702232533 (Phone)

Yasar Oz

Bartin University ( email )

Bartin
Turkey

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