Emeni, F. K. (2013) International Financial Reporting Standards (IFRS) Adoption in Africa: Does Cultural Affinity to Europe Play a Part? Nirma University Journal of Business and Management ·studies, 8 (1 & 2). pp. 3-16. ISSN 2249-5630
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Abstract
One of the essential ingredients of accounting information is ease in understanding and interpreting financial reports. Globalization and capital flows across borders require uniformity in accounting standards for the purpose of ease in understanding and interpretation of financial reports globally. To achieve this, the International Accounting Standards Board (IASB) in 2005 introduced the International Financial Reporting Standards (IFRS) as an accounting product and expects all countries in the world to adopt it. Interestingly, some countries are yet to adopt it despite the expected benefits from its adoption. A study by Simon Fraser University (2011) has reported that only 54 per cent of Mrican countries have adopted IFRS. Literature on why countries adopt IFRS focuses on many variables such as the country's cultural affinity to Europe offering the IFRS product (Ramanna and Sletten, 2009; Farooque, Yarram, and Khandaker, 2009; Epstein, 2009; Beneish, Miller, and Yohn, 2010; and Chen, Ding, and Xu, 2011).
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 23 Apr 2015 13:46 |
| Last Modified: | 23 Apr 2015 13:46 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/5097 |
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