Chapter 7 Implications and Directions for Future Research
ISBN: 978-1-78052-442-9, eISBN: 978-1-78052-443-6
Publication date: 23 December 2011
Abstract
We have considered both the de jure and de facto aspects of comparability in financial reporting. Generally, the findings presented in this monograph show that there is a lack of both de jure and de facto comparability in financial reporting across countries. We have considered the de jure aspect of comparability in financial reporting by identifying the ways in which IFRS are adopted and enforced in the South Pacific region and also investigated the relationship between country-specific characteristics and the selection of the appropriate approach for adoption. An examination of the convergence process in the South Pacific region provides evidence that countries use different approaches in their adoption of IFRS. We have broadly identified five different approaches for convergence and harmonization of accounting standards, ranging from adoption of IFRS in their entirety to the lack of reference to IFRS, that is, no convergence or harmonization.
Citation
Chand, P. and Patel, C. (2011), "Chapter 7 Implications and Directions for Future Research", Chand, P. and Patel, C. (Ed.) Achieving Global Convergence of Financial Reporting Standards: Implications from the South Pacific Region (Studies in Managerial and Financial Accounting, Vol. 22), Emerald Group Publishing Limited, Leeds, pp. 141-147. https://doi.org/10.1108/S1479-3512(2011)0000022011
Publisher
:Emerald Group Publishing Limited
Copyright © 2011, Emerald Group Publishing Limited