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The purpose of the study is to present evidence on the International Financial Reporting Standards (IFRS) adoption and earnings quality relationship on an emerging country context focusing on firm characteristics.

To measure loss avoidance, the earnings distribution approach is followed. Data includes all the nonfinancial firms listed on the Borsa İstanbul (BIST) for the period covering 1998–2010. The sample is divided into subsegments according to size and leverage, considering the potential impact of different financial reporting incentives. Furthermore, mandatory and voluntary adopters are examined separately.

The results indicate lower loss aversion in the post-IFRS period. Furthermore, we found that incentives dominate accounting standards in determining financial reporting quality. The decrease in loss aversion after IFRS adoption is more significant for large firms compared to small firms, low leverage firms compared to high leverage firms, and for mandatory IFRS adopter firms compared to voluntary IFRS adopters.

Research provides inconsistent evidence on the relationship between IFRS adoption and earnings quality. Turkey represents an interesting environment to test the impact of IFRS adoption, as the Turkish accounting system has followed a historical path from a Continental European accounting system to an Anglo-Saxon accounting system. The current Turkish accounting system exhibits features of both these systems. Additionally, IFRS adoption was optional in 2003 and mandatory in 2005 in line with EU regulations, and the changes in the reporting environment are supported by the regulatory developments and institutional changes in Turkey.

The objective of this study aims at reviewing a synthesis of the economic impact of the implementation of International Financial Reporting Standards (IFRS) in an attempt to provide directions for future research. There are significant evidences of adopting a high-quality set of harmonised accounting standards (i.e. IFRS) fosters trade and foreign direct investment (FDI), financial transparency, and comparability and reduces information asymmetries. From the extensive structured review of literature using the Scopus database tool, the study reviewed 108 articles, and in particular, the topic-related 41 articles were analysed. Seven journals contribute to 39% of the articles (The Accounting Review; European Accounting Review; International Journal of Accounting; Journal of Accounting Research; Revista Espanola de Financiacion y Contabilidad; Asian Review of Accounting; and International Journal of Economics and Management). However, most of the cited journals were Journal of Accounting Research, The Accounting Review, European Accounting Review, and International Journal of Accounting (Armstrong, Barth, Jagolinzer, & Riedl, 2010; Brüggemann, Hitz, & Sellhorn, 2013; Christensen, Lee, & Walker, 2007; Daske, Hail, Leuz, & Verdi, 2008, 2013). Most of the studies did not use any theory, and most of the articles utilised quantitative approach. The study calls for future research on the theoretical impactions on the economic impact of IFRS implementation in a country-specific study, cross-country study, and global study. Future studies should also focus on the policymaking agenda for the local and international standard setters.

The study critically evaluates the theory of International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Using the extensive structured review of literature using the Scopus database tool, the study reviewed 79 articles, and in particular the topic-related 57 articles were analysed. Nine journals contribute to 51% of articles (29 of 57 articles). In particular, the three journals published 15 articles: Critical Perspectives on Accounting (7), Accounting, Organizations and Society (4), and Journal of Applied Accounting Research (4). In total, 83% (47 of 57) of the articles were published 2009–2018. A total of 1,168 citations were found from 45 articles since 12 articles were without citations. The highest cited authors were Ball (2006) – 410 citations, Kothari, Ramanna, and Skinner (2010) – 135 citations, and Napier (1989) – 85 citations. In particular, five theories have been used widely: institutional theory (13), accounting theory (6), agency theory (3), positive accounting theory (3), and process theory (2). Future studies’ focus could be on theory implications in IFRS adoption/implementation studies in a country or a group of countries’ experience. Future studies could also focus on various theories rather depending on a single theory (i.e. institutional theory).

The study aims at reviewing a synthesis of disclosure, transparency, and International Financial Reporting Standards (IFRS) implementation in an attempt to provide directions for future research. Prior research overwhelmingly supports that the IFRS adoption or effective implementation of IFRS will enhance high-quality financial reporting, transparency, enhance the country’s investment environment, and foreign direct investment (FDI) (Dayanandan, Donker, Ivanof, & Karahan, 2016; Gláserová, 2013; Muniandy & Ali, 2012). However, some researchers provide conflicting evidence that developing countries implementing IFRS are probably not going to encounter higher FDI inflows (Gheorghe, 2009; Lasmin, 2012). It has also been argued that the IFRS adoption decreases the management earnings in countries with high levels of financial disclosure. In general, the study indicates that the adoption of IFRS has improved the financial reporting quality. The common law countries have strong rules to protect investors, strict legal enforcement, and high levels of transparency of financial information. From the extensive structured review of literature using the Scopus database tool, the study reviewed 105 articles, and in particular, the topic-related 94 articles were analysed. All 94 articles were retrieved from a range of 59 journals. Most of the articles (77 of 94) were published 2010–2018. The top five journals based on the citations are Journal of Accounting Research (187 citations), Abacus (125 citations), European Accounting Review (107 citations), Journal of Accounting and Economics (78 citations), and Accounting and Business Research (66 citations). The most-cited authors are Daske, Hail, Leuz, and Verdi (2013); Daske and Gebhardt (2006); and Brüggemann, Hitz, and Sellhorn (2013). Surprisingly, 65 of 94 articles did not utilise the theory. In particular, four theories have been used frequently: agency theory (15), economic theory (5), signalling theory (2), and accounting theory (2). The study calls for future research on the theoretical implications and policy-related research on disclosure and transparency which may inform the local and international standard setters.

The study endeavours to bring out a critical synthesis of the effect of quality of financial reporting in the BRICS (Brazil, Russia, India, China, and South Africa) countries pertaining to the International Financial Reporting Standards (IFRS) adoption. BRICS is the group composed by the five major emerging countries, which together represent about 42% of the population, 23% of gross domestic product (GDP), 30% of the territory, and 18% of the global trade. The study synthesised 57 quantitative, qualitative, and theoretical studies between the period 2005 and 2020. The findings reflect that the BRICS countries are far way behind with the qualitative and quantitative outcomes on IFRS adoption, which may be on a voluntary basis or mandatory basis. However, there are mixed revelation based on the implications of the domestic convergence of standards with IFRS, which demonstrate that 15 papers’ results revealed a negative impact.

This study aims at establishing a linkage between IFRS adoption and environmental pollution in Africa. More so, the role of institution was emphasized as a possible ameliorator of environmental pollution in the face of IFRS adoption.

The empirical model builds on the traditional EKC hypothesis, by including IFRS adoption variable and an interaction term (which captures the multiplicative between IFRS adoption and institutions). Data was gathered for 47 African countries for the period 2001–2013. The SGMM technique was used in the estimation process.

The robust estimation reveals that a positive and significant linkage exist between IFRS adoption and environmental pollution. The interactive variable also shows that the effect of IFRS on the environment will reduce when institutions quality (in the form of bureaucratic corruption) is addressed.

The linkage between IFRS and the environment has not received empirical attention. This is partly due to the fact that accounting phenomenon is rarely linked to macroeconomic outcomes. However, there is a rising interest in the role of accounting institutions on economic outcomes and this study contributes sufficiently to this budding body of knowledge.

Over the last decade, the accounting convergence process with the development and adoption of IFRS as national standards has become the focus of governments, professionals, and researchers. In 2005, the EU (including Germany) and Australia adopted IFRS. A survey by Deloitte Touche Tohmatsu (2010) reported that 89 countries have adopted or intend to adopt IFRS for all their domestic listed companies. Currently, more than 100 jurisdictions require or permit the use of IFRS, with countries such as Canada, Brazil, and Argentina being the most recent adopters (IFRS Foundation, 2011b). This growing number of countries implementing IFRS and their experiences and emerging challenges have further raised researchers' interest in this controversial topic (Ashbaugh & Pincus, 2001; Atwood et al., 2011; Byard et al., 2011; Christensen et al., 2007; Daske et al., 2008; Ding et al., 2007; Hail et al., 2010a, 2010b; Kvaal & Nobes, 2010; McAnally et al., 2010; Mechelli, 2009; Niskanen, Kinnunen, & Kasanen, 2000; Stolowy, Haller, & Klockhaus, 2001; Tyrrall et al., 2007). However, these studies have concentrated on the development and application of specific accounting standards and practices and/or cross-national and cross-cultural issues concerning adaptation, implementation, and evaluation of IFRS. Moreover, an increasing number of studies have been devoted to classifications of accounting models and categorization of accounting standards, principles, and values (Chanchani & Willett, 2004; D'Arcy, 2000, 2001; Doupnik & Richter, 2004; Doupnik & Salter, 1993; Gray, 1988; Kamla, Gallhofer, & Haslam, 2006; Nair & Frank, 1980; Patel, 2003, 2007; Perera & Mathews, 1990; Salter & Doupnik, 1992). However, very few studies have critically examined the historical development of accounting practices and issues related to convergence in its socioeconomic context and, importantly, we are not aware of any study that has rigorously examined the institutionalization of Anglo-American accounting practices as international practice with an emphasis on power and legitimacy in the move toward convergence of accounting standards.

The purpose of this study is to review a synthesis of International Financial Reporting Standards (IFRS) implementation in developing countries in an attempt to provide directions for future research. The in-depth analysis was performed with the use of the data analysis tool available in the Scopus databases. The study initially reviewed 145 papers and in particular 35 papers were analysed. Fifteen articles (43%) were published in seven journals including International Journal of Accounting, Critical Perspectives on Accounting, Advances in Accounting, International Journal of Accounting and Information Management, Asian Review of Accounting, Journal of Applied Accounting Research, and Asian Journal of Business and Accounting. Specifically, 89% citations were from 14 articles, but 9 (25%) articles were without any citations. Most of the studies focus on qualitative followed by quantitative, and very few studies were based on mixed methods. Researchers should focus on few areas for future research on IFRS implementation in developing countries including theory implications, policy prescriptions, and case of particular standard.

The purpose of this study is to empirically examine the influence of International Financial Reporting Standards (IFRS) adoption by Russian public companies on the value relevance of financial reporting in Russia.

We selected 67 Russian public companies that reported both under Russian Accounting Standards (RAS) and IFRS for four consecutive years (2006–2009).

The main limitation of the chapter is the sample, but this can be explained by the fact that only 67 companies in Russia report under the two standards (RAS and IFRS). So the sample could not be increased as there were no other companies that fulfilled the characteristics of the sample.

The results obtained show that on the Russian market there is no evidence of increased value relevance of financial reporting to external users of financial information after adopting IFRS when comparing and evaluating the two regimes (RAS and IFRS) unconditionally. Such results can be explained by the notion of mock compliance which originated due to the institutional differences between the RAS and IFRS development environments.

Adoption of IFRS by companies in emerging markets has been a subject of interest for lots of researchers, but this is the first research of its kind in the field of value relevance of adoption of IFRS on the Russian market.

Purpose – The purpose of this study is to empirically examine the extent of adoption of International Financial Reporting Standards (IFRS) within three major South Asian countries – India, Pakistan and Bangladesh.

Design/methodology/approach – We selected 566 non-financial listed companies for the financial year 1997–1998. Fifty-two measurement practices and 72 disclosure practices were drawn from 15 commonly adopted IFRS.

Findings – We find that the overall level of adoption of IFRS regarding measurement and disclosure practices is higher in Pakistan compared with India and Bangladesh. We also find that the adoption level is high for inventories, income statement for the period, research and development costs, retirement benefit costs, foreign currency translations, business combination and accounting for investment in associates, whereas the adoption level is low in the areas of cash flow statements, taxes on income, property, plant and equipment, accounting for leases, accounting for government grants, borrowing costs and consolidated financial statements.

Originality/value – Adoption of IFRS issued by the International Accounting Standards Board (IASB) by listed companies has been a subject of immense interest among accounting standard setters, practitioners and academics throughout the world. South Asian countries have adopted IFRS, either fully or with minor modifications, with a view to improving the quality of financial reporting. This article is one of few that examines this important issue and concludes with some suggestions for improving the adoption levels within South Asia.