Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
7341434 | Advances in Accounting | 2008 | 8 Pages |
Abstract
In the quest for a single set of global accounting standards, the International Accounting Standard Board (IASB) continues to work with regulators in other countries toward adoption of IFRS. This study reports on an exploratory study of Bahrain's accounting and auditing professionals' perceptions about important issues relevant to developing and implementing global accounting standards. Bahrain is a financial hub of the Middle East with distinct features that could provide some insights to harmonization issues. The respondents' views portray optimism by auditors and non-auditors that harmonization of accounting standards is a worthwhile objective that can be fairly, but gradually accomplished. However, the survey data indicate expected challenges in applying the IFRS principles-based accounting standards. The survey findings suggest that there will be a growing demand for detailed application guidance for IFRS. Also, it appears that nationalism may well continue to be a major impediment to global adoption of IFRS.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Accounting
Authors
P.L. Joshi, Wayne G. Bremser, Jasim Al-Ajmi,