Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia
There are three objectives of this study; first, to examine the level of compliance with the requirements of IFRS disclosure of Malaysian corporations; second, to identify which IFRS are problematic to comply with by the majority of Malaysian corporations; and, third, to understand why Malaysian cor...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Universiti Malaya
2012-12-01
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| Series: | Asian Journal of Accounting Perspectives |
| Subjects: | |
| Online Access: | https://10.240.4.186/index.php/AJAP/article/view/3674 |
| _version_ | 1819280281488588800 |
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| author | Mazni Abdullah Noor Adwa Sulaiman Kamisah Ismail Noor Sharoja Sapiei |
| author_facet | Mazni Abdullah Noor Adwa Sulaiman Kamisah Ismail Noor Sharoja Sapiei |
| author_sort | Mazni Abdullah |
| collection | DOAJ |
| description | There are three objectives of this study; first, to examine the level of compliance with the requirements of IFRS disclosure of Malaysian corporations; second, to identify which IFRS are problematic to comply with by the majority of Malaysian corporations; and, third, to understand why Malaysian corporations have difficulty in complying with the identified problematic IFRS. To achieve these objectives, we examine the annual reports of public listed companies and interview the accounting practitioners. Our results show that none of the examined companies fully complies with the requirements of IFRS disclosure. In addition, three IFRS are identified as problematic – accounting standards on impairment of assets, leases and employee benefits. Overall, this study demonstrates that the mere adoption of IFRS does not necessarily mean that the financial reports are transparent. |
| first_indexed | 2024-12-24T00:41:18Z |
| format | Article |
| id | doaj.art-2aa54ae90c9c4317924d0f1f6e801045 |
| institution | Directory Open Access Journal |
| issn | 2672-7293 0128-0384 |
| language | English |
| last_indexed | 2024-12-24T00:41:18Z |
| publishDate | 2012-12-01 |
| publisher | Universiti Malaya |
| record_format | Article |
| series | Asian Journal of Accounting Perspectives |
| spelling | doaj.art-2aa54ae90c9c4317924d0f1f6e8010452022-12-21T17:23:57ZengUniversiti MalayaAsian Journal of Accounting Perspectives2672-72930128-03842012-12-015110.22452/AJAP.vol5no1.2Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from MalaysiaMazni Abdullah0Noor Adwa Sulaiman1Kamisah Ismail2Noor Sharoja Sapiei3Faculty of Business and Accountancy, University of MalayaFaculty of Business and Accountancy, University of MalayaFaculty of Business and Accountancy, University of MalayaFaculty of Business and Accountancy, University of MalayaThere are three objectives of this study; first, to examine the level of compliance with the requirements of IFRS disclosure of Malaysian corporations; second, to identify which IFRS are problematic to comply with by the majority of Malaysian corporations; and, third, to understand why Malaysian corporations have difficulty in complying with the identified problematic IFRS. To achieve these objectives, we examine the annual reports of public listed companies and interview the accounting practitioners. Our results show that none of the examined companies fully complies with the requirements of IFRS disclosure. In addition, three IFRS are identified as problematic – accounting standards on impairment of assets, leases and employee benefits. Overall, this study demonstrates that the mere adoption of IFRS does not necessarily mean that the financial reports are transparent.https://10.240.4.186/index.php/AJAP/article/view/3674ComplianceIFRSDisclosureAnnual ReportsInterviews |
| spellingShingle | Mazni Abdullah Noor Adwa Sulaiman Kamisah Ismail Noor Sharoja Sapiei Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia Asian Journal of Accounting Perspectives Compliance IFRS Disclosure Annual Reports Interviews |
| title | Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia |
| title_full | Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia |
| title_fullStr | Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia |
| title_full_unstemmed | Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia |
| title_short | Compliance with International Financial Reporting Standards (IFRSs) in a Developing Country: Evidence from Malaysia |
| title_sort | compliance with international financial reporting standards ifrss in a developing country evidence from malaysia |
| topic | Compliance IFRS Disclosure Annual Reports Interviews |
| url | https://10.240.4.186/index.php/AJAP/article/view/3674 |
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