The adoption of 'International Accounting Standard (IAS) 12 Income Taxes': Convergence or divergence with local accounting standards in selected ASEAN countries?

Prem W S Yapa, Diane Lynette Kraal, Mahesh Joshi

Research output: Contribution to journalArticleResearchpeer-review

Abstract

This article concerns inter-disciplinary research on questions about the socio-economic impact of the adoption and convergence of International Financial Reporting Standards (IFRS) with local standards in selected countries. The article approaches the research in two stages. The first stage concerns the findings and analysis relating to the general impact of the IFRS standards on Singapore and Malaysia. Findings reveal that respondents expressed reservations about cited IFRS adoption benefits, including increases of foreign investment and equity cost reductions; and stakeholder confidence has been eroded by the complex harmonising of principles-based fair value requirements. Debate continues on the application of IFRS regarding standards on financial instruments, real estate and agriculture. Our qualitative research methodology of survey uses institutional theory and stakeholder theory for analysis.
Original languageEnglish
Pages (from-to)3 - 24
Number of pages22
JournalAustralasian Accounting Business and Finance Journal
Volume9
Issue number1
DOIs
Publication statusPublished - 2015

Cite this

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title = "The adoption of 'International Accounting Standard (IAS) 12 Income Taxes': Convergence or divergence with local accounting standards in selected ASEAN countries?",
abstract = "This article concerns inter-disciplinary research on questions about the socio-economic impact of the adoption and convergence of International Financial Reporting Standards (IFRS) with local standards in selected countries. The article approaches the research in two stages. The first stage concerns the findings and analysis relating to the general impact of the IFRS standards on Singapore and Malaysia. Findings reveal that respondents expressed reservations about cited IFRS adoption benefits, including increases of foreign investment and equity cost reductions; and stakeholder confidence has been eroded by the complex harmonising of principles-based fair value requirements. Debate continues on the application of IFRS regarding standards on financial instruments, real estate and agriculture. Our qualitative research methodology of survey uses institutional theory and stakeholder theory for analysis.",
author = "Yapa, {Prem W S} and Kraal, {Diane Lynette} and Mahesh Joshi",
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N2 - This article concerns inter-disciplinary research on questions about the socio-economic impact of the adoption and convergence of International Financial Reporting Standards (IFRS) with local standards in selected countries. The article approaches the research in two stages. The first stage concerns the findings and analysis relating to the general impact of the IFRS standards on Singapore and Malaysia. Findings reveal that respondents expressed reservations about cited IFRS adoption benefits, including increases of foreign investment and equity cost reductions; and stakeholder confidence has been eroded by the complex harmonising of principles-based fair value requirements. Debate continues on the application of IFRS regarding standards on financial instruments, real estate and agriculture. Our qualitative research methodology of survey uses institutional theory and stakeholder theory for analysis.

AB - This article concerns inter-disciplinary research on questions about the socio-economic impact of the adoption and convergence of International Financial Reporting Standards (IFRS) with local standards in selected countries. The article approaches the research in two stages. The first stage concerns the findings and analysis relating to the general impact of the IFRS standards on Singapore and Malaysia. Findings reveal that respondents expressed reservations about cited IFRS adoption benefits, including increases of foreign investment and equity cost reductions; and stakeholder confidence has been eroded by the complex harmonising of principles-based fair value requirements. Debate continues on the application of IFRS regarding standards on financial instruments, real estate and agriculture. Our qualitative research methodology of survey uses institutional theory and stakeholder theory for analysis.

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