37 Pages Posted: 1 Jun 2006
Date Written: March 12, 2007
This study investigates whether IFRS (International Financial Reporting Standards) improves the usefulness of accounting information in a chosen code-law country (i.e. Finland) that has a strong system of legal enforcement and high quality domestic accounting standards. Empirical analyses based on three surveys, run by financial analysts, managers and auditors, support the hypothesis that new information provided by IFRS is relevant. Even though the results show that managers and auditors deem information prepared under many IFRS/IAS-standards reliable, the results show that they are, overall, neutral towards the reliability of information prepared by using judgment under IFRS.
Keywords: International Financial Reporting Standards, usefulness, relevance, reliability, survey
JEL Classification: M41, M44, M47, G18, G15
Suggested Citation: Suggested Citation
Lantto, Anna-Maija, Does Ifrs Improve the Usefulness of Accounting Information in a Code-Law Country? (March 12, 2007). Available at SSRN: https://ssrn.com/abstract=905218 or http://dx.doi.org/10.2139/ssrn.905218
By Ray Ball