Dr. David Campbell, department head and professor of accounting, Dr. George Tsakumis, assistant professor of accounting, and Timothy Doupnik, had the paper “IFRS: Beyond the Standards” published in the Journal of Accountancy, February 2009, pp 34-39.
The professors compared and contrasted reporting from firms around the globe, noting how differences reflect cultures, as well as the challenges presented in translating the standards from English to other languages.
“Research suggests that cultural differences cause accountants in different countries to interpret and apply accounting standards differently,” they write. “This research reveals that two accounting values directly influenced by national culture are conservatism and secrecy, which affect the measurement and disclosure of financial information in financial reports and have the greatest potential to affect cross-border financial statement comparability”
“Currently, more than 100 countries have adopted IFRS, and a number of other economically important countries, including Japan and the United States, have programs in place to converge their national standards with IFRS.”