An empirical evaluation of financial reporting quality of the Indian GAAP and Indian accounting standards
by Faozi A. Almaqtari; Najib H. Farhan; Eissa A. Al-Homaidi; Nandita Mishra
International Journal of Accounting, Auditing and Performance Evaluation (IJAAPE), Vol. 16, No. 2/3, 2020

Abstract: The present study investigates financial reporting quality (FRQ) of Indian GAAP and Ind. AS. The study uses data of 450 companies listed on the Bombay Stock Exchange (BSE) over the period from 2011 up to 2016. This study is motivated by adoption of Ind. AS by listed companies that have net worth of 500 crores or more, which implemented in 2016. It examines FRQ pre- and post-conversion to Ind. AS. Descriptive statistics, correlation, and regression models are used to estimate the results. Further, paired sample t-test of residual values of regression models is used to evaluate FRQ of Indian GAAP and Ind. AS. The results indicate a significant difference of FRQ between Indian GAAP and Ind. AS. The findings reveal that adoption of Ind. AS has improved FRQ of financial statements. The study contributes to Ind. AS literature by establishing empirical evidence of FRQ of accounting standards, which has not been provided and investigated by prior studies.

Online publication date: Mon, 01-Feb-2021

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