Title: Perceptions of accounting quality in the new IFRS framework: an empirical study

Authors: Himanshu; Jatinder P. Singh

Addresses: Department of Management Studies, Indian Institute of Technology Roorkee, Roorkee, India ' Department of Management Studies, Indian Institute of Technology Roorkee, Roorkee, India

Abstract: The purpose of the paper is to evaluate various aspects of accounting quality in a fair value accounting context. The study was conducted in India, with India having recently adopted Ind-AS aligned with IFRS. A triangulation approach was adopted for the study. The data was collected through a questionnaire survey and semi-structured interviews during the period from August 2018 to March 2019. In total, 131 completed responses were analysed and the interviews with 15 experts were conducted. The results reveal that the value relevance constitutes the driving force propelling this paradigm shift. The effect of fair value accounting on accounting quality depends on managerial intentions. The results strongly emphasise the utility of various components of the annual report, in particular, the auditor's report, in evaluating accounting quality in the new environment. The study will provide invaluable feedback on new accounting standards to the accounting regulators and users of accounting information.

Keywords: accounting standards; IFRS; fair value; auditor's report; Ind-AS; accounting quality; reliability; relevance; India.

DOI: 10.1504/IJBEX.2022.122476

International Journal of Business Excellence, 2022 Vol.26 No.3, pp.342 - 369

Received: 07 Aug 2019
Accepted: 01 Nov 2019
Published online: 27 Apr 2022 *

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