Title: Convergence to international financial reporting standards: the case of Turkey

Authors: Can Simga-Mugan, Nazli Hosal-Akman

Addresses: Faculty of Economic and Administrative Sciences, Department of Management, Middle East Technical University, Ankara 06531, Turkey. ' Faculty of Business Administration, Bilkent University, Bilkent, Ankara 06800, Turkey

Abstract: In this paper, we discuss the progress in the accounting standards in Turkey and provide some insight into the current accounting system as well as the recent regulatory developments following the convergence attempts to the global set of financial accounting standards that is currently referred to as the International Financial Reporting Standards/International Accounting Standards (IFRS/IAS) in Turkey. The paper emphasises variations from and similarities with the IFRS/IAS and lays out a brief history of global convergence activities. The paper concludes with a discussion of the effects of convergence on the financial reporting and accounting systems of domestic and multinational companies, and audit firms in Turkey.

Keywords: international financial reporting standards; IFRS; international accounting standards; IAS; Turkish accounting standards; convergence; Turkey; global accounting standards.

DOI: 10.1504/IJAAPE.2005.006895

International Journal of Accounting, Auditing and Performance Evaluation, 2005 Vol.2 No.1/2, pp.127 - 139

Published online: 20 Apr 2005 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article