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Consequences of IFRS Adoption: A Myth or a Reality – Selected Cases of Adoption Effects

Consequences of IFRS Adoption: A Myth or a Reality – Selected Cases of Adoption Effects
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Author(s): Erick R. Outa (Strathmore University, Kenya)
Copyright: 2016
Pages: 19
Source title: Economics and Political Implications of International Financial Reporting Standards
Source Author(s)/Editor(s): Efobi Uchenna (Covenant University, Nigeria), Matthias Nnadi (Rivers State University of Science and Technology, Nigeria), Sailesh Tanna (Coventry University, UK)and Francis Iyoha (Covenant University, Nigeria)
DOI: 10.4018/978-1-4666-9876-5.ch003

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Abstract

The purpose of this chapter is to review the consequences of IFRS adoption by reviewing circumstances under which the benefits and costs accrue to firms, countries and the world. Notwithstanding, all issues raised about the consequences, IFRS adoption has had positive consequences and no wonder nearly 120 countries around the world and significant markets have adopted it. The chapter contributes to our understanding of the importance of IFRS and its effects and it is important to regulators and parties involved with world economic stability.

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