The relevance of International Financial Reporting Standards to a developing country: evidence from Kazakhstan


Tyrrall, David, Woodward, David and Rakhimbekova, Almagoul (2007) The relevance of International Financial Reporting Standards to a developing country: evidence from Kazakhstan. The International Journal of Accounting, 42, (1), 82-110. (doi:10.1016/j.intacc.2006.12.004).

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Description/Abstract

International Financial Reporting Standards (IFRS) were developed in advanced economies, but are increasingly being applied in emergent economies, potentially ignoring considerations of whether IFRS are appropriate or relevant to such economies. This case study examines the relevance and implementation of IFRS to the emerging economy of Kazakhstan from independence in 1991 to 2006. It concludes that although a strong case for IFRS relevance cannot be made, even by 2006, Kazakhstan had little choice but to proceed with IFRS, and that IFRS relevance is likely to increase as Kazakh economic development continues. Implementation of IFRS is proving problematic, but is taking place slowly. This, in turn, has implications for the theoretical status of the IFRS relevance argument and the pathways that nations might follow in implementing a national accounting system. If the only choice of accounting system is IFRS, then the IFRS relevance debate is effectively closed and the real issue is the pathway of change that nations might follow as they implement IFRS

Item Type: Article
Additional Information:
ISSNs: 0020-7063 (print)
Related URLs:
Keywords: kazakhstan, ifrs
Subjects: H Social Sciences > HT Communities. Classes. Races
H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: University Structure - Pre August 2011 > School of Management
ePrint ID: 45601
Date Deposited: 13 Apr 2007
Last Modified: 27 Mar 2014 18:29
URI: http://eprints.soton.ac.uk/id/eprint/45601

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