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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), pp. 82-110. (doi:10.1016/j.intacc.2006.12.004).

Record type: Article


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

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Published date: 2007
Keywords: kazakhstan, ifrs


Local EPrints ID: 45601
ISSN: 0020-7063
PURE UUID: a32d2161-27d3-40cd-9571-0e550b341f0a

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Date deposited: 13 Apr 2007
Last modified: 17 Jul 2017 15:11

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Author: David Tyrrall
Author: David Woodward
Author: Almagoul Rakhimbekova

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