Meta-analysis of the challenges and obstacles to the implementation of international financial reporting standards

Subject Areas : Financial Economics

Seyed Mostafa Hasanzadeh Diva ¹ , Ghasem Blue ²

1 - Ph.D. Candidate, Department of Accounting, Faculty of Management and Accounting, Allameh Tabataba'i University, Tehran, Iran.
2 - Associate Prof, Department of Accounting, Faculty of Management andAccounting, Allameh Tabataba'i University, Tehran, Iran

Received: 2024-01-30 Accepted : 2024-05-25 Published : 2024-07-10

Keywords: international financial reporting standards, meta-analysis, globalization,

Abstract :

The remarkable progress of human societies in the current era in the scientific, industrial and economic fields and the irreplaceable role of financing activities in any progress and development have made the day-by-day development of accounting a basic need. It has been claimed for a long time that the accounting information contained in financial records is one of the most important sources of information for investors and other capital market participants. It is necessary that this information is relevant, reliable and transparent so that they can use it in making appropriate decisions. The experiences of other countries as well as numerous researches acknowledge that the use of international financial reporting standards improves the transparency of financial reporting. Considering the non-implementation of international financial reporting standards in Iran, despite the requirement from the stock exchange organization and the audit organization, this research conducted a meta-analysis on the obstacles to the implementation of international financial reporting standards, and the findings indicate that the lack of attention to environmental conditions and Economic, political consequences, cultural and social factors, laws and regulations, failure to protect the interests of all stakeholder groups, implementation cost, excessive use of fair value and strict IFRS regulations on information disclosure are the most important challenges and obstacles to the implementation of international financial reporting standards.

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