The results of this study will be insightful for several parties, including standard
authorities, regulatory bodies, entities, accounting professionals, and academicians.
Firstly, national and international standard authorities make plans to promote the
adoption of IFRS for SMEs. The findings about perception of financial statement
preparers’ on the advantages and disadvantages of the IFRS for SMEs will be
useful for them. The results of this study may be beneficial also for the standard
authorities of other emerging countries. The Turkish Standard Authority follows all
of the developments in international financial reporting for several reasons, and
especially for the EU candidate process. Although the EU has not introduced the
IFRS for SMEs as mandatory yet, Turkey has adopted it with the intentions of high
quality financial reporting. Other emerging countries’ standard authorities will face
similar problems in their adoption process. They can take into consideration the
findings of academic studies in similar countries to achieve a more effective
adoption process. Regulatory bodies are also one of the parties that may benefit from the findings of this study.