1. Introduction
This article concerns one stage of a two-stage qualitative study of the socio-economic
impacts of the convergence of International Financial Reporting Standards (IFRS) with local
accounting standards on companies in selected Association of South East Asian Nations
(ASEAN). The purpose of this article is two-fold. Its first purpose is to present the
methodology, findings, analysis and conclusions from the Stage one research, regarding the
socio-economic impacts of the convergence of IFRS with local accounting standards on the
ASEAN countries of Singapore and Malaysia.
Accounting standards are one starting point for tax compliance and income taxes form
part of financial statements, including tax-related note disclosures. Thus, the second purpose
is the positing of a future research plan for a specific accounting standard, International
Accounting Standard (IAS) 12: Income Taxes and the extent of its convergence and/or
divergence from the aims of the International Accounting Standards Board (IASB) for
equivalent accounting standards in selected ASEAN countries and Australia. Stage two of the
research project (and related preliminary interview findings) is positioned at end of this
article, which follows the Stage one findings and conclusion. IAS 12 has been selected based
on feedback from respondents in Stage one.
ASEAN countries4
are being assisted by major development financing institutions,
including the World Bank and the Asian Development Bank, mainly due to the development
of global capital markets, the growth of multi-national enterprises and the Asian financial
crisis in the mid-1990s (Briston 1990, 195-216). As investors and creditors require up-to-date
financial statements and reports, the professional accounting practices of ASEAN countries
are being increasingly scrutinised. ASEAN countries are thus under pressure to adopt a
uniform set of accounting standards. Convergence of local accounting standards with IFRS is
now one of the rising concerns among stakeholders with interests in ASEAN countries (Yapa
2012).
In June 2011 a forum was held in Bali, Indonesia with the theme of, ‘Towards One
Global Standard: the challenges and opportunities of IFRS adoption in Asia-Oceania
Region’.5
Delegates from sixteen countries attended the forum to deliver papers and debate
issues relating to adoption of IFRS. The presentations and panel discussions highlighted the
importance of benchmarking, collegial work among standard setters with other regulatory
bodies (including taxing authorities); and professionals to support for IFRS
convergence/compliance in the region. Discussions covered the need for tax preparers to
understand any differences between the Generally Accepted Accounting Principles (GAAP)
and IFRS reporting methods. Thus, along with retraining financial accountants in a new
accounting method, organisations will need to ensure other internal preparers, such as tax
accountants, understand the different methods.
Access to global capital is problematic without the existence of an institutionalised set
of accounting practices. Since 2005 most listed companies located in the European Union,
Australia, and New Zealand have prepared their consolidated financial statements in
accordance with IFRS (Ali 2005). According to the International Accounting Standards
Board (IASB), about 150 countries have adopted IFRS. The year 2012 was when many
countries in the Asian region had to formally adopt IFRS, and their regulators and accounting
standard setters will face the real challenges (as opposed to theoretical ones) of adoption. The
aim of harmonisation of local standards with IFRS is to reduce differences in accounting
practices among countries (Bailey and Wild 1998; Banerjee et al. 1998; Burns 2000).
1. บทนำบทความนี้เกี่ยวข้องกับขั้นตอนหนึ่งของการศึกษาเชิงคุณภาพสองของสังคมเศรษฐกิจผลกระทบของการบรรจบกันของนานาชาติทางการเงินรายงานมาตรฐาน (IFRS) กับท้องถิ่นมาตรฐานการบัญชีในประเทศเลือกสมาคมของใต้เอเชียตะวันออกประเทศ(อาเซียน) วัตถุประสงค์ของบทความนี้คือสองพับ วัตถุประสงค์แรกคือเพื่อ นำเสนอวิธี ค้นพบ การวิเคราะห์ และข้อสรุปจากเวทีหนึ่งงานวิจัย เกี่ยวกับการผลกระทบทางเศรษฐกิจสังคมของการบรรจบกันของ IFRS กับมาตรฐานการบัญชีท้องถิ่นในการประเทศสิงคโปร์และมาเลเซียมาตรฐานการบัญชีมีจุดเริ่มต้นหนึ่งในแบบฟอร์มการปฏิบัติตามกฎระเบียบและภาษีรายได้ภาษีส่วนหนึ่งของงบการเงิน รวมถึงการเปิดเผยข้อมูลในหมายเหตุที่เกี่ยวข้องกับภาษี ดังนั้น วัตถุประสงค์ที่สองเป็น positing ของแผนการวิจัยในอนาคตสำหรับมาตรฐานบัญชีเฉพาะ นานาชาติบัญชีมาตรฐาน (IAS) 12: ภาษีเงินได้และขอบเขตของการลู่เข้า และ/หรือdivergence จากจุดมุ่งหมายของการนานาชาติบัญชีมาตรฐาน Board (IASB) สำหรับมาตรฐานบัญชีเทียบเท่าเลือกประเทศอาเซียนและออสเตรเลีย ระยะที่สองของการโครงการวิจัย (และพบสัมภาษณ์เบื้องต้นที่เกี่ยวข้อง) อยู่ในตำแหน่งที่สิ้นสุดนี้บทความ ซึ่งตามผลการวิจัยระยะที่หนึ่งและสรุป IAS 12 มีการเลือกใช้คำติชมจากผู้ตอบในระยะหนึ่งCountries4 อาเซียน มีการช่วยสถาบันการเงินพัฒนาหลักincluding the World Bank and the Asian Development Bank, mainly due to the developmentof global capital markets, the growth of multi-national enterprises and the Asian financialcrisis in the mid-1990s (Briston 1990, 195-216). As investors and creditors require up-to-datefinancial statements and reports, the professional accounting practices of ASEAN countriesare being increasingly scrutinised. ASEAN countries are thus under pressure to adopt auniform set of accounting standards. Convergence of local accounting standards with IFRS isnow one of the rising concerns among stakeholders with interests in ASEAN countries (Yapa2012).In June 2011 a forum was held in Bali, Indonesia with the theme of, ‘Towards OneGlobal Standard: the challenges and opportunities of IFRS adoption in Asia-OceaniaRegion’.5 Delegates from sixteen countries attended the forum to deliver papers and debateissues relating to adoption of IFRS. The presentations and panel discussions highlighted theimportance of benchmarking, collegial work among standard setters with other regulatorybodies (including taxing authorities); and professionals to support for IFRSconvergence/compliance in the region. Discussions covered the need for tax preparers tounderstand any differences between the Generally Accepted Accounting Principles (GAAP)and IFRS reporting methods. Thus, along with retraining financial accountants in a newaccounting method, organisations will need to ensure other internal preparers, such as taxaccountants, understand the different methods.Access to global capital is problematic without the existence of an institutionalised setof accounting practices. Since 2005 most listed companies located in the European Union,Australia, and New Zealand have prepared their consolidated financial statements inaccordance with IFRS (Ali 2005). According to the International Accounting StandardsBoard (IASB), about 150 countries have adopted IFRS. The year 2012 was when manycountries in the Asian region had to formally adopt IFRS, and their regulators and accountingstandard setters will face the real challenges (as opposed to theoretical ones) of adoption. Theaim of harmonisation of local standards with IFRS is to reduce differences in accountingpractices among countries (Bailey and Wild 1998; Banerjee et al. 1998; Burns 2000).
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