Griffith Dissertations

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Browsing Griffith Dissertations by Subject "Accounting Harmonization"

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    IFRS adoption process: Advantages and Disadvantages and Accounting Quality definition: Evidence from Mexico.
    (Griffith College, 2021) Orozco, Thalia
    The increase of economic globalisation has deemed it necessary to create one set of international accounting principles to promote global investment and capital markets worldwide through the adoption of the IFRS that has been the most relevant accounting transition in history in the last two decades. The IASB is the responsible body for developing and promoting the IFRS since 2001. As a result, different countries have adopted international principles and presented various benefits and drawbacks. It is related to the improvement of accounting quality by adopting the IFRS principles in financial information. However, there is terminological confusion due to the lack of a unified meaning. This research aims to analyse the advantages and disadvantages of adopting high-quality international standards for listed companies in Mexico and the concept of accounting quality among the experience and opinions of accounting professionals in the country. This study has the potential to provide recommendations for the first-time IFRS adoption process and advice for an improvement in the accounting quality in a company. Moreover, it will be discussing some highlights of why Mexico is not fully converged to IFRS. The methodology used for this study was interpretivism philosophy and induction approach getting the data with semi-structured interviews based on the opinions and ideas of seven accounting professional with experience on international principles in Mexican companies. Thematic analysis was used to codify and understand the findings of this investigation. The author got six themes to analyse based on Thematic Analysis: 1. Reasons for adopting IFRS in Mexican companies 2. Difficulties to adopt IFRS in Mexico 3. Advantages and Disadvantages of the IFRS adoption in Mexico 4. Recommendations for first time IFRS adoption 5. Is IFRS adoption suitable for unlisted companies? 6. Accounting Quality definition, evidence, and measures to improve it. The findings of this study present the difficulties, benefits and drawbacks of the IFRS adoption in listed companies in Mexico, and it is proposed a definition of accounting quality. Moreover, the participants provided advice for first-time IFRS adoption. It is deemed necessary to provide constant training to all accounting staff involved in the financial preparation and continuous supervision of critical accounting items and the financial reports to enhance accounting quality in a company. The understanding of this study could be beneficial for directors, managers, accountants, researchers or any company interested in an IFRS adoption or enhancing accounting quality based on the experience and knowledge of Mexican accounting professionals.
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