Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran

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MORADI MOHAMMAD; Jafari Daredor Morteza; HOSSEINZADEH SOHRAB

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Journal: THE IRANIAN ACCOUNTING AND AUDITING REVIEW Year:2019 | Volume:26 | Issue:3 Page(s): 456-481

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Title

Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran

Author(s)

MORADI MOHAMMAD | Jafari Daredor Morteza | HOSSEINZADEH SOHRAB | Issue Writer Certificate

Keywords

Fair valueQ1

International financial reporting standardsQ1

Thematic analysisQ1

Abstract

Objective The Board of the Securities and Exchange Organization has required some public firms to prepare financial statements in accordance with International financial reporting standards (IFRS), based on the approval of the Auditing Organization since the beginning of 2016. Despite high quality of above mentioned standards, studies show that the quality of accounting standards is influenced by the political, cultural and economic environment of countries. On the other hand, Fair value measurement and disclosure is actually the main difference between Iranian National Standards and International financial reporting standards (IFRS). Based on mentioned issues, the main purpose of this study is to determine the challenges and opportunities of measuring Fair values in International financial reporting standards (IFRS) adoption in Iran. Methods Based on research purposeand theoretical saturation, interviews have been held with 14 experts from the Stock Exchange, the auditors, the licensed experts, the CPAs and the Professors, in accordance with the typology of challenges and opportunities. These interviews were analyzed based on Thematic analysis. Results Research findings indicate that the economic environment, education, measurement inputs, Fair value audits and resistance are main challenges of IFRS adoption, and the accuracy of accounting information, transparency and consistency are opportunities of IFRS adoption. Conclusion In International financial reporting standardsadoption, besides the importance of economic environment, behavioral factors and Fair value measurement, training of accountant, and auditor is also vital. Measuring and reporting Fair values also enhance the accuracy, transparency and comparability and overall usefulness of accounting information.

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APA: Copy

MORADI, MOHAMMAD, Jafari Daredor, Morteza, & HOSSEINZADEH, SOHRAB. (2019). Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran. THE IRANIAN ACCOUNTING AND AUDITING REVIEW, 26(3 ), 456-481. SID. https://sid.ir/paper/8044/en

Vancouver: Copy

MORADI MOHAMMAD, Jafari Daredor Morteza, HOSSEINZADEH SOHRAB. Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran. THE IRANIAN ACCOUNTING AND AUDITING REVIEW[Internet]. 2019;26(3 ):456-481. Available from: https://sid.ir/paper/8044/en

IEEE: Copy

MOHAMMAD MORADI, Morteza Jafari Daredor, and SOHRAB HOSSEINZADEH, “Challenges and Opportunities for Measuring Fair Value, in International Financial Reporting Standards Adoption in Iran,” THE IRANIAN ACCOUNTING AND AUDITING REVIEW, vol. 26, no. 3 , pp. 456–481, 2019, [Online]. Available: https://sid.ir/paper/8044/en

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