Relevance of international financial reporting standards to emerging markets : evidence from Saudi Arabia

الملخص EN

The primary purpose of this study is to examine the relevance of IFRS in an emerging market (Saudi Arabia) and to explore advantages, disadvantages, and obstacles.

Because this study follows an inductive approach, 10 semi-structured interviews were undertaken in order to uncover any relevant issues and, to supplement the findings, a questionnaire survey was distributed among three groups of respondents, namely, accounting academics, financial managers, and external auditors.

The findings show that most participants were in favour of the immediate convergence with IFRS, as they would serve the needs of both the accounting profession and users of financial reporting in Saudi Arabia better than the current accounting standards.

These findings could be helpful for Saudi regulators in their attempts to develop accounting principles and policies applicable to all Saudi entities in accordance with global standards.