Listed Companies using National Accounting Standards
This paper explores sophisticated measures for assessing and comparing the success achieved in converging National Accounting Standards with internationally-prescribed sets of accounting standards (such as those comprising IFRS). The development of sophisticated measures of convergence is important for two principal reasons. First, not all countries have committed to adopting IFRS. For example, Iceland, Japan and Saudi Arabia are reported by the International Forum on Accountancy Development [IFAD] (2003) to have not yet expressed an intention to converge with IFRS. Some other countries (e.g. New Zealand) have opted to converge with IFRS over a longer time period (by 2007). Indeed, IFAD (2004) ...