The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]

This paper examines whether the application of International Financial Reporting Standards (IFRS) is associated with higher accounting quality in Canada. By using a sample of domiciled and listed companies in the Canadian markets, the change in accounting quality is assessed under two measurement ex...

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Fecha de publicación:: 2017

Institución:: Universidad de Medellín

Repositorio:: Repositorio UDEM

Idioma:: spa

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network_acronym_str	REPOUDEM2
network_name_str	Repositorio UDEM
repository_id_str
dc.title.spa.fl_str_mv	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
title	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
spellingShingle	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense] Accounting conservatism; Accounting quality; Adoption IFRS; Value relevance
title_short	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
title_full	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
title_fullStr	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
title_full_unstemmed	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
title_sort	The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]
dc.contributor.affiliation.spa.fl_str_mv	Universitaria de Envigado - IUE, Envigado, Colombia; Universidad de Medellín, Medellín, Colombia
dc.subject.keyword.eng.fl_str_mv	Accounting conservatism; Accounting quality; Adoption IFRS; Value relevance
topic	Accounting conservatism; Accounting quality; Adoption IFRS; Value relevance
description	This paper examines whether the application of International Financial Reporting Standards (IFRS) is associated with higher accounting quality in Canada. By using a sample of domiciled and listed companies in the Canadian markets, the change in accounting quality is assessed under two measurement expressions: the value relevance and the level of accounting conservatism. The findings suggest that the accounting information, generated under IFRS, is associated with greater usefulness by market agents; Additionality, the negative returns are incorporated with greater timely in the earnings, regarding to the positive returns. Both results are associated with higher accounting quality. © 2017.
publishDate	2017
dc.date.created.none.fl_str_mv	2017
dc.date.accessioned.none.fl_str_mv	2018-04-13T16:33:13Z
dc.date.available.none.fl_str_mv	2018-04-13T16:33:13Z
dc.type.eng.fl_str_mv	Article
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dc.identifier.issn.none.fl_str_mv	7981015
dc.identifier.uri.none.fl_str_mv	http://hdl.handle.net/11407/4549
identifier_str_mv	7981015
url	http://hdl.handle.net/11407/4549
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dc.relation.ispartofes.spa.fl_str_mv	Espacios
dc.relation.references.spa.fl_str_mv	Ahmed, A.S., Neel, M., Wang, D., Does mandatory adoption of IFRS improve accounting quality? preliminary evidence (2013) Contemporary Accounting Research, 30 (4), pp. 1344-1372; Ali, A., Hwang, L., Country-specific factors related to financial reporting and the value relevance of accounting data (2000) Journal of Accounting Research, 38 (1), pp. 1-21; Aubert, F., Grudnitski, G., The impact and importance of mandatory adoption of international financial reporting standards in Europe (2011) Journal of International Financial Management & Accounting, 22 (1), pp. 1-26; Ball, R., Kothari, S., Robin, A., The effect of international institutional factors on properties of accounting earnings (2000) Journal of Accounting and Economics, 29 (1), pp. 1-51; Ball, R., Robin, A., Wu, J.S., Incentives versus standards: Properties of accounting income in four East Asian countries (2003) Journal of Accounting and Economics, 36 (1), pp. 235-270; Barth, M.E., Landsman, W.R., Lang, M.H., International accounting standards and accounting quality (2008) Journal of Accounting Research, 46 (3), pp. 467-498; Barth, M.E., Landsman, W., Lang, M., Williams, C., (2006) Accounting quality: International accounting standards and US GAAP, , Manuscript, Stanford University; Bartov, E., Goldberg, S.R., Kim, M., Comparative value relevance among german, US, and international accounting standards: A german stock market perspective (2005) Journal of Accounting, Auditing & Finance, 20 (2), pp. 95-119; Basu, S., The conservatism principle and the asymmetric timeliness of earnings 1 (1997) Journal of Accounting and Economics, 24 (1), pp. 3-37; Christensen, H.B., Lee, E., Walker, M., Zeng, C., Incentives or standards: What determines accounting quality changes around IFRS adoption? (2015) European Accounting Review, 24 (1), pp. 31-61; Chua, Y.L., Cheong, C.S., Gould, G., The impact of mandatory IFRS adoption on accounting quality: Evidence from Australia (2012) Journal of International Accounting Research, 11 (1), pp. 119-146; Devalle, A., Onali, E., Magarini, R., Assessing the value relevance of accounting data after the introduction of IFRS in Europe (2010) Journal of International Financial Management & Accounting, 21 (2), pp. 85-119; Dimitropoulos, P.E., Asteriou, D., Kousenidis, D., Leventis, S., The impact of IFRS on accounting quality: Evidence from Greece (2013) Advances in Accounting, 29 (1), pp. 108-123; Günther, N., Gegenfurtner, B., Kaserer, C., Achleitner, A., International financial reporting standards and earnings quality: The myth of voluntary vs. mandatory adoption (2009), CEFS Working Paper No. 2009-09; Healy, P.M., Wahlen, J.M., A review of the earnings management literature and its implications for standard setting (1999) Accounting Horizons, 13 (4), pp. 365-383; HellstrOm, K., The value relevance of financial accounting information in a transition economy: The case of the Czech Republic (2006) European Accounting Review, 15 (3), pp. 325-349; Hung, M., Subramanyam, K.R., Financial statement effects of adopting international accounting standards: The case of Germany (2007) Review of Accounting Studies, 12 (4), pp. 623-657; Iatridis, G., (2008) Implementation of international financial reporting standards and the quality of financial statement information; an investigation of earnings management and value relevance, , University of Thessaly. doi: 10.1.1.496.9261; Iatridis, G., International financial reporting standards and the quality of financial statement information (2010) International Review of Financial Analysis, 19 (3), pp. 193-204; Iatridis, G., Rouvolis, S., The post-adoption effects of the implementation of international financial reporting standards in Greece (2010) Journal of International Accounting, Auditing and Taxation, 19 (1), pp. 55-65; (2004) Review of the constitution, proposals for change International Accounting Standards Committee Foundation; Jara, M., Arias, J.T., The effect of mandatory IFRS adoption on accounting conservatism of reported earnings: Evidence from Chilean firms (2013) Academia Revista Latinoamericana de Administración, 26 (1), pp. 139-169; Jones, J.J., Earnings management during import relief investigations (1991) Journal of Accounting Research, 29 (2), pp. 193-228; Lang, M., Raedy, J.S., Wilson, W., Earnings management and cross listing: Are reconciled earnings comparable to US earnings? (2006) Journal of Accounting and Economics, 42 (1), pp. 255-283; Lang, M., Raedy, J.S., Yetman, M.H., How representative are firms that are crosslisted in the United States? An analysis of accounting quality (2003) Journal of Accounting Research, 41 (2), pp. 363-386; La Porta, R., Lopez DeSilanes, F., Shleifer, A., Vishny, R.M., Legal determinants of external finance (1997) Journal of Finance, 52 (3), pp. 1131-1150; Lin, S., Riccardi, W., Wang, C., Does accounting quality change following a switch from US GAAP to IFRS? Evidence from Germany (2012) Journal of Accounting and Public Policy, 31 (6), pp. 641-657; Liu, C., Yao, L.J., Hu, N., Liu, L., The impact of IFRS on accounting quality in a regulated market: An empirical study of China (2011) Journal of Accounting, Auditing & Finance, 26 (4), pp. 659-676; Ohlson, J.A., Earnings, book values, and dividends in equity valuation (1995) Contemporary Accounting Research, 11 (2), pp. 661-687; Paananen, M., (2008) The IFRS adoption's effect on accounting quality in Sweden, , doi: 10.2139/ssrn.1097659; Paananen, M., Lin, H., The development of accounting quality of IAS and IFRS over time: The case of Germany (2009) Journal of International Accounting Research, 8 (1), pp. 31-55; Piot, C., Janin, R., Dumontier, P., IFRS consequences on accounting conservatism within Europe (2010) CAAA Annual Conference 2011; Sánchez, H., Palacios, M., Cortes, A., (2013) Calidad contable en américa latina: El caso de chile y México, , XVIII Congreso Internacional de Contaduría Administración e Informática 2013; Schipper, K., Commentary on earnings management (1989) Accounting Horizons, 3 (4), pp. 91-102; Soderstrom, N.S., Sun, K.J., IFRS adoption and accounting quality: A review (2007) European Accounting Review, 16 (4), pp. 675-702; Vieira, R., Martins, V., Machado, A., Domingues, J., Impacts of partial adoption of IFRS in Brazil: Effects on financial information quality of publicly traded companies (2011) British Journal of Economics, Finance and Management Sciences, 1 (2), pp. 93-112; Zeghal, D., Chtourou, S.M., Fourati, Y.M., The effect of mandatory adoption of IFRS on earnings quality: Evidence from the European Union (2012) Journal of International Accounting Research, 11 (2), pp. 1-25; Zhou, H., Xiong, Y., Ganguli, G., Does the adoption of international financial reporting standards restrain earnings management? Evidence from an emerging market (2009) Academy of Accounting and Financial Studies Journal, 13, pp. 43-56
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dc.publisher.spa.fl_str_mv	Revista Espacios
dc.publisher.faculty.spa.fl_str_mv	Facultad de Ciencias Económicas y Administrativas
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institution	Universidad de Medellín
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spelling	2018-04-13T16:33:13Z2018-04-13T16:33:13Z20177981015http://hdl.handle.net/11407/4549This paper examines whether the application of International Financial Reporting Standards (IFRS) is associated with higher accounting quality in Canada. By using a sample of domiciled and listed companies in the Canadian markets, the change in accounting quality is assessed under two measurement expressions: the value relevance and the level of accounting conservatism. The findings suggest that the accounting information, generated under IFRS, is associated with greater usefulness by market agents; Additionality, the negative returns are incorporated with greater timely in the earnings, regarding to the positive returns. Both results are associated with higher accounting quality. © 2017.spaRevista EspaciosFacultad de Ciencias Económicas y Administrativashttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85033711484&partnerID=40&md5=6f69497f1d3bb2a72d2cb72806d75795EspaciosAhmed, A.S., Neel, M., Wang, D., Does mandatory adoption of IFRS improve accounting quality? preliminary evidence (2013) Contemporary Accounting Research, 30 (4), pp. 1344-1372; Ali, A., Hwang, L., Country-specific factors related to financial reporting and the value relevance of accounting data (2000) Journal of Accounting Research, 38 (1), pp. 1-21; Aubert, F., Grudnitski, G., The impact and importance of mandatory adoption of international financial reporting standards in Europe (2011) Journal of International Financial Management & Accounting, 22 (1), pp. 1-26; Ball, R., Kothari, S., Robin, A., The effect of international institutional factors on properties of accounting earnings (2000) Journal of Accounting and Economics, 29 (1), pp. 1-51; Ball, R., Robin, A., Wu, J.S., Incentives versus standards: Properties of accounting income in four East Asian countries (2003) Journal of Accounting and Economics, 36 (1), pp. 235-270; Barth, M.E., Landsman, W.R., Lang, M.H., International accounting standards and accounting quality (2008) Journal of Accounting Research, 46 (3), pp. 467-498; Barth, M.E., Landsman, W., Lang, M., Williams, C., (2006) Accounting quality: International accounting standards and US GAAP, , Manuscript, Stanford University; Bartov, E., Goldberg, S.R., Kim, M., Comparative value relevance among german, US, and international accounting standards: A german stock market perspective (2005) Journal of Accounting, Auditing & Finance, 20 (2), pp. 95-119; Basu, S., The conservatism principle and the asymmetric timeliness of earnings 1 (1997) Journal of Accounting and Economics, 24 (1), pp. 3-37; Christensen, H.B., Lee, E., Walker, M., Zeng, C., Incentives or standards: What determines accounting quality changes around IFRS adoption? (2015) European Accounting Review, 24 (1), pp. 31-61; Chua, Y.L., Cheong, C.S., Gould, G., The impact of mandatory IFRS adoption on accounting quality: Evidence from Australia (2012) Journal of International Accounting Research, 11 (1), pp. 119-146; Devalle, A., Onali, E., Magarini, R., Assessing the value relevance of accounting data after the introduction of IFRS in Europe (2010) Journal of International Financial Management & Accounting, 21 (2), pp. 85-119; Dimitropoulos, P.E., Asteriou, D., Kousenidis, D., Leventis, S., The impact of IFRS on accounting quality: Evidence from Greece (2013) Advances in Accounting, 29 (1), pp. 108-123; Günther, N., Gegenfurtner, B., Kaserer, C., Achleitner, A., International financial reporting standards and earnings quality: The myth of voluntary vs. mandatory adoption (2009), CEFS Working Paper No. 2009-09; Healy, P.M., Wahlen, J.M., A review of the earnings management literature and its implications for standard setting (1999) Accounting Horizons, 13 (4), pp. 365-383; HellstrOm, K., The value relevance of financial accounting information in a transition economy: The case of the Czech Republic (2006) European Accounting Review, 15 (3), pp. 325-349; Hung, M., Subramanyam, K.R., Financial statement effects of adopting international accounting standards: The case of Germany (2007) Review of Accounting Studies, 12 (4), pp. 623-657; Iatridis, G., (2008) Implementation of international financial reporting standards and the quality of financial statement information; an investigation of earnings management and value relevance, , University of Thessaly. doi: 10.1.1.496.9261; Iatridis, G., International financial reporting standards and the quality of financial statement information (2010) International Review of Financial Analysis, 19 (3), pp. 193-204; Iatridis, G., Rouvolis, S., The post-adoption effects of the implementation of international financial reporting standards in Greece (2010) Journal of International Accounting, Auditing and Taxation, 19 (1), pp. 55-65; (2004) Review of the constitution, proposals for change International Accounting Standards Committee Foundation; Jara, M., Arias, J.T., The effect of mandatory IFRS adoption on accounting conservatism of reported earnings: Evidence from Chilean firms (2013) Academia Revista Latinoamericana de Administración, 26 (1), pp. 139-169; Jones, J.J., Earnings management during import relief investigations (1991) Journal of Accounting Research, 29 (2), pp. 193-228; Lang, M., Raedy, J.S., Wilson, W., Earnings management and cross listing: Are reconciled earnings comparable to US earnings? (2006) Journal of Accounting and Economics, 42 (1), pp. 255-283; Lang, M., Raedy, J.S., Yetman, M.H., How representative are firms that are crosslisted in the United States? An analysis of accounting quality (2003) Journal of Accounting Research, 41 (2), pp. 363-386; La Porta, R., Lopez DeSilanes, F., Shleifer, A., Vishny, R.M., Legal determinants of external finance (1997) Journal of Finance, 52 (3), pp. 1131-1150; Lin, S., Riccardi, W., Wang, C., Does accounting quality change following a switch from US GAAP to IFRS? Evidence from Germany (2012) Journal of Accounting and Public Policy, 31 (6), pp. 641-657; Liu, C., Yao, L.J., Hu, N., Liu, L., The impact of IFRS on accounting quality in a regulated market: An empirical study of China (2011) Journal of Accounting, Auditing & Finance, 26 (4), pp. 659-676; Ohlson, J.A., Earnings, book values, and dividends in equity valuation (1995) Contemporary Accounting Research, 11 (2), pp. 661-687; Paananen, M., (2008) The IFRS adoption's effect on accounting quality in Sweden, , doi: 10.2139/ssrn.1097659; Paananen, M., Lin, H., The development of accounting quality of IAS and IFRS over time: The case of Germany (2009) Journal of International Accounting Research, 8 (1), pp. 31-55; Piot, C., Janin, R., Dumontier, P., IFRS consequences on accounting conservatism within Europe (2010) CAAA Annual Conference 2011; Sánchez, H., Palacios, M., Cortes, A., (2013) Calidad contable en américa latina: El caso de chile y México, , XVIII Congreso Internacional de Contaduría Administración e Informática 2013; Schipper, K., Commentary on earnings management (1989) Accounting Horizons, 3 (4), pp. 91-102; Soderstrom, N.S., Sun, K.J., IFRS adoption and accounting quality: A review (2007) European Accounting Review, 16 (4), pp. 675-702; Vieira, R., Martins, V., Machado, A., Domingues, J., Impacts of partial adoption of IFRS in Brazil: Effects on financial information quality of publicly traded companies (2011) British Journal of Economics, Finance and Management Sciences, 1 (2), pp. 93-112; Zeghal, D., Chtourou, S.M., Fourati, Y.M., The effect of mandatory adoption of IFRS on earnings quality: Evidence from the European Union (2012) Journal of International Accounting Research, 11 (2), pp. 1-25; Zhou, H., Xiong, Y., Ganguli, G., Does the adoption of international financial reporting standards restrain earnings management? Evidence from an emerging market (2009) Academy of Accounting and Financial Studies Journal, 13, pp. 43-56ScopusThe impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]Articleinfo:eu-repo/semantics/articlehttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1Universitaria de Envigado - IUE, Envigado, Colombia; Universidad de Medellín, Medellín, ColombiaCardona Montoya J.C., Cano Morales A.M.Cardona Montoya, J.C., Universitaria de Envigado - IUE, Envigado, Colombia; Cano Morales, A.M., Universidad de Medellín, Medellín, ColombiaAccounting conservatism; Accounting quality; Adoption IFRS; Value relevanceThis paper examines whether the application of International Financial Reporting Standards (IFRS) is associated with higher accounting quality in Canada. By using a sample of domiciled and listed companies in the Canadian markets, the change in accounting quality is assessed under two measurement expressions: the value relevance and the level of accounting conservatism. The findings suggest that the accounting information, generated under IFRS, is associated with greater usefulness by market agents; Additionality, the negative returns are incorporated with greater timely in the earnings, regarding to the positive returns. Both results are associated with higher accounting quality. © 2017.http://purl.org/coar/access_right/c_16ec11407/4549oai:repository.udem.edu.co:11407/45492020-05-27 16:36:26.472Repositorio Institucional Universidad de Medellinrepositorio@udem.edu.co

The impact of international financial reporting standards on Canadian accounting quality [Impacto de los estándares internacionales de información financiera en la calidad contable canadiense]

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