Challenges of Adoption and Implementation of Global Accounting and Auditing Standards

Author:Aziz TAYYEBI



Keywords:International Financial Reporting Standards, economic growth, global standard, globalization

In this article the author is analyzing the aspects related to the challenges which can occur during the process of adoption and implementation of the global accounting and auditing standards.\r\nIt is shown how a sound financial reporting system, supported by the high quality standards and appropriate regulatory and governance frameworks is an integral part of economic development. Robust standards in auditing, ethics and financial reporting underpin the trust that investors place in financial information and therefore are pivotal in contributing to a country’s economic prosperity and financial stability.\r\n