Comparability and Transparency of Financial Reporting Based on the International Financial Reporting Standards

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This study evaluates the regulatory actions of the International Financial Reporting Standards (IFRSs) adoption by the United States Securities and Exchange Commission and the Financial Services Agency in Japan. This study also analyses the meanings of "A Single Set of High-Quality, Globally Accepted Accounting Standards" and the legal ground for the international organizations and its legitimacy.In addition to that, this study addresses the question whether the mandatory adoption of IFRSs in Korea is associated with higher accounting quality. I find that the evaluations of accounting transparency following the introduction of the IFRSs through their adoption mandated by Korean regulatory authorities. It also clarifies aspects of the IFRSs adoption such as its effects and its characteristics during its implementation.