On Internationalization of Accounting and Economic Environment
On Internationalization of Accounting and Economic Environment
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发表时间：
2004
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通讯作者：
Zhao Zi-ye
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作者：
Zhao Zi-ye
There are great disputations in academia and divergences in supervisory authorities as to whether internationalization of accounting should take Chinese environment into consideration. Will internationalization of accounting standards lead to the comparability of accounting practices, while deviation from International Accounting Standards (IAS) surely lead to their incomparability? The paper makes an empirical research by employing the reform policies issued with Accounting Regulation for Enterprises, which contains both policies in accordance with or deviating from IAS and the data of reported earnings under Chinese GAAP and IAS of companies that have issued both A-shares and B-shares. We find that reform policies in accordance with IAS did not eliminate the substantial gap between Chinese and IAS earnings in the year when Accounting Regulation for Enterprises was in effect, while reform policies deviating from IAS did not produce significant differences, either, thus proving that internationalization of accounting standards can't guarantee the comparability of accounting practices, while reform measures considering economic environments may not hinder the internationalization of accounting practices. We further find that audit is the basic factor influencing the effects of internationalization of accounting of China.
