PEACEFULNESS OF NATIONS AND THE USE OF INTERNATIONAL FINANCIAL REPORTING STANDARDS.

Citation metadata

Authors: Bairj Donabedian, Raymond J. Elson, Susanne O'Callaghan, John P. Walker and Cathy Dwyer
Date: Summer 2019
From: Global Journal of Accounting and Finance(Vol. 3, Issue 1)
Publisher: Institute for Global Business Research
Document Type: Article
Length: 2,445 words

Main content

Abstract :

The purpose of this paper is to identify any correlations between the use of a standardized accounting framework such as IFRS, and the level of peacefulness of the nations in the world. Not all of the world's 163 nations use a standardized framework to capture financial information or to report with a consistent manner of transparency. However, countries that use a particular systematized reporting framework seem to enhance the economic environment and provide an adequate standard of living among their own inhabitants. To explore this hypothesis, we examined two databases: the 2018 Global Peace Index of 163 ranked countries on their peacefulness (including democracy, transparency, education and material well-being in addition to the economic value of peace and violence) and the IFRS database of countries that require domestic companies to file using IFRS. An analysis of variance (ANOVA) test was applied to the peacefulness index of countries that require IFRS, compared to those that do not. We found that countries that have adopted IFRS are significantly more peaceful compared to those that have not, and that the correlation is not by chance. Future research could study the causation of such a correlation. This research could make a case for consistent use of IFRS around the world and possibly increase the peacefulness of the world.

Source Citation

Source Citation
Donabedian, Bairj, et al. "PEACEFULNESS OF NATIONS AND THE USE OF INTERNATIONAL FINANCIAL REPORTING STANDARDS." Global Journal of Accounting and Finance, vol. 3, no. 1, 2019, p. 68+. Accessed 26 Sept. 2020.
  

Gale Document Number: GALE|A612476221