Implications of IFRS Adoption: Enhancing Accounting Quality, Regulatory Framework, and Foreign Direct Investment

Simi Anto

Abstract: The adoption of International Financial Reporting Standards (IFRS) has significantly reshaped the global financial reporting landscape, with its principles-based approach promoting transparency and comparability. This research paper explores the differences between Generally Accepted Accounting Principles (GAAP), IFRS, and Indian Accounting Standards (Ind AS), and the impact of IFRS adoption on accounting quality and value relevance in India. Additionally, the study assesses the IFRS adoption status in India, regulatory frameworks, expert perceptions, and the role of accounting standards in attracting Foreign Direct Investment (FDI). The research is supported by extensive literature reviews and concludes with suggestions for the effective implementation of IFRS in India to maximize its economic benefits.

Keywords: FDI, IFRS Convergence, GAAP, Regulatory framework

How to Cite?: Simi Anto, "Implications of IFRS Adoption: Enhancing Accounting Quality, Regulatory Framework, and Foreign Direct Investment", Volume 13 Issue 10, October 2024, International Journal of Science and Research (IJSR), Pages: 959-961, https://www.ijsr.net/getabstract.php?paperid=SR241010102040, DOI: https://dx.doi.org/10.21275/SR241010102040