EFFECTS OF IFRS ADOPTION ON FINANCIAL STATEMENT QUALITY AND COMPARABILITY

This study examines the perceptions of chartered accountants regarding the impact of International Financial Reporting Standards (IFRS) on financial reporting practices in India. The research aims to assess whether IFRS adoption has enhanced the quality and comparability of financial statements and to explore the relationship between chartered accountants’ demographic profiles and their perceptions. A structured questionnaire using a Likert scale was administered to a sample of 188 chartered accountants. The analysis employed One-Sample t-tests to evaluate perceptions against a neutral benchmark. Findings indicate that chartered accountants perceive IFRS adoption to have significantly improved the overall quality, reliability, and transparency of financial statements, as well as facilitated easier analysis and comparability across firms. The study underscores the significance of IFRS as a global accounting framework that strengthens financial reporting, fosters investor confidence, and promotes consistency across domestic and international financial statements. Furthermore, the research highlights that demographic factors, such as experience and professional exposure, may influence perceptions of IFRS adoption. Overall, the study provides valuable insights for policymakers, accounting professionals, and regulators regarding the effectiveness and practical implications of IFRS adoption in enhancing financial statement quality and comparability.