Authors : Md. Aminuzzaman, Rosni Bakar and Md. Aminul Islam
Abstract: Compliance with accounting or financial reporting standards disseminated by International Accounting Standards Board (previously ISAC) became a crucial issue of the day after a series of corporate debacles over a decade. Regulators, professional bodies and researchers around the globe expressed their concern about the need for improved accounting and audit pronouncements and compliance for providing better information than previously required for the grounding and demonstration of corporate financial statements. The Institute of Chartered Accountants of Bangladesh (ICAB) the only authority for implementation of IASs and IFRSs has already adopted most of the principles handed out by the International Accounting Standards Committee (IASC). The first and foremost goal of the study to find out the extent of corporate disclosure based on the study comprised Bangladesh and whether there is any flaw in standard setting that leads to non-compliance. In addition, it also aims to reviewing the association between a numbers of corporate characteristics and levels of disclosure in company annual reports of listed companies in an emerging economy, like Bangladesh. Few years ago, annual reports of some Bangladeshi listed companies manufacturing in nature were examined. The result showed that the companies significantly followed, the selected accounting standards under review and brought about notable changes in the financial reporting practices.
Md. Aminuzzaman, Rosni Bakar and Md. Aminul Islam, 2015. Mandatory Compliance on IASs and IFRSs in an Emerging Economy: A Case of Bangladesh. International Business Management, 9: 7-14.