The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors
Autor(a) principal: | |
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Data de Publicação: | 2009 |
Outros Autores: | |
Tipo de documento: | Artigo de conferência |
Idioma: | por |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/6130 |
Resumo: | One of the main arguments in favour of the adoption and convergence with the international accounting standards published by the IASB (i.e. IAS/IFRS) is that these will allow comparability of financial reporting across countries. However, because these standards use verbal probability expressions (v.g. “probable”) when establishing the recognition and disclosure criteria for accounting elements, they require professional accountants to interpret and classify the probability of an outcome or event taking into account those terms and expressions and to best decide in terms of financial reporting. This paper reports part of a research we carried out on the interpretation of “in context” verbal probability expressions used in the IAS/IFRS by the auditors registered with the Portuguese Securities Market Commission, the Comissão do Mercado de Valores Mobiliários (CMVM). Our results provide support for the hypothesis that culture affects the CMVM registered auditors’ interpretation of verbal probability expressions through its influence on the accounting value (or attitude) of conservatism. Our results also suggest that there are significant differences in their interpretation of the term “probable”, which is consistent with literature in general. Since “probable” is the most frequent verbal probability expression used in the IAS/IFRS, this may have a negative impact on financial statements comparability. |
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The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditorsverbal probability expressions (VPE); IAS/IFRS; culture; auditors; comparability; Portugal.One of the main arguments in favour of the adoption and convergence with the international accounting standards published by the IASB (i.e. IAS/IFRS) is that these will allow comparability of financial reporting across countries. However, because these standards use verbal probability expressions (v.g. “probable”) when establishing the recognition and disclosure criteria for accounting elements, they require professional accountants to interpret and classify the probability of an outcome or event taking into account those terms and expressions and to best decide in terms of financial reporting. This paper reports part of a research we carried out on the interpretation of “in context” verbal probability expressions used in the IAS/IFRS by the auditors registered with the Portuguese Securities Market Commission, the Comissão do Mercado de Valores Mobiliários (CMVM). Our results provide support for the hypothesis that culture affects the CMVM registered auditors’ interpretation of verbal probability expressions through its influence on the accounting value (or attitude) of conservatism. Our results also suggest that there are significant differences in their interpretation of the term “probable”, which is consistent with literature in general. Since “probable” is the most frequent verbal probability expression used in the IAS/IFRS, this may have a negative impact on financial statements comparability.2012-11-29T16:33:48Z2012-11-292009-05-12T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/conferenceObjecthttp://hdl.handle.net/10174/6130http://hdl.handle.net/10174/6130porTeixeira, C. e Fialho, A. (2009): “The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors Registered with the Portuguese Securities Market Commission”, 32º Congresso Anual da European Accounting Association (EAA), Maio, Tampere, Finlândiasimnaonaondafialho@uevora.pt256Teixeira, CláudiaFialho Silva, Anainfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T18:45:24Zoai:dspace.uevora.pt:10174/6130Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:00:59.769401Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
title |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
spellingShingle |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors Teixeira, Cláudia verbal probability expressions (VPE); IAS/IFRS; culture; auditors; comparability; Portugal. |
title_short |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
title_full |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
title_fullStr |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
title_full_unstemmed |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
title_sort |
The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors |
author |
Teixeira, Cláudia |
author_facet |
Teixeira, Cláudia Fialho Silva, Ana |
author_role |
author |
author2 |
Fialho Silva, Ana |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Teixeira, Cláudia Fialho Silva, Ana |
dc.subject.por.fl_str_mv |
verbal probability expressions (VPE); IAS/IFRS; culture; auditors; comparability; Portugal. |
topic |
verbal probability expressions (VPE); IAS/IFRS; culture; auditors; comparability; Portugal. |
description |
One of the main arguments in favour of the adoption and convergence with the international accounting standards published by the IASB (i.e. IAS/IFRS) is that these will allow comparability of financial reporting across countries. However, because these standards use verbal probability expressions (v.g. “probable”) when establishing the recognition and disclosure criteria for accounting elements, they require professional accountants to interpret and classify the probability of an outcome or event taking into account those terms and expressions and to best decide in terms of financial reporting. This paper reports part of a research we carried out on the interpretation of “in context” verbal probability expressions used in the IAS/IFRS by the auditors registered with the Portuguese Securities Market Commission, the Comissão do Mercado de Valores Mobiliários (CMVM). Our results provide support for the hypothesis that culture affects the CMVM registered auditors’ interpretation of verbal probability expressions through its influence on the accounting value (or attitude) of conservatism. Our results also suggest that there are significant differences in their interpretation of the term “probable”, which is consistent with literature in general. Since “probable” is the most frequent verbal probability expression used in the IAS/IFRS, this may have a negative impact on financial statements comparability. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009-05-12T00:00:00Z 2012-11-29T16:33:48Z 2012-11-29 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/conferenceObject |
format |
conferenceObject |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10174/6130 http://hdl.handle.net/10174/6130 |
url |
http://hdl.handle.net/10174/6130 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
Teixeira, C. e Fialho, A. (2009): “The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: The Auditors Registered with the Portuguese Securities Market Commission”, 32º Congresso Anual da European Accounting Association (EAA), Maio, Tampere, Finlândia sim nao nao nd afialho@uevora.pt 256 |
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info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
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reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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