1 Accounting Research Centre - ARC, Aarhus School of Business, Aarhus BSS, Aarhus University2 Department of Business Studies, Aarhus School of Business, Aarhus BSS, Aarhus University3 Department of Economics and Business Economics, Aarhus BSS, Aarhus University4 unknown5 Department of Economics and Business Economics, Aarhus BSS, Aarhus University
n this paper we compare the implementation process to integrate IFRS in Ireland, Denmark and New Zealand and derive the critical succesfactors in capability to implement IFRS. The implementation phase is divided into three phases before, during and after the implementation process. The description is based of five basic elements that can be affected. For developing countries - but also more developed countries, e.g. the new countries in the EU - a description of these above mentioned elements is valuable information, if they are going to implement the IFRS standards. We find that every country has different challenges and problems to be aware of. Covering those characteristics is therefore a vital part of the planning process before the IFRS implementation. It is also beneficial to have companies as early adopters before the implementation. As well before as during the implementation process, it is essential to have a thorough and forward-looking debate and coordination between the legalislative authority, the administrating authority, the accounting profession and the stock exchange. During the implementation process it is vital that the accounting profession has become the right level of education. After the implementation it is important to have appropriate enforcements.
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Twelfth Annual Financial Reporting and Business Communication Conference, 2008