A Framework for Post Implementation Review of Iranian Accounting Standards

Document Type : Research Paper

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Abstract

Over the last decade, International Accounting Standards Board (IASB) and Financial Accounting Standards Board (FASB) have concluded that publication of an exposure draft to ensure the quality of accounting standards would not be enough anymore. Indeed, a comprehensive Post Implementation Review (PIR) of accounting standards should be performed to ensure the effectiveness of approved accounting standards. In other words, one more step has been added to accounting standards setting process and in future one of the main challenges towards standard setters would be the fact that whether their PIR has a prompt feedback or not. This research attempts to provide a proper PIR framework for accounting standards of Iran through comparative studies of frameworks designed by pioneering accounting standard setters, with participation of various stakeholders (108 people including university professors, enterprise Chief financial officers, expert external auditors and Chief investment officers).
In the proposed framework, we answered to these questions: "Who performs the PIR? When is the PIR performed? What are the general and specific objectives of the PIR? How is the PIR process? What is the content of the PIR report?".

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References

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History

  • Receive Date: 14 August 2016
  • Revise Date: 08 February 2017
  • Accept Date: 22 November 2016

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