Meta-Analysis of the Impact of International Financial Reporting Standard ( IFRS) on Financial Quality
DOI:
https://doi.org/10.37296/esci.v4i2.162Kata Kunci:
International Financial Reporting Standards (IFRS), Financial Quality, Meta-AnalysisAbstrak
This study aims to conduct a meta-analysis of the impact of the implementation of the International Financial Reporting Standard (IFRS) on the quality of financial statements. Through the collection of data from various studies that have been conducted previously, this study integrates empirical results to obtain a more comprehensive understanding of the effects of IFRS on the transparency, accuracy, and reliability of financial statements. This study identified, assessed, and synthesized findings from 12 selected studies from the period 2022 to 2024. The results of the analysis show that the implementation of IFRS significantly improves the quality of financial statements with a Hedge's (d) value of 1,082 in the high effect size category. This effect is especially strong in countries with high levels of financial supervision and strong legal systems. These findings provide evidence to support the implementation of IFRS as an effective global standardization tool in improving the quality and reliability of financial statements internationally. The study also discusses the implications of the findings for regulators, practitioners, and users of financial statements and presents recommendations for further research.
Referensi
Abdullahi, A., & Abubakar, M. Y. (2020). International Financial Reporting Standards (IFRS) and Reporting Quality in Nigeria: An Assessment of Selected Quoted Firms. International Business and Accounting Research Journal, 4(1), 11. https://doi.org/10.15294/ibarj.v4i1.90
Adnan, A., & Khan, M. (2021). Adoption of International Financial Reporting Standard (IFRS) and its Consequences on Financial Reporting Quality: A Review. 2.
Agana, J., Zori, S., & Alon, A. (2023). IFRS Adoption Approaches and Accounting Quality. The International Journal of Accounting, 58. https://doi.org/10.1142/S1094406023500099
Albu, N., Albu, C. N., & Gray, S. J. (2020). Institutional factors and the impact of international financial reporting standards: The Central and Eastern European experience. Accounting Forum, 44(3), 184–214. https://doi.org/10.1080/01559982.2019.1701793
Amissah, E., Hammond, P., & Djimatey, R. (2020). The Effects of International Financial Reporting Standards on Reporting Quality of Financial Institutions in Ghana. International Journal of Accounting and Financial Reporting, 10(2), 94. https://doi.org/10.5296/ijafr.v10i2.16851
Dincer, S. (2014). Eğitim bilimlerinde uygulamalı meta-analiz. Pegem Akademi Yayıncılık. https://doi.org/10.14527/pegem.001
Ezejiofor, R. (2022). EFFECT OF IFRS IMPLEMENTATION ON THE FINANCIAL REPORT QUALITY OF NIGERIAN BANKS. 2, 2782–7674.
Gatluak Gach Chuol Thony, & Peter, A. D. (2022). The Impact of Adoption of International Financial Reporting Standard on Quality of Accounting Information in South Sudan: A Case Study of Kenya Commercial Bank and Cooperative Bank. https://doi.org/10.5281/ZENODO.7493730
Goodwin, J., Ahmed, K., & Heaney, R. (2008). The Effects of International Financial Reporting Standards on the Accounts and Accounting Quality of Australian Firms: A Retrospective Study. Journal of Contemporary Accounting & Economics, 4(2), 89–119. https://doi.org/10.1016/S1815-5669(10)70031-X
Hidayah, R., Wangid, M. N., Wuryandani, W., & Salimi, M. (2023). The Influence of Teacher Efficacy on Education Quality: A Meta-Analysis. International Journal of Educational Methodology, 9(2), 435–450. https://doi.org/10.12973/ijem.9.2.435
Houcine, A., Zitouni, M., & Srairi, S. (2022). The impact of corporate governance and IFRS on the relationship between financial reporting quality and investment efficiency in a continental accounting system. EuroMed Journal of Business, 17(2), 246–269. https://doi.org/10.1108/EMJB-06-2020-0063
Jatiningrum, C., Fauzi, Irviani, R., Mujiyati, & Hasan, S. (2020). AN INVESTIGATION ON THE EFFECT OF AUDIT COMMITTEE ON FINANCIAL REPORTING QUALITY IN PRE AND POST IFRS ADOPTION: EVIDENCE FROM MALAYSIAN COMPANIES. Humanities & Social Sciences Reviews, 8(2), 25–35. https://doi.org/10.18510/hssr.2020.824
Lawal, A. I., Oseni, E., Babajide, A. A., Lawal-Adedoyin, B., & Bonetipin, F. (2020). THE IMPACT OF INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION ON KEY FINANCIAL RATIOS IN NIGERIA. Humanities & Social Sciences Reviews, 8(4), 289–300. https://doi.org/10.18510/hssr.2020.8430
Mbir, D. E. G., Agyemang, O. S., Tackie, G., & Abeka, M. J. (2020). IFRS compliance, corporate governance and financial reporting quality of GSE-listed non-financial firms. Cogent Business & Management, 7(1), 1759856. https://doi.org/10.1080/23311975.2020.1759856
Mensah, E. (2021). The effect of IFRS adoption on financial reporting quality: Evidence from listed manufacturing firms in Ghana. Economic Research-Ekonomska Istraživanja, 34(1), 2890–2905. https://doi.org/10.1080/1331677X.2020.1860109
Mohammed, A., Abubakar, A. K., & Lawal, O. D. (2021). EFFECT OF INTERNATIONAL FINANCIAL REPORTING STANDARDS ON EARNINGS QUALITY OF LISTED CONGLOMERATES IN NIGERIA? 13(1).
Musa, A. (2019). The Role of IFRS on Financial Reporting Quality and Global Convergence: A Conceptual Review. International Business and Accounting Research Journal, 3(1), 67. https://doi.org/10.15294/ibarj.v3i1.65
NGUYEN, T. L. H., LE, T. H. P., DAO, N. M., & PHAM, N. T. (2020). Factors Affecting Enterprises that Apply the International Financial Report Standards (IFRS): A Case Study in Vietnam. The Journal of Asian Finance, Economics and Business, 7(12), 409–422. https://doi.org/10.13106/JAFEB.2020.VOL7.NO12.409
Oktarina, K., Suhaimi, S., Santosa, T. A., Razak, A., Irdawati, I., Ahda, Y., Lufri, L., & Putri, D. H. (2021). Meta-Analysis: The Effectiveness of Using Blended Learning on Multiple Intelligences and Student Character Education During the Covid-19 Period. IJECA (International Journal of Education and Curriculum Application), 4(3), 184–192. https://doi.org/10.31764/ijeca.v4i3.5505
Oppong, C., & Bruce-Amartey, A. (2022). International Financial Reporting Standards, Board Governance and Accounting Quality: Preliminary Ghanaian Evidence. Journal of Accounting, Business and Finance Research, 15, 27–40. https://doi.org/10.55217/102.v15i2.528
Outa, E. (2011). The Impact of International Financial Reporting Standards (IFRS) Adoption on The Accounting Quality of Listed Companies In Kenya. International Journal of Accounting and Financial Reporting, 1. https://doi.org/10.2139/ssrn.1976146
Öztop, F. (2023). A Meta-Analysis of the Effectiveness of Digital Technology-Assisted STEM Education. Journal of Science Learning, 6(2), 136–142. https://doi.org/10.17509/jsl.v6i2.52316
Putra, M., Rahman, A., Ilwandri, I., Suhayat, Y., Santosa, T. A., Putra, R., & Aprilisia, S. (2023). The Effect of STEM-Based REACT Model on Students’ Critical Thinking Skills: A Meta-Analysis Study. LITERACY : International Scientific Journals of Social, Education, Humanities, 2(1), Article 1. https://doi.org/10.56910/literacy.v2i1.560
Rasyid, S. (2023). Quality of Financial Reporting: Differences Before and After IFRS Adoption in Basic and Chemical Industry Companies Listed on the Indonesia Stock Exchange. INTERNATIONAL JOURNAL OF ACADEMIC RESEARCH IN BUSINESS AND SOCIAL SCIENCES, 1(1).
Santosa, T. A., Suhaimi, S., & Aprilsia, S. (2022). Analisis Pendekatan Saintifik Dalam Pembelajaran IPA Selama Pandemi Covid-19 di Sekolah Dasar. Jurnal DIDIKA: Wahana Ilmiah Pendidikan Dasar, 8(1), Article 1. https://doi.org/10.29408/didika.v8i1.5776
Septriana, I., & Fuad, F. (2020). Factors Affecting the Understanding of IFRS in Accounting Students. International Journal of Higher Education, 9(4), 302. https://doi.org/10.5430/ijhe.v9n4p302
Tawiah, V., & Gyapong, E. (2023). International financial reporting standards, domestic debt finance and institutional quality: Evidence from developing countries. International Journal of Finance & Economics, 28(3), 2915–2936. https://doi.org/10.1002/ijfe.2575
Tijjani, B., Ur Rehman, S., Peter, Z., Bajwa, I., & Khan, M. (2021). Research productivity of International Financial Reporting Standards (IFRS) from 2003 to 2020. Global Knowledge, Memory and Communication, ahead-of-print. https://doi.org/10.1108/GKMC-02-2021-0025
Utomo, W., Suryono, W., Jimmi, J., Santosa, T. A., & Agustina, I. (2023). Effect of STEAM-Based Hybrid Based Learning Model on Students’ Critical Thinking Skills. Jurnal Penelitian Pendidikan IPA, 9(9), 742–750. https://doi.org/10.29303/jppipa.v9i9.5147
Zulkifli, Z., Satria, E., Supriyadi, A., & Santosa, T. A. (2022). Meta-analysis: The effectiveness of the integrated STEM technology pedagogical content knowledge learning model on the 21st century skills of high school students in the science department. Psychology, Evaluation, and Technology in Educational Research, 5(1), Article 1. https://doi.org/10.33292/petier.v5i1.144
