Evaluation of Compliance with International Financial Reporting Requirements in Iranian Mutual Funds

Articles in Press

Document Type : Research Paper

Authors

1 Assistant Professor, Department of Accounting, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran.

2 Professor, Department of Accounting, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran

3 MSc, Department of Accounting, Faculty of Social Science & Economics, Alzahra University, Tehran, Iran

10.22103/jak.2024.23921.4089

Abstract

Objective: The investment of companies worldwide requires the publication of reliable information in the form of financial statements. The final product of the financial reporting process is financial statements. Financial statements are one of the most important sources of information to show the financial status, performance results, and cash flows of business entities; Therefore, the basics of their preparation are important. In order to make correct decisions and optimal allocation of resources, it is necessary to be able to compare the financial information of economic enterprises with each other. Adoption of international financial reporting standards can help investors to better understand investment conditions. Mutual funds have been able to attract capital from a wide range of investors due to their diversity. The increase in diversity, introduction of new types of mutual funds, and the growing number and value of the assets under their management indicate the public interest in this financial institution in the field of the national economy. Executive instructions for recording and reporting financial events of investment funds were prepared by the members of the Standards and Training Committee and the Financial Institutions Supervision Department of the Securities and Exchange Organization in 2009. One of the weaknesses of this instruction is lack of updating regarding the current issues of funds and international financial reporting standards such as fair value which is implemented in Iran. This study aims to investigate the level of compliance between national financial reporting requirements in mutual funds and international financial reporting standards. This review...

Keywords

Journal of Accounting Knowledge

Articles in Press, Accepted Manuscript
Available Online from 25 November 2024

Files

History

  • Receive Date: 22 August 2024
  • Revise Date: 18 November 2024
  • Accept Date: 25 November 2024

Share

How to cite

Statistics