THE ARGUMENTS FOR HARMONISATION OF ACCOUNTING STANDARDS OUTWEIGH THE ARGUMENTS AGAINST
https://doi.org/10.5281/zenodo.17374747
Keywords:
accounting standards, harmonisation, international financial reporting, comparability, transparency, IFRS, globalisation, financial reporting, investor confidenceAbstract
This article explores the ongoing debate surrounding the harmonisation of accounting standards across different countries and regions. It argues that the benefits of harmonisation—such as improved comparability, transparency, and reliability of financial statements—far outweigh the potential drawbacks. The study highlights how global alignment of accounting practices facilitates cross-border investment, enhances investor confidence, and supports the efficiency of international capital markets. Additionally, it examines the challenges related to cultural, legal, and economic differences that may hinder full harmonisation. The paper concludes that, despite existing obstacles, the pursuit of global accounting harmonisation remains a crucial step toward achieving consistency and trust in financial reporting.
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