Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.22/572
Título: The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: the auditors Rrgistered with the portuguese securities market commission
Autor: Teixeira, Maria Cláudia
Palavras-chave: Verbal probability expressions
Portugal
Culture
Auditors
Comparability
Data: 2009
Editora: Instituto Politécnico do Porto. Instituto Superior de Contabilidade e Administração do Porto
Resumo: One of the main arguments in favour of the adoption and convergence with the international accounting standards published by the IASB (i.e. IAS/IFRS) is that these will allow comparability of financial reporting across countries. However, because these standards use verbal probability expressions (v.g. “probable”) when establishing the recognition and disclosure criteria for accounting elements, they require professional accountants to interpret and classify the probability of an outcome or event taking into account those terms and expressions and to best decide in terms of financial reporting. This paper reports part of a research we carried out on the interpretation of “in context” verbal probability expressions used in the IAS/IFRS by the auditors registered with the Portuguese Securities Market Commission, the Comissão do Mercado de Valores Mobiliários (CMVM). Our results provide support for the hypothesis that culture affects the CMVM registered auditors’ interpretation of verbal probability expressions through its influence on the accounting value (or attitude) of conservatism. Our results also suggest that there are significant differences in their interpretation of the term “probable”, which is consistent with literature in general. Since “probable” is the most frequent verbal probability expression used in the IAS/IFRS, this may have a negative impact on financial statements comparability.
URI: http://hdl.handle.net/10400.22/572
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