Özet:

Abstract Implementing one set of accounting standards worldwide is challenging because accounting and regulatory frameworks must reflect market dynamics of each country in the world. While the adoption of International Financial Reporting Standards (IFRS) in Georgia and the convergence to IFRS in China were successful in benefiting the banking sectors of those countries, the IFRS adoption promoted earnings management in Hong Kong. The fact that the IFRS was only successful in Georgia and China, where financial markets are not as developed as they are in Hong Kong, raises concerns about the effectiveness of the IFRS in the United States.

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