IFRSs Convergence and Expectation Gap: Vindication from Practitioners

Abstract

The study has attempted to measure the Indian practitioners’ expectation gaps about IFRSs convergence. Based on literature, two hypotheses, a conceptual model and a questionnaire, have been formed. Through protocol interviews followed by a pretest, the questionnaire has been tested (reliability and validity) before conducting the online survey. A total of 159 sample responses has been assessed to measure the gaps on four major parameters. For assaying the gaps, the arithmetic and weighted arithmetic mean differences and paired sample t-test have been applied, which have indicated the likely persistence of gaps. The significant statistical results have indicated likely to reject the null hypotheses and it has to conclude that regulatory requirements have influenced in convergence and the Ind AS probably to improve the reporting practices, audit qualities and analysts’ forecasting. Study limitations, practical implications and roadmap for further research have also been indicated.