شناسایی چالش‌های فنی به‎کارگیری ارزش‎ منصفانه در گزارشگری مالی ایران: با تأکید بر الزامات IFRS13

نوع مقاله : مقاله علمی پژوهشی

نویسندگان

1 دانشجوی دکتری، گروه حسابداری، دانشکده علوم اجتماعی و اقتصادی دانشگاه الزهرا (س)، تهران، ایران

2 استاد، گروه حسابداری، دانشکده علوم اجتماعی و اقتصادی دانشگاه الزهرا (س)، تهران، ایران

چکیده

هدف: با پذیرش کامل استانداردهای بین‎المللی گزارشگری مالی، اندازه‎گیری و افشای ارزش منصفانه در گزارشگری مالی ایران فراگیرتر خواهد شد. هدف این پژوهش شناسایی چالش‎های فنی اندازه‎گیری و افشای ارزش منصفانه طبق چارچوب پیشنهاد شده در استاندارد بین‎المللی 13 و عوامل فنی زمینه‎ساز مقاومت در برابر گزارشگری مالی ارزش منصفانه‎محور از دیدگاه خبرگان حرفه حسابداری و حسابرسی در ایران است.
روش: پس از مطالعه مروری گسترده با رویکرد تحلیلی، چالش‎های فنی شناسایی شدند. سپس با استفاده از روش تحلیل محتوای کیفی، مدل اولیه مقوله‎بندی چالش‎های فنی استخراج شد. از پرسش‎نامه‎های ساختاریافته مبتنی ‎بر منطق فازی، برای گردآوری دیدگاه خبرگان حرفه از سه گروه مختلف نظریه پردازان و استانداردگذاران (23 خبره)، حسابرسان مستقل (29 خبره) و مدیران مالی (27 خبره) بهره برده شد. داده‎های پژوهش با استفاده از روش‎های دلفی فازی و تحلیل سلسله‎مراتبی فازی تجزیه و تحلیل شدند.
یافته‎ها: دیدگاه خبرگان حرفه در ایران نسبت به الگوی ارزش منصفانه مثبت است. اما، چالش‎های فنی شناسایی‎شده در خصوص اندازه‎گیری و افشای ارزش منصفانه موجب می‎شوند که پذیرش الگوی ارزش منصفانه و به‎کارگیری گسترده آن در عمل چالش‎انگیز شود. یافته‎ها نشان می‎دهد با وجود ارزیابی مثبت خبرگان حرفه از کمیت و کیفیت الزامات افشای استاندارد بین‎المللی 13، اثربخشی گزارشگری مالی مبتنی ‎بر ارزش منصفانه در ایران از بعد ارزیابی وظیفه مباشرت و کارایی آن از دیدگاه استفاده‎کنندگان از اطلاعات بحث‎برانگیز است. همچنین عدم رعایت برخی الزامات افشای استاندارد 13 امکان‎پذیر است که در کنار ضعف ضمانت‎های اجرایی در محیط گزارشگری مالی ایران می‎تواند بر اثربخشی استاندارد یاد شده و گزارشگری مالی ارزش منصفانه‎محور در ایران تأثیر منفی داشته باشد. البته، در خصوص الزامات افشایی که ممکن است در عمل رعایت نشوند و عوامل فنی زمینه‎ساز مقاومت، بین دو گروه اجرایی و گروه نظریه‎پردازان و استانداردگذاران اختلاف نظرهایی وجود دارد.
نتیجه‎گیری: استانداردگذاران و جوامع حرفه‎ای باید نسبت به چالش‎های فنی حسابداری مبتنی ‎بر ارزش منصفانه آگاه باشند و بسترهای مناسب و لازمی را برای گزارشگری مالی ارزش منصفانه‎محور با کیفیت و کارا و اثربخش بودن استاندارد بین‎المللی 13 در محیط گزارشگری مالی ایران فراهم کنند.

کلیدواژه‌ها

عنوان مقاله [English]

Technical Challenges of Implementing Fair Values in Financial Reporting of Iran: Emphasizing on IFRS13 Requirements

نویسندگان [English]

  • Maryam Golmohammadi 1
  • Ali Rahmani 2
1 PhD Candidate, Department of Accounting, Faculty of Social and Economic, Al-Zahra University, Tehran, Iran
2 Prof., Department of Accounting, Faculty of Social and Economic, Al-Zahra University, Tehran, Iran
چکیده [English]

Objective: By the full adoption of IFRS, measurement and disclosure of fair values become more common in Iranian financial reporting. The present study aims to identify the technical challenges of fair value measurement and disclosure in accordance with the proposed framework in IFRS13 as well as technical factors underlying resistance to fair-value based financial reporting from accounting and auditing experts’ points of view in the financial reporting environment of Iran.
Methods: Technical challenges were identified by conducting a comprehensive review study with analytical approach. Then, we used qualitative content analysis method in order to elicit the primary model of categorizing technical challenges. Using the structured research questionnaires developed based on the Fuzzy Logic, experts’ points of view about technical challenges of fair-value based financial reporting in Iran were collected from three different groups: 1) Theorists and standard setters group (23 experts), 2) Independent auditors group (29 experts) and 3) financial managers group (27 experts). The data of the study was analyzed via Fuzzy Delphi method as well as Fuzzy Hierarchical Analysis method.
Results: Findings reveal that Iranian professional experts had a positive viewpoint about Fair-Value measurement paradigm. However, adoption of fair value measurement paradigm and widespread implementation of it is challenging in practice, because of the technical challenges of fair value measurement and disclosure. Results show that, in spite of positive viewpoint of professional experts about quality and quantity of disclosure requirements in IFRS 13, effectiveness of fair-value based financial reporting in Iran is controversial from two aspects: the usefulness of fair-value based information in evaluating of stewardship and efficiency of those requirements from information users’ standpoint. Results reveal that there is some possibility of non-compliance with IFRS13 disclosure requirements in financial reporting environment of Iran. In addition to the weakness of enforcement requirements in Iran, non-compliance with disclosure requirements will have negative impact on effectiveness of IFRS13 and fair-value based financial reporting. Albeit, some differences exist between experts’ viewpoint among “Theorists and standard setters group” and “executive group” in regards to determination of those disclosure requirements which will not be accomplished in practice and technical factors underlying resistance to adoption and implementation of IFRS13.
Conclusion: Standard setters and professional accounting and auditing communities should be aware of significant technical challenges of fair value accounting and also prepare suitable infrastructures for high quality fair-value based financial reporting as well as implementation of IFRS13 effectively and efficiently in financial reporting environment of Iran.

کلیدواژه‌ها [English]

  • Fair value
  • Fair Value-based Financial Report
  • Fai Value-Based Accounting
  • Disclosing Faire Value Information
  • International Standard of Financial Reporting No. 13

مراجع

رحمانی، علی؛ طاهری، ماندانا (1396). بهای تمام شده یا ارزش منصفانه تسهیلات، کدام‎یک بر زیان اعتباری شبکه بانکی ایران مؤثرتر است؟ فصلنامه پژوهش‎های پولی- بانکی، 10(33)، 481 – 507.
کرمی، غلامرضا؛ بیک بشرویه، سلمان (1396). تدوین مدل پیاده‎سازی نظام ارزش‎های منصفانه در ایران با تأکید بر اندازه‎گیری. بررسی‎های حسابداری و حسابرسی، 24(4)، 573 – 596.
مقدسی نیکجه، مینا؛ حجازی، رضوان؛ اکبری، مرتضی؛ دهقان دهنوی، محمد علی (1396). تأثیر برآورد ارزش منصفانه پرتفوی تسهیلات اعطایی بانک‎ها با رویکرد استانداردهای بین‎المللی گزارشگری مالی (مطالعه موردی: یک بانک ایرانی). بررسی‎های حسابداری و حسابرسی، 24 (4)، 597-621.
مؤمنی، منصور؛ فعال قیومی، علی (1396). تحلیل آماری با استفاده از SPSS. چاپ یازدهم. تهران: انتشارات نگارنده دانش.
References
Ahmed, K. (2012). Auditing Fair Value measurements and Disclosures: A case of the Big 4 Audit Firms. Master Thesis: Umera school of Business and Economics.
Alinia, Es., Vojoudinobakht, A. (2014). Interpretation and application of International Financial Reporting Standards & Auditing. 1th Edition, Tehran: Green Thinking press.
(in Persian)
Armstrong, C. S., Barth, M. E., Jagolinzer, A. D., & Riedl, E. J. (2010). Market reaction to the adoption of IFRS in Europe. The accounting review, 85(1), 31-61.
Badia, M., Duro, M., Penalva, F., & Ryan, S. (2017). Conditionally conservative fair value measurements. Journal of Accounting and Economics, 63(1), 75–98.
Ball, R. (2006). International Financial Reporting Standards (IFRS): Pros and cons for investors. Accounting and Business Research-International Accounting Policy Forum, 36(sup1), 5-27.
Barlev, B., & Haddad, J. R. (2003). Fair value accounting and the management of the firm. Critical Perspectives on Accounting, 14(4), 383-415.
Barth, M. E. (2006). Including estimates of the future in today's financial statements. Accounting Horizons, 20(3), 271-285.
Barth, M. E., Beaver, W. H., & Landsman, W. R. (2001). The relevance of the value relevance literature for financial accounting standard setting: another view. Journal of accounting and economics, 31(1-3), 77-104.
Barth, M., Landsman, W., & Wahlen, J. (1995). Fair Value Accounting: Effects on Banks' Earnings Volatility, Regulatory Capital, and Value of Contractual Cash Flows. Journal of Banking and Finance, 19, 577-605.
Bratten, B., Gaynor, L. M., McDaniel, L., Montague, N. R., & Sierra, G. E. (2013). The audit of fair values and other estimates: The effects of underlying environmental, task, and auditor-specific factors. Auditing: A Journal of Practice & Theory, 32(sp1), 7-44.
Bushman, R., & Landsman, W. R. (2010). The pros and cons of regulating corporate reporting: a critical review of the arguments. Accounting and Business Research, 40(3), 259-273.
Busso, D. (2014). Does IFRS 13 Improve the Disclosure of the Fair Value Measurement? An empirical analysis of the real estate sector in Europe. GSTF Journal on Business Review (GBR), 3(4), 1–8.
Capkun, V., Collins, D. W., & Jeanjean, T. (2012). Does adoption of IAS/IFRS deter earnings management? Google Scholar, SSRN, uiova. Edu, accessed, 22(8), 2014- 2072.
Christensen, H. B., Lee, E., & Walker, M. (2007). Cross-sectional variation in the economic consequences of international accounting harmonization: The case of mandatory IFRS adoption in the UK. The International Journal of Accounting, 42(4), 341-379.
Christensen, H. B., Lee, E., Walker, M., & Zeng, C. (2015). Incentives or standards: What determines accounting quality changes around IFRS adoption? European Accounting Review, 24(1), 31-61.
Cronbach, L. J., & Meehl, P. E. (1955). Construct validity in psychological tests. Psychological bulletin, 52(4), 281-302.
Daske, H., Hail, L., Leuz, C., & Verdi, R. (2008). Mandatory IFRS reporting around the world: Early evidence on the economic consequences. Journal of accounting research, 46(5), 1085-1142.
Dechow, P., Ge, W., & Schrand, C. (2010). Understanding earnings quality: A review of the proxies, their determinants and their consequences. Journal of accounting and economics, 50(2-3), 344-401.
Dichev, I. D. (2008). On the balance sheet-based model of financial reporting. Accounting Horizons, 22(4), 453-470.
Durocher, S., & Gendron, Y. (2014). Epistemic commitment and cognitive disunity toward fair-value accounting. Accounting and Business Research, 44(6), 630-655.
Feldmann, D. (2017). Financial Reporting of Investment Property under IFRS [in German]. PhD Thesis University of Zurich.
Filip, A., Hammami, A., Huang, Z., Jeny, A., Magnan, M., & Moldovan, R. (2017). Literature Review on the Effect of Implementation of IFRS 13 Fair Value Measurement.
Financial Accounting Foundation (FAF). 2017. Post Implementation Report of SFAS157: fair value measurement. Norwalk, CT: FASB.
Financial Accounting Standards Board (FASB). 2006. Statement of Financial Accounting Standard No. 157: Fair value measurements. Norwalk, CT: FASB.
Financial Accounting Standards Board (FASB). 2011. ASC820: Fair Value Measurements and Disclosures. Norwalk, CT: FASB.
Forghandoost Haghighi, K., Nasr, M. A. (2014). Discussion Paper Prelininary Views on Financial Statement Presentation. Tehran: Termeh press. (in Persian)
Georgiou, O., & Jack, L. (2011). In persuit of legitimacy: A history behind fair value accounting. The British Accounting Review, 43(4), 311-323.
Gietzmann, M. B., & Trombetta, M. (2003). Disclosure interactions: accounting policy choice and voluntary disclosure effects on the cost of raising outside capital. Accounting and Business Research, 33(3), 187-205.
Glover, S. M., Taylor, M. H., & Wu, Y. J. (2016). Current practices and challenges in auditing fair value measurements and complex estimates: Implications for auditing standards and the academy. Auditing: A Journal of Practice & Theory, 36(1), 63-84.
Green, K. Y. (2015). Can Fair Value Accounting Create a Cognitive Bias? The Effects of Recognized Level 3 Fair Value on Manager Selling Decisions. Virginia Commonwealth University.
Gwilliam, D., & Jackson, R. H. (2008, September). Fair value in financial reporting: Problems and pitfalls in practice: A case study analysis of the use of fair valuation at Enron. In Accounting Forum, 32(3), 240-259.
KPMG (2011). First Impressions: Fair value measurement. KPMG International Standards Group: Publication No. 314672.
Hammami, A., & Moldovan, R. (2016). Fair Value Measurement Disclosure by US Closed-End Funds. Google Scholar, SSRN, Working paper.
Hitz, J. M. (2007). The decision usefulness of fair value accounting–a theoretical perspective. European Accounting Review, 16(2), 323-362.
Hoitash, R., Hoitash, U., & Yezegel, A. (2017). The Effect of Accounting Reporting Complexity on Financial Analysts. Working paper, Bently University and Northeastern University.
Hopwood, A. G. (1987). The archeology of accounting systems. Accounting, organizations and society, 12(3), 207-234.
Hsu, P. H., & Lin, Y. R. (2016). Fair value accounting and Earnings Management. Eurasian Journal of Business and Management, 4(2), 41-54.
International Accounting Standards Board (IASB). 2011. International Financial Reporting Standard No. 13: Fair value measurements.
Iselin, M., & Nicoletti, A. (2017). The effects of SFAS 157 disclosures on investment decisions. Journal of Accounting and Economics, 63(2-3), 404-427.
Iselin, M., & Nicoletti, A. (2017). The effects of SFAS157 disclosures on investment decisions. Journal of Accounting and Economics, 63(2–3), 404–427.
Jermakowicz, E. K., & Gornik-Tomaszewski, S. (2006). Implementing IFRS from the perspective of EU publicly traded companies. Journal of international accounting, auditing and taxation, 15(2), 170-196.
Karami, Gh., Beik Boshrouyeh, S. (2018). Developing a Model for Implementing the Fair Value Approach in Iran: With Emphasis on Measurement. Journal of Accounting and Auditing Review, 24(4), 596-573. (in Persian)
Kvifte, S. S. (2008). Revisiting the Concepts: Time to Challenge the Asset‐Liability View. Australian Accounting Review, 18(1), 81-92.
Lachmann, M., & Herrmann, T. (2017). The decision usefulness of additional disclosures on fair value estimates for nonprofessional investors: One disclosure type does not fit all. Technical University Berlin Working Paper.
Landsman, W. R. (2007). Is Fair Value Accounting Information Relevant and Reliable? Evidence from Capital Market Research. Accounting and Business Research, Special Issue: International Accounting Policy Forum, pp: 19-30.
Lin, Y. H., Lin, S., Fornaro, J. M., & Huang, H. W. S. (2017). Fair value measurement and accounting restatements. Advances in accounting, 38, 30-45.
Liu, C., Yao, L. J., Hu, N., & Liu, L. (2011). The impact of IFRS on accounting quality in a regulated market: An empirical study of China. Journal of Accounting, Auditing & Finance, 26(4), 659-676.
Maroun, W., & van Zijl, W. (2016). Isomorphism and resistance in implementing IFRS 10 and IFRS 12. The British Accounting Review, 48(2), 220-239.
Martin, R. D., Rich, J. S., & Wilks, T. J. (2006). Auditing fair value measurements: A synthesis of relevant research. Accounting Horizons, 20(3), 287-303.
Moghadasi Nikjeh, M., Hejazi, R., Akbari, M., & Dehghan Dehnavi, M.A. (2017). Impact of Estimating Fair Values of Bank Loans Using the Approach of the International Financial Reporting Standards (Case Study: An Iranian Bank). Journal of Accounting and Auditing Review, 24(4), 597-621. (in Persian)
Müller, M. A., Riedl, E. J., & Sellhorn, T. (2015). Recognition versus disclosure of fair values. The Accounting Review, 90(6), 2411-2447.
Oxford Dictionary of English (2018). http://en.oxforddictionaries.com/english.
Palea, V., & Maino, R. (2013). Private equity fair value measurement: a critical perspective on IFRS 13. Australian Accounting Review, 23(3), 264-278.
Pandya, A. (2016). Resistance to IFRS 13-initial insights (Doctoral dissertation).
Pannese, D. & Delfavero, A. (2010). Fair Value Accounting: Affect On The Auditing Profession. Journal of Applied Business Research, 26(3), 43-50.
Peng, S., and Bewley, K. (2010). Adaptability to fair value accounting in an emerging economy: A case study of China's IFRS convergence‏. Accounting, Auditing & Accountability Journal, 23(8), 982 – 1011.
PriceWaterhouseCoopers LLP (2013). A Global Guide to Fair Value Measurements. Available at: www.pwc.com/...guides/pwc_fair_value_2013.pdf.
Rahmai, A., Taheri, M. (2017). Financial Loans Cost or Fair Value, Which One Has More Effect on Credit Loss of Banking System. Journal of Monetary and Banking Research,10 (33), 481-507. (in Persian)
Rashad Abdel‐Khalik, A. (2010). Fair value accounting and stewardship. Accounting Perspectives, 9(4), 253-269.
Richard, J. (2004). The secret past of fair value: Lessons from history applied to the French case. Accounting in Europe, 1(1), 95-107.
Riedl, E. J., & Serafeim, G. (2011). Information risk and fair values: An examination of equity betas. Journal of accounting research, 49(4), 1083-1122.
Ronen, J. (2008). To Fair Value or Not to Fair Value: A Broader Perspective. Abacus, Vol. 44, No. 2, pp: 181-208.
Saidin, S. Z., Badara, M. A. S., & Danrimi, M. L. (2014). The Effect of Acceptability and Enforceability of International Financial Reporting Standard (IFRS) on Global Accounting Standard Convergence. Mediterranean Journal of Social Sciences, 5(10), 295- 302.
Song, C. J., Thomas, W. B., & Yi, H. (2010). Value relevance of FAS No. 157 fair value hierarchy information and the impact of corporate governance mechanisms. The Accounting Review, 85(4), 1375-1410.
Stent, W., Bradbury, M., & Hooks, J. (2013). What firms’ discretionary narrative disclosures reveal about the adoption of International Financial Reporting Standards. Australian Accounting Review, 23(3), 252-263.
Sterling, R. (1975). Relevant Financial Reporting in an Age of Price Changes. Journal of Accountancy, pp: 42-51.
Sundgren, S., Mäki, J., & Somoza-López, A. (2018). Analyst coverage, market liquidity and disclosure quality: a study of fair-value disclosures by European real estate companies under IAS 40 and IFRS 13. The International Journal of Accounting, 53(1), 54-75.
Swait, N. J. (2016). IFRS 13: exploring decisions to early adopt or refrain from doing so (Doctoral dissertation).
Swait, N., Patel, A., & Maroun, W. (2018). Exploring the decision to adopt International Financial Reporting Standards early: The case of International Financial Reporting Standards 13. Journal of Economic and Financial Sciences, 11(1), a171, 1-12.
The U.S. Securities and Exchange Commission (SEC). (2008). Report and Recommendations Pursuant to Section 133 of the Emergency Economic Stabilization Act of 2008: Study on Mark-To-Market Accounting.
Van Zijl, W., & Maroun, W. (2017). Discipline and punish: Exploring the application of IFRS 10 and IFRS 12. Critical Perspectives on Accounting, 44, 42-58.
Wagenhofer, A. (1990). Voluntary disclosure with a strategic opponent. Journal of accounting and economics, 12(4), 341-363.
Wu, W., Thibodeau, N., & Couch, R. (2016). An Option for Lemons? The Fair Value Option for Liabilities during the Financial Crisis. Journal of Accounting, Auditing & Finance, 31(4), 441-482.
Zehri, C., & Abdelbaki, A. (2013). Does adoption of international accounting standards promote economic growth in developing countries? International Open Journal of Economics, 1(1), 1-13.
 
 
 
بررسی‏‌های حسابداری و حسابرسی
دوره 25، شماره 3
1397
صفحه 387-414

فایل ها

هم رسانی

ارجاع به این مقاله

آمار