Impact of Accounting Traditions, Ownership and Governance Structures on Financial Reporting by Italian Firms

In: Review of Pacific Basin Financial Markets and Policies, Band 19, Heft 1, S. 1650001

Abstract

Institutional differences across countries present special challenges to achieve uniformity or at least harmony in financial reporting across countries. We evaluate in this paper how accounting traditions, ownership and governance structures of Italian companies affect implementation of the European Union mandated International Financial Reporting Standards (IFRS) by Italian companies. This evaluation will enable investors, especially international investors, to have a better understanding of financial reporting by Italian companies and it will also highlight the problems and issues facing Italian companies to implement IFRS.