Higher Education Affects Opinions On The Adoption Of International Financial Reporting Standards In India

Abstract

The research identified seven variables that contribute to the delay in IFRS adoption in India after data analysis using factor testing. statistical methods according to IFRS and Indian GAAP, we discovered a difference in profitability; nevertheless, this difference is not statistically significant, and in most situations, we are able to satisfy the null hypothesis. Profitability metrics vary, even if statistical methods support the null hypothesis. Even if the percentage difference is small, these variations are significant. As a result of the convergence process, private sector and financial sector enterprises are being hit particularly hard.  There are certain areas where Indian accounting standards, IFRS, and Ind AS diverge. Ind AS is the IFRS converged form used in India. Aside from a few of things, the table of differences reveals that almost all provisions are identical to IFRS. Comparing IFRS with Indian GAAP reveals some significant differences.