An Exploratory Study of International Financial Reporting Standards (IFRS) from a Christian Perspective

Abstract

More than 140 international jurisdictions, not including the United States, have standardized the use of International Financial Reporting Standards (IFRS). Secular research on IFRS focuses on its external goods, which has so far generated mixed results. This paper evaluates IFRS from a Christian perspective, looking at its principles-based nature and ability to produce internal goods. Internal goods facilitate the rationality and responsibility of accounting practices that are crucial in achieving the qualitative objective of financial reporting.