The Ifrs' Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information


  • Gabriela Mangu (Giurea) Valahia University Târgoviște
  • Georgiana Janina Soare Valahia University Târgoviște
  • Emanuel Catalin Ciobota Valahia University Târgoviște


IFRS; financial reporting; information asimmetry; IASB; fair value


The mandatory adoption of IFRS represents an exogenous change in information asymmetry. As IFRS adoption is determined at the individual country level, it is less likely to reflect the endogenous preferences of a single entity. The asymmetry information redundance arises from three potential causes: for some countries, the IFRS increases accounting awareness substantially by providing additional reporting guidelines, such as segment reporting; it considerably increases comparability between countries, which facilitates monitoring and benchmarking between entities and  produces a number of contemporary changes related to the implementation of new standards that have helped to reduce information asymmetry in their adoption. The IFRS’ conceptual content confirms that there is a convergence between the objectives and guidance of accounting standards, on the one hand, and the objectives and guidance of corporate governance requirements, on the other hand.

Author Biographies

Georgiana Janina Soare, Valahia University Târgoviște

Ph. D. student

Emanuel Catalin Ciobota, Valahia University Târgoviște

Ph. D. student


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How to Cite

Mangu (Giurea), G., Soare, G. J., & Ciobota, E. C. (2023). The Ifrs’ Impact on Financial Reporting as well as the Asymmetry of Financial and Accounting Information. Acta Universitatis Danubius. Œconomica, 19(1), 111–129. Retrieved from



Economic Development, Technological Change, and Growth

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