While searching for papers on “the impact of IFRS’s adoption on corporate governance”, I went across some papers related to “ impact on information quality”

 1 - Does Mandatory IFRS Adoption Improve Information Quality in Low Investor Protection Countries? Evidence from France, Sweden and Switzerland. By Nurul Houqe & Samuel Easton

2- Does Mandatory IFRS Adoption Improve the Information Environment? By Joanne Horton, George Serafeim & Ioanna Serafeim.

3- The incidence of earnings management on information asymmetry in an uncertain environment- Some Canadian evidence. By Denis Cormier.

4- THE EFFECT OF IFRS, INFORMATION ASYMMETRY AND CORPORATE GOVERNANCE ON THE QUALITY OF ACCOUNTING INFORMATION, by Hui-Sung Kao & Tzu-Han Wei

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2224278

http://www.hbs.edu/faculty/Publication%20Files/11-029_0a1b3306-189e-43ba-84ef-bedf7aca3547.pdf

http://www.cifo.uqam.ca/publications/pdf/2014-01.pdf

http://www.aessweb.com/pdf-files/aefr%204(2),%20226-256.pdf

Hamed,

Many thanks for these insights but I'm keen to see evidence that converged\revised IFRS\IAS are better quality than previously and as a result have produced better financial statements or have better market reaction in terms of stock prices. Most of these studies have not taken into account that IFRS has also changed. How do we tell that the current findings are due to converged \revised standards and not otherwise?

Hello Erick, I wonder if you are looking for these kind of information: really, IFRS convergence has hapenned in most of the countries and/or regions, because the finantial markets were searching for a set of rules that turned financial information similar everywhere in the world - only in these condition the market of capital can work in a global way. The question of the change on IFRS is because these sets of rules are based on a system of continuous improvement by attempting to adjust rules to the real world econmic issues or economic problems.

Maybe you can verify these on IFRS Foundation website. On the other hand there is a lot of literature wich indicates or refers that the global harmonization is directly related with the question of funcional aspects on capital markets and stock exchanges in a globalized way.

Ideally, it is important to assess whether the amended version of a particular IFRS is better than its previous version as the IASB amends existing standards based on its conceptual framework, which specifies certain qualities of accounting information. But the methodological challenge of assessing this empirically is huge.

Research on whether the revision of a particular IFRS improves financial reporting quality is sparse. The following paper examines whether goodwill impairment reflects underlying economic reality better than goodwill amortization in Australia.

Chalmers, K.G., Godfrey, J.M., & Webster, J.C. (2011). Does a goodwill impairment regime better reflect the underlying economic attributes of goodwill? Accounting and Finance, 51, 634-660.

Thanks for your insights. Ill check up the resource you have indicated

Erick

Revisions to IFRS and convergence with local GAAP have been found to produce winners and losers with respect to financial reporting quality. One consistent group of losers appears to be composed of lenders, who avoid using accounting numbers in bond covenants and syndicated loan agreements because of the IASB's emphasis on fair values in its framework and in individual pronouncements. 

The IASB has issued at least 13 individual standards that replace traditional historical cost accounting methods with rules that recognize assets and liabilities at fair value.Fair value measurements are incorporated in IAS 16 (Property, Plant and Equipment), IAS 22 or IFRS 3 (Business Combinations), IAS 36 (Impairment of Assets), IAS 37 (Provisions, Contingent Liabilities and Contingent Assets), IAS 38 (Intangible Assets), IAS 39 and IFRS 9 (Financial Instruments: Recognition and Measurement), IAS 40 (Investment Property), IAS 41 (Agriculture), IFRS 2 (Share-based Payment), IFRS 4 (Insurance Contracts), and IFRS 5 (Noncurrent Assets Held for Sale and Discontinued Operations). 

Ball, Li & Shivakumar (2014) investigate the effect of mandatory IFRS adoption on debt contracting in a sample of new debt issues from 2001 to 2010 in 22 IFRS-adopting countries and 21 non-IFRS-adopting countries. (Canada was among the non-adopting countries during this period.) They report a significant reduction in the use of accounting-based debt covenants and increase in non-accounting-based covenants following mandatory IFRS adoption. They do not observe such effects in non-adopting countries. Arguably, then, financial reporting quality in lending markets was reduced by IFRS revisions.

Yes, they do affect financial reporting quality. However, I believe US GAAP has a bigger impact since it is more comprehenisve, covering areas that are not covered by IFRS.

Yes , more real and effect on financial reporting since USA started following IFRS since its global standards 

In our article "L’impact de l’adoption des IFRS sur les sociétés cotées à la bourse de Casablanca: une étude exploratoire", we found that there is no significant difference between the financial statements prepared in accordance with Moroccan standards and those prepared in accordance with IFRS

Khalifa,

Thanks for your contribution.Is it possible to have your paper in English.Im also reviewing impact of IFRS adoption across Africa to understand why in some cases there are significant differences between IFRS and local standards. In your case has Morocco fully adopted IFRS or it has converged its standards with IFRS?

Sorry, but I have not published my article in English.But it was from 2007 that has been most transition to IFRS since it is from this year that the authority of financial markets and the Stock Exchange have increased their efforts to control publications consolidated accounts of Moroccan enterprises and encouragement of transition to IFRS .

Dear Dr. Erick,

In general, IFRS / IAS affect financail reporting quality to different extents depending on type of research, methodology and variables used, etc.  Considerable empirical research discuss the effect of IFRS on financial reporting quality. You may want to check the most recent studies shown on Google Scholar, preferably the ones published in Q1 academic journals. 

It is important question; diffidently, the IFRS/IAS has impact on fifinancial reporting quality. The similar question is:

Does the IFRS/IAS have impact on capital budgeting decisions?  

There are evidence that convergence into IFRS affect the quality of financial reporting. For example Kamran Ahmed, Keryn Chalmers and Hichem Khlif (2012) and Ann Tarca (2012).