IFRS ADOPTION AND ANALYSTS FORECASTS ACCURACY IN ROMANIA: A CASE STUDY

Authors

• Mihaela IONASCU — Academy of Economic Studies

Abstract

This paper seeks to explore the impact of International Financial Reporting Standards (IFRS) adoption in Romania on analysts’ forecasts accuracy by means of a case study on one of the best performers on the Romanian market: OMV Petrom SA. The IFRSs are considered high quality accounting standards that are expected to increase transparency and decrease forecasts errors. Accordingly, this paper analyzes the characteristics of forecasts accuracy of earnings computed both under IFRS and local General Accepted Accounting Principles (GAAP). The results show that IFRS based forecasts tend to be more accurate, confirming the international trends.

Keywords: analysts’ forecast accuracy, IFRS adoption in Romania, case study, OMV Petrom SA

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APA: Mihaela IONASCU (2012). IFRS ADOPTION AND ANALYSTS FORECASTS ACCURACY IN ROMANIA: A CASE STUDY. Internal Auditing & Risk Management, Vol. 28, No. 28, pp. 31-38.

BibTeX:

@article{mihaelaionascu2012440,
  title = {IFRS ADOPTION AND ANALYSTS FORECASTS ACCURACY IN ROMANIA: A CASE STUDY},
  author = {Mihaela IONASCU},
  journal = {Internal Auditing & Risk Management},
  year = {2012},
  volume = {28},
  pages = {31----38},
  doi = {}
}

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