IFRS in Greece: Readiness, barriers, usefulness

Abstract

The purpose of this dissertation is first to enhance understanding about the past and current perception of IAS/IFRS in Greece, and second to build a cornerstone for future studies. Issues such as the readiness of the companies for the transition, the usefulness of the IFRS, the main barriers until the adoption, how did Greece and up by using them, are analyzed. These issues are examined and elaborated from previous studies (Financial press, Academic literature, and surveys from auditing companies) that have taken place the last years in Europe and from research (interviews) that I have conducted in listed companies, and auditing firms. The main conclusion is that the Greek companies are unprepared for the adoption of the IFRS and little has been done for a normal transition. Many obstacles (computerization defects, conservatism and taxation confusions) even today prevail, that are responsible for the delay of the IFRS adoption.