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|Title: ||The Interpretation of Verbal Probability Expressions Used in the IAS/IFRS: Some Portuguese Evidence|
|Authors: ||Teixeira, Cláudia|
Fialho Silva, Ana
|Keywords: ||verbal probability expressions|
|Issue Date: ||2009|
|Publisher: ||Instituto Politécnico do Cávado e do Ave|
|Citation: ||Teixeira, C. e Fialho Silva, A. (2009): “ The Interpretation of Verbal Porbability Expressions Used in the IAS/IFRS: Some Portuguese Evidence”, Tékhne- Revista de Estudos Politécnicos, nº12, Dezembro, pp.57-73.|
|Abstract: ||One of the main arguments in favour of the adoption and convergence
with the international accounting standards published by the IASB (i.e.
IAS/IFRS) is that these will allow comparability of financial reporting across
countries. However, because these standards use verbal probability expressions
(e.g. “probable”) they require professional accountants to interpret and classify
the probability of an outcome or event taking into account those terms and
expressions and to best decide in terms of financial reporting.
This paper reports part of a research on the interpretation of verbal probability
expressions used in the IAS/IFRS by the auditors registered with the Portuguese
Securities Market Commission (CMVM). This analysis was made “in isolation”,
that is, without considering a context.
The findings show that these terms and expressions are differently perceived by
the auditors. Thus the paper provides evidence that suggests that it is fair to
review the use of verbal probability expressions in accounting standards,
namely the IAS/IFRS.|
|Appears in Collections:||CEFAGE - Publicações - Artigos em Revistas Nacionais Com Arbitragem Científica|
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