A Half-Century of International Accounting Standards (IAS/IFRS): Assessing the Mandatory Adoption, Impact, and Morocco's Position in the Convergence Process

Abstract

Since its establishment in 1973, the International Accounting Standards Committee (IASC), which became the International Accounting Standards Board (IASB) in 2001, has developed and published international accounting standards, initially known as IAS and later as IFRS. After fifty years, 87% of countries, including Morocco, mandate the full or partial adoption of IFRS. This paper provides a brief overview of the history of IFRS, focusing on three key areas: the global extent of adoption and its main determinants, the consequences of adoption, and the role of IFRS in Morocco's accounting standardization. The findings suggest that IFRS adoption is influenced by factors such as reliance on international financial institutions, economic openness, professional expertise, etc. Furthermore, IFRS adoption enhances the quality of accounting information and positively impacts macroeconomic indicators. While Morocco has partially adopted IFRS for banks, it is currently undertaking a major project to align its accounting practices with IFRS standards.