Academic study on the costs and benefits of IFRS 15 adoption
29 Nov, 2023
The European Financial Reporting Advisory Group (EFRAG) has published the results of academic study on the effects of the adoption of IFRS 15 'Revenue from Contracts with Customers' on preparers and users of financial statements.
The study Intended and Unintended Consequences of IFRS 15 adoption focused on addressing the following broad research questions:
- How do regulatory changes impact financial reporting in terms of the relevance and usefulness of the information produced for users?
- To what extent have management control systems changed as a result of the IFRS 15 implementation and thereby affected the decision-making process of entities?
The findings of the study shed light on the costs (both one-off and ongoing costs) faced by preparers as well as the benefits (for both preparers and users) of implementing the standard.
Please click to access the study on the EFRAG website.
