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Findings from Singapore and Malaysia show reservations about IFRS adoption benefits, including foreign investment increases and equity cost reductions, while complex harmonising of principles-based fair value requirements erodes stakeholder confidence. A qualitative survey uses institutional and stakeholder theory. The study then proposes further IAS 12 Income Taxes research using a test questionnaire addressing practitioners’ challenges in Australia.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/the-adoption-of-ias-12-income-taxes-convergence-or-divergence-with-local-accounting-standards-in-selected-asean-countries/159732/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/the-adoption-of-ias-12-income-taxes-convergence-or-divergence-with-local-accounting-standards-in-selected-asean-countries/159732.png","ImageObject",300,407,{"name":92,"@type":93},"Bill Black","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-01","2026-08-29",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",15,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What does the article investigate about IFRS and local standards?","Question",{"text":113,"@type":114},"It examines the socio-economic impact of adopting and converging IFRS with local accounting standards in selected ASEAN countries, with a focus on Singapore and Malaysia in stage one.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What reservations did respondents express regarding IFRS adoption benefits?",{"text":118,"@type":114},"Respondents questioned cited benefits such as increased foreign investment and equity cost reductions, and stakeholder confidence was weakened by complex harmonising of principles-based fair value requirements.",{"name":120,"@type":111,"acceptedAnswer":121},"How is IAS 12 Income Taxes treated in the research design?",{"text":122,"@type":114},"Stage two proposes further research on IAS 12, using a prepared test questionnaire to assess the extent of IAS 12’s challenges for practitioners.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},159732,1788021981,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":130,"read_time":145,"preview_page_count":4},24189269381491,"https://ap-avatar.wpscdn.com/avatar/160000cf11732dd8392?x-image-process=image/resize,m_fixed,w_180,h_180&k=1788146458752108895","The adoption of ‘International Accounting Standard (IAS) 12 Income Taxes’: Convergence or divergence with local accounting standards in selected ASEAN countries?  \nPrem W.S. Yapa 1, Diane Kraal2 and Mahesh Joshi3  \nAbstract  \nThis article concerns inter-disciplinary research on questions about the socio-economic impact of the adoption and convergence of International Financial Reporting Standards (IFRS) with local standards in selected countries. The article approaches the research in two stages. The first stage concerns the findings and analysis relating to the general impact of the IFRS standards on Singapore and Malaysia. Findings reveal that respondents expressed reservations about cited IFRS adoption benefits, including increases of foreign investment and equity cost reductions; and stakeholder confidence has been eroded by the complex harmonising of principles-based ‘fair value’ requirements. Debate continues on the application of IFRS regarding standards on financial instruments, real estate and agriculture. Our qualitative research methodology of survey uses institutional theory and stakeholder theory for analysis.  \nThe second stage posits further research for IAS12 Income Taxes, given accounting standards are one starting point for tax compliance, and that income taxes form part of financial statements. A test questionnaire was prepared and industry respondents were asked questions on the extent ofIAS12’s challenges to practitioners in Australia.  \n.  \nKeywords: IAS 12, income tax, IFRS, Singapore, Malaysia  \nJEL Code(s): M40  \n1 RMIT University, Australia.  \n2 Monash Business School, Monash University, Australia  \n3 RMIT University, Australia  \nYapa, Kraal & Joshi | The adoption ofIAS 12 Income Taxes’: Convergence or divergence  \n1. Introduction  \nThis article concerns one stage of a two-stage qualitative study of the socio-economic impacts of the convergence of International Financial Reporting Standards (IFRS) with local accounting standards on companies in selected Association of South East Asian Nations (ASEAN) . The purpose of this article is two-fold. Its first purpose is to present the methodology, findings, analysis and conclusions from the Stage one research, regarding the socio-economic impacts of the convergence of IFRS with local accounting standards on the ASEAN countries of Singapore and Malaysia.  \nAccounting standards are one starting point for tax compliance and income taxes form part of financial statements, including tax-related note disclosures. Thus, the second purpose is the positing of a future research plan for a specific accounting standard, International Accounting Standard (IAS) 12: Income Taxes and the extent of its convergence and/or divergence from the aims of the International Accounting Standards Board (IASB) for equivalent accounting standards in selected ASEAN countries and Australia. Stage two of the research project (and related preliminary interview findings) is positioned at end of this article, which follows the Stage one findings and conclusion. IAS 12 has been selected based on feedback from respondents in Stage one.  \nASEAN countries4 are being assisted by major development financing institutions, including the World Bank and the Asian Development Bank, mainly due to the development of global capital markets, the growth of multi-national enterprises and the Asian financial crisis in the mid-1990s (Briston 1990, 195-216). As investors and creditors require up-to-date financial statements and reports, the professional accounting practices of ASEAN countries are being increasingly scrutinised. ASEAN countries are thus under pressure to adopt a uniform set of accounting standards. Convergence of local accounting standards with IFRS is now one of the rising concerns among stakeholders with interests in ASEAN countries (Yapa 2012) .  \nIn June 2011 a forum was held in Bali, Indonesia with the theme of,‘Towards One Global Standard: the challenges and opportunities of IFRS adoption i","cbCaijwy98ScAX3e","https://ap.wps.com/l/cbCaijwy98ScAX3e","pdf",221926,22,"English","# Abstract\n# Introduction\n## Stage one: Singapore and Malaysia\n## Stage two: IAS 12 Income Taxes research\n## Context for IFRS convergence in ASEAN","[{\"question\":\"What does the article investigate about IFRS and local standards?\",\"answer\":\"It examines the socio-economic impact of adopting and converging IFRS with local accounting standards in selected ASEAN countries, with a focus on Singapore and Malaysia in stage one.\"},{\"question\":\"What reservations did respondents express regarding IFRS adoption benefits?\",\"answer\":\"Respondents questioned cited benefits such as increased foreign investment and equity cost reductions, and stakeholder confidence was weakened by complex harmonising of principles-based fair value requirements.\"},{\"question\":\"How is IAS 12 Income Taxes treated in the research design?\",\"answer\":\"Stage two proposes further research on IAS 12, using a prepared test questionnaire to assess the extent of IAS 12’s challenges for practitioners.\"}]","The adoption of IAS 12 Income Taxes - Convergence or divergence with local accounting standards in selected ASEAN countries | PDF",55]