The relevance and applicability of IAS in Madagascar: the perception of accounting practitioners

Abstract

This article reports the result of a survey carried out on the importance and applicability of International Accounting Standards (lAS, now known as International Financial Reporting Standards, IFRS) Madagascar. This article uses IFRS to cover the use of international standards both before and after the reform of the 'International Accounting Standards Committee in 2001. The results of the survey show that IFRS are both totally applicable and also very important to Madagascar. An important challenge before the accounting bodies and professionals of Madagascar is addressing 20 issues not dealt with, in the present accounting plan and incorporating the same in the revised accounting plan.