Benefits and costs of IFRS implementation in the opinion of Polish certified auditors
Benefits and costs of IFRS implementation in the opinion of Polish certified auditors

Summary/Abstract: The article presents the results of a survey conducted among a carefully selected group of Polish certified auditors. The purpose of the study was to determine whether auditors, during the audit of financial statements, perceive certain costs and benefits resulting from the fact that the audited statements were prepared in accordance with IFRS. This survey was undertaken to demonstrate that the cost-benefit analysis of IFRS, after more than a decade of their use in Polish practice, could provide important observations for future legislative changes in this area. The study shows that, thanks to the implementation of IFRSs, auditors gain the benefit of lower audit workloads. At the same time, however, they identify six reasons why the audit process is prolonged, requiring special organization, prior special preparation and, as a result, higher auditing costs.

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