School of Business and Management

Aigerim Umbetbayeva

 Aigerim Umbetbayeva


Tel: +44 (0)20 7882 xxxx
Location: Mile End, Bancroft Building, Room 4.23

1st Supervisor: Dr Suki Sian
2nd Supervisor: Professor Sean McCartney

Project Title:

"Financial reporting framework in a developing world"

Project Description

Since the integration of business and financial markets and trade internationalisation have a growing impact on economies, it is important to prepare financial information which satisfies financial statement users needs in international scope (Zeghal and Mhedhbi, 2006). The primary function of accounting is to present information in an understandable manner. That's why, in some ways, financial statements which are prepared according to national standards may even be an obstacle for investors and businesses as a whole.

According to research, development of accounting standards has been long discussed in recent years (Zeghal and Mhedhbi, 2006). Particularly, the main principles of adopting international accounting standards by emerging economies have always been a subject of a long debate.  This study will indicate whether it is appropriate to implement and follow the internationally recognised path of financial reporting standards or modified version considering local realities would provide desirable outcomes to the developing countries. Moreover, while last 10 years most developing countries adopted IFRS, an increasing concern about appropriateness and relevance of international standards to emerging countries also would be considered.

Journal Articles:

  • Proceedings of the International Conference "Industrial and Innovative Development of the economy: sustainability, growth, and diversification". Ministry of Education and Science of the Republic of Kazakhstan, 2012.
  • Proceedings of the International Conference "The scientific debate: Issues of Economics and Management", Moscow, 2013.
  • The article on "The pension system of the Republic of Kazakhstan" in the ┬źHerald of the Kazakh-British technical university┬╗, Almaty, Kazakhstan, 2013.