Abstract
This study examines accounting standards convergence and International Financial Reporting
Standards adoption with particular emphasis on their effects on financial statement comparability
among listed firms. The motivation for the study arises from the increasing globalization of capital
markets and the growing demand for transparent, consistent and comparable financial
information to support investment and regulatory decisions. The study adopts an ex post facto
research design and relies on secondary data obtained from the audited annual reports and
financial statements of selected listed firms over the period 2019 to 2024. Financial statement
comparability is measured using accounting-based comparability indices, while IFRS adoption
and accounting standards convergence serve as the key explanatory variables. Firm size and
leverage are included as control variables to account for firm specific characteristics. Data are
analyzed using descriptive statistics and multiple regression techniques to test the formulated
hypotheses at the five percent level of significance. The findings reveal that IFRS adoption has a
significant positive effect on financial statement comparability, indicating that the use of a
common reporting framework enhances consistency and transparency in financial reporting.
Accounting standards convergence is also found to significantly improve cross firm and cross
country comparability. The study concludes that while accounting standards convergence and
IFRS adoption have contributed meaningfully to improved financial statement comparability, their
effectiveness depends largely on enforcement quality and institutional support. The study therefore
provides useful insights for regulators, policymakers and practitioners seeking to strengthen the
comparability of financial reporting in emerging market environments.