How Has IFRS Evolved?
本文全面展示了国际财务报告准则（IFRS）的演变证据，发现其指导、例外和长度逐年增长，但国际会计准则理事会仍坚持原则导向，并因应各方需求而发展。
SYNOPSIS This paper presents a comprehensive set of evidence on the evolution of International Financial Reporting Standards (IFRS). It reports that IFRS grew in guidance, exceptions, and length over the years through the issuance of new IFRSs to replace International Accounting Standards and Interpretations, and through IFRS amendments. Yet, the International Accounting Standards Board (IASB) and the Interpretations Committee (Committee) maintained a principles-based approach to standard-setting. Consistent with this, the IASB specified the underlying principles and provided guidance in successive IFRSs to help preparers apply them. Further, the Committee and the IASB declined to develop Interpretations and amend IFRS, respectively, in response to constituent requests when they believed IFRS already provided sufficient guidance. Finally, the growth in IFRS guidance, exceptions, and length was due to constituent demands during the due process, convergence projects, the Global Financial Crisis, interest rate benchmark reforms, COVID-19, unclear and inconsistent IFRS requirements, and insufficient guidance. Data Availability: All data are publicly available and the sources of data are mentioned in the Online Appendix. JEL Classifications: D71; G38; M41.