英國在2013年提出新政策－委員會即將發布新UK GAAP(FRS)取代舊UK GAAP，並計畫於2015年正式實施。本研究認為英國此項政策的發布，對企業來說，是一個轉換會計準則之契機，且對非公開發行企業在此情況下轉換會計準則為IFRS之動機感到好奇。此外，近年有許多關於盈餘品質之研究，探討各項因素對財務報表盈餘品質之影響。本論文參考過去此類文獻，並針對英國在宣布至正式實行新政策的這段時間內，企業轉換會計準則與盈餘管理是否具有關聯進行分析。
　　新法規於2013年提出，且在2015年正式實施。若企業在2014年已決定採用IFRS並作好準備，則可於2014年提前轉換會計準則；除此之外，企業也有可能是在2015年法規正式實行後才決定轉換IFRS。據上所述，我們將樣本選取期間設定為2014年及2015年兩年，選取在這兩年內轉換會計準則為IFRS之中小型非公開發行公司，及其配對企業作為樣本，並依年份分開執行迴歸分析。本研究跟隨：Cameran, Campa, and Pettinicchio (2012)之研究論文，採用DeFond and Park (2001) model，以異常營運資本的應計數(abnormal working capital accruals, AWCA)衡量企業盈餘管理的程度。迴歸結果顯示：2014年先轉換為IFRS之非公開發行企業有較好的盈餘品質，而2015年才轉換會計準則則對盈餘品質較無影響。
　　除了使用異常營運資本應計數外，本研究還藉由公司即時認列損失之情形衡量公司之盈餘管理，在此部分本論文仍是跟隨：Cameran et al.(2012)之研究方法。我們分別將當年轉換會計準則為IFRS之企業及前後年皆採用GAAP之企業之樣本分開執行迴歸分析，且比較兩組樣本變數的係數差異是否顯著。迴歸結果顯示企業轉換為IFRS與否並不影響即時認列損失之情形。
　　此外，在作盈餘管理相關之分析前，本文先針對何項特性會影響非公開發行公司從英國當地的一般公認會計原則(UK GAAP)轉換為國際會計準則(IFRS)進行研究。此部分研究方法是參考過去文獻Matonti and Iulian (2012)對義大利非公開發行企業之分析。研究結果顯示，為四大會計師事務所查核，以及規模愈小，將容易轉換會計準則為IFRS。
　　事實上，非公開發行公司在全球經濟發展上扮演重要的角色，然而大多數的文獻仍皆致力於研究上市櫃公司，探討此類型企業的研究相對較少。此外，英國公布新法規是近期發生的事件，目前比較沒有與此法規相關議題之文獻。本論文的貢獻在於能藉由文獻整理與統計分析，以協助投資人與一般企業更了解非公開發行公司，及其受英國新法規之影響。相信本研究在會計上能具有一定程度的貢獻。

UK GAAP, a set of accounting systems for the UK Financial Standards Committee, is a local regulation in the UK. Most of the domestic private companies are subject to this accounting standard. In 2013, the committee announced that the new UK GAAP (FRS) will replace the old UK GAAP and will be implemented in 2015. This paper aims to investigate whether there will be earnings management for private companies that choose to convert from UK GAAP to IFRS in 2014 and 2015. In addition, we explore key firm characteristics which affect the private companies’ choices of accounting principles.

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