Purpose This paper aims to examine the influence of firm characteristics on harmonisation of companies listed on the Egypt, Morocco and Tunisia Stock Exchanges. Design/methodology/approach This study uses a checklist based mainly on the International Financial Reporting Standards (IFRS). Findings The findings of the study are 6that the level of compliance with IFRS was higher in 2010 than in 2005. Multiple regression analysis indicates that the level of compliance with IFRS increases with company size, institutional ownership, industry and language of disclosure. Research limitations/implications The findings of this study suggest that both institutional- and firm-level forces influence the harmonisation process. Originality/value This study contributes to the literature on accounting harmonisation in the context of North Africa.

This study compares the contextual factors (culture, political, legal, economic system, and stock exchanges) in three North Africa countries (Egypt, Morocco, and Tunisia). The contextual factors of these countries are very similar being Islamic culture and French law. These countries have similarities in their recent histories. They were occupied by European countries which resulted in English and French languages being spoken in this region. Dictatorial governments (regardless of the types of governments -socialist or otherwise) have also controlled these countries for considerable periods of time since independence. In line with international society, an openness policy has been adopted and many reforms have been made in the stock exchange of these countries. However, much work remains to be done. Although contextual factors are similar, each country is in a slightly different place today in regards to economic and capital markets' development. Policy-makers can learn from the experiences of these three NA countries as the obstacles and backgrounds of these three countries are similar. This is the first accounting paper of which we are aware that studies these three NA countries.

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