IFRS adoption in ASEAN countries

Abstract

Purpose – The purpose of this paper is to examine the perceptions of professional accountants from three countries from the Association of South East Asian Nations (ASEAN) in order to evaluate their perceived benefits associated with the adoption of International Financial Reporting Standards (IFRS) in their respective nations as well as the implications of these standards for the accounting and auditing professions in their country of practice. It also explores the extent to which the adoption of IAS/IFRS accounting standards have been supported by the state, media and local professional accounting bodies. Design/methodology/approach – The study uses survey approach to seek perceptions of professional accountants in these three countries with a view to understanding their perceptions regarding the socio-economic issues related to the adoption of the IFRS and role of social institutions. The study also uses appropriate statistical tests for interpretation of the data. Findings – The analysis of the data shows that accounting professionals in Singapore, Malaysia and Indonesia strongly supported IFRS adoption; their opinions did not differ significantly by place of training, experience or professional qualifications. Respondents agreed that their countries benefited economically from harmonisation with global accounting standards. The surveyed accountants believed that pressure from international agencies was instrumental in the adoption of IFRS in the region. The findings also show that governments, the media and professional accounting bodies have supported the adoption, communication and application of IFRS. Originality/value – This is the first study examining the role of social and professional institutions in the adoption of the IFRS and one which also provides an inter-country comparison of accountant’s perspectives on adoption of the IFRS among three ASEAN countries.

International financial reporting standards convergence in the Indian context: Insights from practitioners

“…The overall response rate of the sample interviewed was 37.64%, which is in line with similar studies using interview methodology in emerging countries (Bozkurt et al, 2013; Joshi et al, 2016; Nurunnabi, 2015a, 2015b, 2017; Phan & Mascitelli, 2014). Table 2 shows profile of the respondents were practicing chartered accountants in a company or a in an audit firm where two‐thirds of the respondents had more than 10 years of experience.…”

The Effect of Adoption of Ifrs Based Accounting Standards: Indian Evidences of Enhanced Value Relevance and Uniformity

“…The challenges of adoption of IFRS based system in developing economies have been an important area of research (Sharma et al, 2017). The perception of professionals about adoption of IFRS in Singapore, Indonesia and Malaysia are elaborated in (Joshi et al, 2016). As an extension of research in the same line (Phan et al, 2018) have explained the important factors that had persuaded Vietnam to adopt IFRS based standards.…”

Challenges and Barriers in Convergence of IND_AS with IFRS: A Perspective Investigation on Indian Professionals and Officials

“…For the third research question, independent sample t-test and Levene's test were used. Similar experiments was carried out to determine variance amongst replies to statements related to gender, experience, and qualifications (Joshi, PL, Bremser, WG, and Al-Ajmi, J., 2008) (Joshi, M., Yapa, P., and Kraal, D., 2016). In order to know whether professionals and officials have comparable views on the issue of consciousness and readiness to handle difficulties in IFRS implementation process, a one-way ANOVA was performed to create inferences about population mean.…”