International harmonization and national particularities of accounting

Phuong, Nguyen Cong; Nguyen, Tran Dinh Khoi

doi:10.1108/18325911211258371

Cited by 28 publications

(34 citation statements)

References 22 publications

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“…In this regard, Judge et al (2010), Zeghal andMhedhbi (2006) and Ritsumeikan (2011) found a strong positive and significant association between educational levels and IFRS adoption. Furthermore, several authors have argued that qualified accounting professionals, as well as professional training, are key ingredients for effective implementation of IFRS in developing countries (Phuong & Nguyen, 2012;Muniandy and Ali, 2012;Albu et al, 2011;Perumpal et al, 2009). Zeghal and Mhedhbi argued that the adoption of IFRS requires a high level of education, competence, and expertise, to be able to understand, interpret, and make use of the standards.…”

Section: Normative Isomorphismmentioning

confidence: 99%

Why Do African Countries Adopt IFRS? An Institutional Perspective

Boolaky¹,

Tawiah

Soobaroyen

2020

Int. J. Acc.

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We examine the institutional drivers of International Financial Reporting Standards (IFRS) adoption in Africa. The study covers all 54 African countries and relies on data from 2010 to 2015. Our results support the neo-institutional theoretical predictions that coercive, mimetic, and normative isomorphism influence IFRS adoption in Africa, although the circuits of isomorphic pressures differ from previous studies investigating adoption at the worldwide level and in emerging economies. Specifically, we find evidence of the influence by the World Bank and International Monetary Fund on African countries made subject to the Report on Observance of Standards and Codes — Accounting and Auditing program of assessment. We also found that the presence of global audit firms and the years of membership in the International Federation of Accountants are strongly associated with a country’s decision to adopt IFRS. Also, countries with a more structured and active professional accounting organization (PAO) are more likely to adopt IFRS. Our findings provide insights into the significant role played by local PAOs in the promotion of IFRS. Furthermore, we provide empirical evidence that the nature of the isomorphic pressures in Africa is different from those suggested in prior studies, reinforcing the view that IFRS adoption is primarily driven by social and political dimensions, rather than the economic dimension usually professed by IFRS proponents.

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Section: Normative Isomorphismmentioning

confidence: 99%

Why Do African Countries Adopt IFRS? An Institutional Perspective

Boolaky¹,

Tawiah

Soobaroyen

2020

Int. J. Acc.

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“…Based on the theoretical background (Agency theory and Corporate Governance theory) and previous studies on the impacting factors when applying IFRS in the range of enterprises (Murphy, 1999;Zeghal & Mhedhbi, 2006;Iwona, 2012;Phuong & Nguyen, 2012;Akinyemi, 2012;Phan et al, 2014;Ajit et al, 2015). These factors were the size of enterprises, leverage, audit quality, the investment of foreign, etc.…”

Section: The Research Modelmentioning

confidence: 99%

Factors Affecting Enterprises that Apply the International Financial Report Standards (IFRS): A Case Study in Vietnam

Nguyen¹,

Le²,

Dao³

et al. 2020

JAFEB

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In the global trend toward economic integration, Vietnamese enterprises desire to attract investment and increase competitiveness in the global market, so they have been required to provide transparent, high-quality financial reports following the International Financial Reports Standards (IFRS). Based on the roadmap drawn by the Vietnam Ministry of Finance, the foreign-invested enterprises, listed enterprises and state-owned enterprises will be applying IFRS in 2030. However, some enterprises in Vietnam have applied IFRS in the presentation of financial statements at the request of related parties for a while. The main research objective of this paper focused on examining the factors affecting the implementation of IFRS in Vietnamese enterprises through descriptive statistics tools, Cronbach's Alpha testing, EFA and logistics regression analysis with the sample collected from 254 Vietnamese enterprises. The methodology in this research was the mixed qualitative and quantitative method. The results show that the higher the profitability, debt ratio and firm size of the enterprise, the more likely it is to apply IFRS. From the results of this study, the appropriate recommendations have been made to promote the implementation of IFRS by Vietnamese enterprises effectively and following the IFRS application roadmap of the Ministry of Finance of Vietnam.

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“…• Compared to developed countries, developing economies still face difficulties in developing international trade and attracting foreign investors because of the existence of poorly organized capital markets, limited access to new technologies and lack of high-quality financial information meeting investors' information needs. Thus, the increasing competition leads developing economies to adopt "best practices" (such as IFRS/IFRS for SMEs) used by more developed/successful countries (Phuong & Nguyen, 2012;Ritsumeikan, 2011).…”

Section: Mimetic Isomorphismmentioning

confidence: 99%

“…According to Ritsumeikan ( ), the level of external economic openness positively affects IFRS adoption in emerging countries. Phuong and Nguyen ( ) stipulate that IFRS adoption in Vietnam is stimulated by the increasing number of foreign investors demanding IFRS financial statements.…”

Section: Development Of Hypothesesmentioning

confidence: 99%

What Drives Developing and Transitional Countries to Adopt the IFRS for SMEs? An Institutional Perspective

Sellami¹,

Gafsi²

2018

J Corp Accounting Finance

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With the awareness of the socioeconomic importance of small- and medium‐sized enterprises (SMEs) and the growing demand for a high‐quality accounting framework for these businesses, the International Accounting Standards Board issued on July 9, 2009 a simplified version of financial reporting standards (IFRS for SMEs) to meet the specific needs of such entities. Recently, there is an increasing widespread acceptance of this standard around the world. While considerable effort has been made to explain the worldwide diffusion of full IFRS, still little empirical evidence on the factors influencing the IFRS for SMEs adoption has been undertaken. This study seeks to examine the institutional factors associated with the adoption of the IFRS for SMEs specifically in the context of developing and transitional economies. Based on a sample of 70 countries, the research results show that SMEs' importance, country's reliance on external funding, and external openness degree positively affect the IFRS for SMEs adoption. They reveal a negative effect of tax system and governance quality on this decision. However, education level and prior adoption of full IFRS are nonsignificant factors. These results are relevant to practitioners, SMEs' potential investors, standard setters, regulators, CPA firms, SMEs' managers, and policy‐makers. © 2018 Wiley Periodicals, Inc.

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International harmonization and national particularities of accounting

Cited by 28 publications

References 22 publications

Why Do African Countries Adopt IFRS? An Institutional Perspective

Why Do African Countries Adopt IFRS? An Institutional Perspective

Factors Affecting Enterprises that Apply the International Financial Report Standards (IFRS): A Case Study in Vietnam

What Drives Developing and Transitional Countries to Adopt the IFRS for SMEs? An Institutional Perspective

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