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Type: Journal article
Title: Local implementation of global accounting reform: evidence from a developing country
Author: Masum, M.
Parker, L.
Citation: Qualitative Research in Accounting and Management, 2020; 17(3):373-404
Publisher: Emerald
Issue Date: 2020
ISSN: 1176-6093
Statement of
Mahmud Al Masum, Lee D. Parker
Abstract: Purpose – While the world-wide adoption of international financial reporting standards (IFRS) aims to eliminate differences in national accounting standards between countries, the socio-political institutions surrounding financial reporting practices remain localised. This paper aims to penetrate and reveal the manner in which local national context, stakeholder intentions and financial reporting practices can moderate the compliance with IFRS in a developing country. Design/methodology/approach – An interview-based qualitative research framework was used to analyse the experience and attitudes of accountants, auditors and financial reporting regulators during a passage of accounting reform initiatives. Findings – This paper provides a critical analysis of the financial reporting practices of a developing country that has ostensibly implemented accounting reforms prescribed by the World Bank. It has revealed the key firm- and field-level logics that are experienced and managed by regulators and corporate managers in their approaches to financial reporting and accountability. The World Bank-led accounting reform can be constrained by a complex mix of institutional logics originating from market and corporate structures, networks of institutionalised family and political relationships, professional and regulatory structure and resourcing limitations and cultural business conventions. This paper provides evidence of firm- and field-level logics that contest and influence the emergence of a financial reporting oversight body and lead to highly variable compliance with international accounting standards. Originality/value – This paper aims to extend our knowledge beyond broad national-level elements of institutional orders. It presents a more penetrating examination of the existence and contestation of logics originating from various local and global actors and interests. It presents a theoretical mapping of institutional logics, which operate in international and local settings and also encompass firm- and field-level imperatives. Any effort to understand and improve accounting practices of a developing country need to consider the power, contestation and influence of multiple logics operating in its institutional environment.
Keywords: Corporate governance; Developing countries; Financial reporting; Regulation and IFRS
Description: The authors would like to acknowledge the valuable feedback from the participants of the Asia Pacific Interdisciplinary Research in Accounting (APIRA) Conference, July 12-15, 2016, Melbourne, Australia. The authors also gratefully acknowledge the helpful comments received from the Editor and two anonymous Reviewers on earlier versions of the paper - Local application of global accounting standards: evidence from an emerging economy,
Rights: © Emerald Publishing Limited
RMID: 1000022464
DOI: 10.1108/QRAM-10-2018-0073
Appears in Collections:Business School publications

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