Assessing international accounting harmonization in Latin America |
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| Institution: | 1. Fundação Brasileira de Contabilidade, St. de Industrias Graficas 1 495/505/515 Ed. Barão do Rio Branco 1, Zona Industrial, Brasília, DF, 70610-410, Brazil;2. GOVCOPP, University of Minho, Portugal;3. Portsmouth Business School, University of Portsmouth, Richmond Building, Portland Street, Portsmouth, Hampshire PO1 3DE, UK;1. University of Roehampton, London, UK;2. University of Sussex, Brighton, UK;1. University of Dundee School of Business, 1 Perth Road, Dundee, Angus, DD14HN, UK;2. Aalborg University, Fibigerstraede 11-58, 9220 Aalborg, Denmark and Høgskolen i Innlandet, Rena Campus, Norway;1. School of Commerce, University of South Australia, Australia;2. School of Commerce, University of South Australia, Australia |
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| Abstract: | We draw on institutional theory and interviews with key informants to assess international accounting harmonization in the 13 countries of the Group of Latin American Accounting Standards Setters (GLASS). Some GLASS countries have effected full formal adoption of International Financial Reporting Standards (IFRS), but in others, IFRS are not permitted. In several GLASS countries, IFRS are supplemented by national standards for micro-entities and cooperatives. We conclude that it will be difficult to achieve material harmonization in GLASS countries due to a lack of trained accountants, unreliable enforcement systems, and competing institutional logics of taxation systems, banks and insurance companies. |
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| Keywords: | Latin America IFRS Accounting harmonization Change Resistance |
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