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PurposeThis study aims to investigate in‐depth, and explain the issues related to, the implementation of IAS/IFRS in an emergent country that recently adhered to the European Union, i.e. Romania.Design/methodology/approachAn institutional and structuration theory perspective is used to discuss two stages of IAS/IFRS implementation in Romania. Both primary (11 in‐depth semi‐structured interviews conducted with key actors involved in financial reporting) and secondary data (accounting regulations after the fall of communism, with respect to the implementation of IAS/IFRS) were collected for the purpose of the paper.FindingsIt was found that the two stages of IAS/IFRS implementation had different outcomes, with a more profound and qualitative impact of the second phase. The first step was a result of coercive external forces, that is, the influence of the World Bank. Given the lack of other factors to favor the change process, it is argued that the actual implementation of IAS in that period was very limited. Even though the second step meant a reduction in scope to only listed companies in consolidated accounts and financial institutions, it is argued that it was accompanied by a change process more significant than in the previous period.Originality/valueThe paper investigates the inter‐play between institutions, routines and politics in the Romanian context and highlights the complexity of accounting change in an emerging country.

This research investigates the perceptions of stakeholders involved in financial reporting in four emerging economies (the Czech Republic, Hungary, Romania, and Turkey) regarding the possible implementation of IFRS for SMEs, in terms of costs, benefits, and strategy of adoption. In‐depth, semi‐structured interviews were conducted with representatives of main stakeholders (preparers, auditors, regulators, professional bodies, and users). We find more support for IFRS for SMEs implementation in these four countries than suggested by the results of the European Commission's consultation for the European Union. Interviews reveal differences between stakeholder groups and between countries regarding the preferred implementation approach (mandatory adoption, voluntary adoption or convergence of national regulations with IFRS for SMEs). Interviews indicate the most support for the convergence approach. However, users oppose convergence and prefer the adoption of IFRS for SMEs. The convergence approach moves regulators' attention from users' needs to preparers' preferences and preparedness. This finding is relevant in the decision‐making process of national regulators, who should balance the needs of various stakeholders, but also the country's political and economic objectives.

The purpose of this article is to investigate and analyze through the lens of contingency theory the existence and use of management accounting techniques in Romanian entities, with an in‐depth consideration of the institutional factors characterizing the environment of this country. Using a sample of 109 respondents, we identify factors associated with the existence and use of management accounting techniques in a context where organizational practices are subject to variations, resource and training scarcity, and uncertainty. Our findings indicate that the most important factors are the type of capital and size. The adoption and use of management accounting techniques are mostly associated with the presence of foreign capital as a defining feature of the Romanian environment. However, we find limited statistical support for the importance of the environment and competition, factors usually related to the use of such techniques in other developing countries.