Purpose The purpose of this paper is to discuss accounting development in Tunisia, which is a developing North African country little known in the international accounting literature. Design/methodology/approach Methodologically, this paper is based on an exploratory approach. It uses the descriptive tradition of research by collecting and analyzing numerical and narrative data to identify and describe environmental factors that favor or hamper accounting development in Tunisia. Findings This paper indicates that Tunisian companies have been applying the Enterprise Accounting System (EAS) since 1996. This system, while keeping with the logic of a chart of accounts, represents a first attempt to harmonize with international accounting standards. Accounting harmonization in Tunisia is meant to support the strategy, launched in the early 1990s, to integrate the country into the globalization process. Accordingly, the EAS has helped to achieve macroeconomic benefits (public interests). However, it does not lead to the desired level of financial transparency (private interests), especially that of large companies. Currently, Tunisian Accounting Standards neither reflect the rapid evolution of business activity nor changes in international accounting standards. This unachieved harmonization has led some listed companies to comply with some International Financial Reporting Standards which are not included in the EAS. Research limitations/implications The unachieved harmonization in Tunisia is mainly related to the political system, taxation factors, the legal system, the weak state of corporate governance and governmental control over standardization. Practical implications This paper provides insights into the problems of developing countries that harmonize with international standards to achieve public interests. These countries may encounter many difficulties in bringing their accounting standards up to date. These difficulties seem to be associated with environmental specificities. Accordingly, international standardization bodies and developing country regulators should take into account environmental factors which are determinant for the harmonization decision to succeed. Originality/value This paper contributes to the existing literature on accounting development in developing countries. It implies that recent accounting development, as it is designed in Tunisia, is better suited to the needs of small businesses. Large companies would be compelled to complement local generally accepted accounting principles by standards they choose, voluntarily, among international standards.

Purpose The purpose of this paper is to investigate in-depth and explain the issues related to the experience of Tunisia, a developing country, in its attempt to move from Euro-Continental rule-based generally accepted accounting principles (GAAPs) to an accounting system adapted to international financial reporting standards (IFRS). Design/methodology/approach The study is conducted via a qualitative methodology based on a content analysis of primary data from interviews with key actors involved in financial reporting in Tunisia. Findings Findings reveal that local Tunisian GAAPs, adapted to IFRS in their 1996 version, failed to establish a financial reporting accounting culture and meet public-interest firms’ informational needs. This is mainly related to factors, such as the simplified methods adopted (generally adequate to the identified needs of users of small and medium-sized entity financial statements) and the hybrid aspect of the Tunisian accounting standards due to the co-existence of Euro-Continental and Anglo-Saxon parties. Moreover, the findings show that the lack of political willpower and the absence of updates to changes in IFRS have compromised the proper functioning of standardization and control structures. Practical implications The study’s results may interest regulators and policymakers of many developing countries that have not pursued the harmonization of their local GAAPs with IFRS. In addition, findings from the research provide insights into the rough road towards harmonization, the dysfunctions of the latter and delays in developing countries. Originality/value The research highlights the complexity for an emerging country with Euro-Continental accounting traditions to move to IFRS.

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