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This study combines Dillard et al.'s [(2004). The making and remaking of organization context:Duality and the institutionalization process. Accounting, Auditing & Accountability Journal, 17(4), 506-542] institutional change model with institutional entrepreneurship theory. The aim is to enhance understanding of institutional change processes when a country adopts international accounting standards. For empirical support, we focus on the changes in social structures and accounting practices that arose in 2010 when Portugal replaced its national accounting system for unlisted companies, with a new system of accounting based on International Financial Reporting Standards. We reveal how an evolving socio-economic and political context, and the embedding of central actors in multiple fields, facilitated entrepreneurial action by actors who took political opportunity, mobilised important allies, and accommodated the interests of major protagonists. We draw attention to the possibility of an earlier inversion of the cascading institutionalisation process than is envisaged by Dillard et al. (2004). At the organisational field level, we highlight how national professional accounting associations and business associations can shape criteria established at the political and economic level, thereby counteracting the institutionalisation process. At the organisational level, we focus on the accounting standard for small and medium-sized entities. We provide insights to why some accountants maintained structures of meaning associated with the previous accounting system.

The full-text may be used and/or reproduced, and given to third parties in any format or medium, without prior permission or charge, for personal research or study, educational, or not-for-prot purposes provided that:• a full bibliographic reference is made to the original source • a link is made to the metadata record in DRO • the full-text is not changed in any way The full-text must not be sold in any format or medium without the formal permission of the copyright holders.Please consult the full DRO policy for further details. AbstractThis paper highlights the capacity for Institutional Theory [IT] to render in-depth understanding of change processes associated with the adoption and implementation of international accounting standards by countries and organizations. Although the fact of requiring the adoption of IFRS could be characterized as a form of coercive power, recent developments in IT help to explore the extent to which adoption and diffusion of IFRS is shaped by three factors: agency, the interests of actors involved in the adoption process, and the role of institutional entrepreneurs and institutional work. We provide a structured review of literature that uses an IT framework in the context of adopting and implementing IFRS. The review brings together various streams of IT and current debates in the management and organization literature. This allows us to outline an agenda for future research that proposes six new research questions for investigation. These research questions are intended to encourage greater regard for the capacity of the theoretical toolkit of institutional logics to explore institutional entrepreneurship, institutional work, and the institutional dynamics of change processes associated with the adoption, maintenance and disruption of accounting systems.

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