Assessing international accounting harmonization in Latin America

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.

Institutional theory and IFRS: an agenda for future research

“…Currently, the institutional logics perspective is seen as one of the most viable frameworks within institutional theory (Meyer & Höllerer, 2014;Micelotta et al, 2017). Carneiro et al (2017) analyzed the process of accounting harmonization in the 13 countries of the Group of Latin American Accounting Standards Setters [GLASS]. These authors found that in the financial sector, institutional logics that were intended to ensure resilience in a financial crisis, impeded adoption of IFRS.…”

“…Because of this evolution, IT now places greater emphasis on the concept of agency and the influence of significant pre-existing structures on agency (Modell, Vinnari, & Lukka, 2017). These developments in IT have encouraged accounting scholars to consider the use of agency and the influence of institutional logics when analysing the adoption of IFRS (or IFRSbased standards) 2 by organizations and nation States (Aburous, 2019;Albu, Albu, & Alexander, 2014;Alon & Dywer, 2014;Carneiro, Rodrigues, & Craig, 2017;Guerreiro, Rodrigues, & Craig, 2012a, 2012bIrvine, 2008;Maroun & van Zijl, 2016).…”

Institutional Theory: A Bibliometric Analysis in Accounting Research

“…O tópico que mais se destaca é a adoção as IFRS. Os estudos têm explorado o isomorfismo proveniente de sua adoção, apresentando resultados em múltiplos contextos, como nos países latinos (Carneiro, Rodrigues & Craig, 2017), Portugal (Guerreiro et al, 2012), Romênia (Albu et al, 2011), Malásia (Phang & Mahzan, 2017), Iraque (Hassan, et al, 2014), Austrália (Pilcher et al 2011).…”

Internationalization of Colombian Firms: Competitive and Productivity as a Problem to Enter the Asian Market

“…As can be seeing for a long time the productivity level, in general, has shortcomings that in the light of today have been minimal or few, the efforts on the part of the competent entities to support suitable firms in the different important markets, which would allow Colombia through its businesspeople and firms to achieve international competitiveness (Xu, Xia, & Li, 2017;Carneiro, Rodrigues, & Craig, 2017), issues such as science and technology are essential to achieve such competitiveness, as well as other fundamental factors such as research.…”

“…The current production capacity does not comply with international standards and requirements in terms of being internationalized and competitive in the market (Carneiro et al, 2017), in Colombia there is no financial support system focused fully on the emphasis of international business development and promotion, which encompasses the intercultural competencies of entrepreneurs in a consistent and appropriate manner, which would undoubtedly be of great benefit to the country's economic growth, in which first must guarantee the quality of products, make a reduction of tax and other internal government barriers.…”