Challenges of IFRS implementation in emerging economies: The case of Lebanon

Abstract

IFRS and their implementation are being associated with globalisation and the increasing influence of global institutions such as the World Bank. This article investigates the challenges of IFRS implementation in Lebanon, an Asian, Middle-Eastern, and an emerging economy. The findings are theoretically framed within the system, society and dominance (SSD) framework. The analysis demonstrates that system and dominance effects have driven the initial phase of IFRS implementation in Lebanon. However, societal factors have created challenges to this implementation. The article proposes a framework that categorises these challenges as schisms within the local field of accounting, associated with practice, education, and regulation.

Exploring entrepreneurship resilience capabilities during Armageddon: a qualitative study

“…Lebanon is chosen as the national context of this study due to the high number of crises that severely impacted the country in the past three decades. The 15-year civil war between 1975 and 1990, followed by the assassination of Prime Minister Rafik el Hariri, and the war with Israel in 2006 did not seem to be the end of the Lebanese tragedy (Sadaka, 2022). According to the World Bank (Worldbank, 2021), the current economic and financial crisis in Lebanon is ranked among the top three severe crises worldwide since 100 years.…”