International Financial Reporting Standards (IFRS) Adoption in Vietnam: If, When and How?

Corporate Ownership & Control, Volume 11, Issue 4, 2014, pp.428-436

9 Pages Posted: 2 Sep 2014 Last revised: 2 Jan 2015

See all articles by Duc Phan

Duc Phan

RMIT University Vietnam

Bruno Mascitelli

Swinburne University of Technology - Faculty of Business and Enterprise

Meropy Barut

Swinburne University of Technology - Faculty of Business and Enterprise

Date Written: September 1, 2014

Abstract

The paper examines the perceptions of Vietnamese accounting practitioners and academics regarding the optimal approach and timeline of IFRS adoption in Vietnam. Perceptions were obtained and analysed from 3,000 questionnaires sent to Vietnamese auditors, accountants, and accounting academics across Vietnam in 2012. A total of 728 usable responses were received producing an effective response rate of 24 per cent. The majority of the respondents considered that IFRS adoption should be permitted for voluntary adoption rather than mandatory adoption. The results indicate that the staggered convergence approach is more optimal than the big bang approach of IFRS adoption. A five year period for transition and preparation with some difficulties and obstacles associated with IFRS implementation is anticipated. The findings will assist accounting practitioners, educators, and policy makers to prepare themselves for the implications of IFRS convergence and adoption.

Keywords: IFRS, Vietnam, perceptions, mandatory, voluntary, approach, timeline, adoption

JEL Classification: M40, M41, M49

Suggested Citation

Phan, Duc and Mascitelli, Bruno and Barut, Meropy, International Financial Reporting Standards (IFRS) Adoption in Vietnam: If, When and How? (September 1, 2014). Corporate Ownership & Control, Volume 11, Issue 4, 2014, pp.428-436, Available at SSRN: https://ssrn.com/abstract=2490252

Duc Phan (Contact Author)

RMIT University Vietnam ( email )

702 Nguyen Van Linh
Tan Phong Ward
District 7, Ho Chi Minh City
Vietnam
84 8 3766 1300 (Phone)
84 8 3766 1399 (Fax)

HOME PAGE: http://www.rmit.edu.vn

Bruno Mascitelli

Swinburne University of Technology - Faculty of Business and Enterprise ( email )

PO Box 218
Hawthorn, VIC 3122
Australia

Meropy Barut

Swinburne University of Technology - Faculty of Business and Enterprise ( email )

PO Box 218
Hawthorn, VIC 3122
Australia

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
378
Abstract Views
2,039
Rank
143,377
PlumX Metrics