International Financial Reporting Standards in an Emerging Economy: Lessons from Romania

Australian Accounting Review, 22 (4): 341–352

12 Pages Posted: 19 Jan 2013

See all articles by Nadia Albu

Nadia Albu

Bucharest Academy of Economic Studies

Catalin Nicolae Albu

Bucharest Academy of Economic Studies

Date Written: December 18, 2012

Abstract

International Financial Reporting Standards (IFRS) are a reference point for the modernisation of accounting models in emerging economies. Previous literature documents a diverse IFRS experience, especially among emerging economies. The IFRS implementation strategy and local institutional characteristics shape the way in which the standards are used in practice. We use the Romanian case to illustrate the effect of various contextual factors, some historical, on the process and outcomes of IFRS implementation. We show that IFRS implementation can follow a different pattern in emerging economies.

Suggested Citation

Albu, Nadia and Albu, Catalin Nicolae, International Financial Reporting Standards in an Emerging Economy: Lessons from Romania (December 18, 2012). Australian Accounting Review, 22 (4): 341–352. Available at SSRN: https://ssrn.com/abstract=2202690

Nadia Albu (Contact Author)

Bucharest Academy of Economic Studies ( email )

Piata Romana No. 6
Sect. 1
Bucharest
Romania

Catalin Nicolae Albu

Bucharest Academy of Economic Studies ( email )

Piața Romană 6
Bucharest, 010374
Romania

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