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Estimation of Benefits and Difficulties When Applying IFRS in Vietnam: From Business Perspective

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  • Ngoc Thi Bui
  • Oanh Thi Tu Le
  • Huy Manh Dao

Abstract

While many countries around the world have adopted IFRS at different levels, Vietnam is in the process of IFRS adoption by 2022. The study was conducted through the survey of 119 directors and accountants to estimate the benefits and difficulties of applying IFRS in Vietnam. The forecast content include (i) Business benefits; (ii) Benefits for investors; (iii) Benefits to policy makers; (iv) Benefits for state management agencies; (v) Challenges of applying IFRS. By regression analysis, the forecast results showed that all factors have a significantly affect on the IFRS adoption in Vietnam and they explain 54.5% of the reasons for the application. The group of benefits has a positive impact on IFRS application in Vietnam, of which, the strongest impact is the business benefits, while the challenge factor has a negative impact on IFRS adoption in Viet Nam. This result suggests policy implications for the application of IFRS in Vietnam.

Suggested Citation

  • Ngoc Thi Bui & Oanh Thi Tu Le & Huy Manh Dao, 2020. "Estimation of Benefits and Difficulties When Applying IFRS in Vietnam: From Business Perspective," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(4), pages 165-179, July.
    • Handle: RePEc:jfr:ijfr11:v:11:y:2020:i:4:p:165-179
    DOI: 10.5430/ijfr.v11n4p165
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    References listed on IDEAS

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    Cited by:

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