IDEAS home Printed from https://ideas.repec.org/a/taf/accfor/v39y2015i2p121-139.html
   My bibliography  Save this article

Accounting harmonization in the BRIC countries: A common path?

Author

Listed:
  • Alessandro Ghio
  • Roberto Verona

Abstract

•The aim of this study is to examine the adoption of the IAS/IFRS by the BRICs.•We develop a three-dimensional framework (political, economic and cultural dimensions) to investigate the different accounting harmonization processes.•We find that China and India issue national accounting standards based on the IAS/IFRS (‘translation/editing’), whereas Brazil and Russia fully adopt the IAS/IFRS (‘imitation’).•The political dimension, supported by the national culture and ‘community’, drives the decision process, even if the three dimensions are strictly interconnected.•National interests, as the highlighted ‘varieties of capitalism’ show, are currently limiting the standardization process and more broadly, the globalization.The aim of this paper is to understand the similarities and differences in the accounting convergence process of the BRIC countries. The study examines the evolution of these countries’ accounting systems by developing a three-dimensional framework based on the political, economic and cultural elements. Brazil and Russia merely imitate, whereas China and India edit and translate the international standards (‘informed divergence’). The political aspect, supported by the national culture and ‘community’, represents the main driver, even if the three dimensions are closely interconnected and overall, we show the current emergence of limits of the implementation of the dominant market model.

Suggested Citation

  • Alessandro Ghio & Roberto Verona, 2015. "Accounting harmonization in the BRIC countries: A common path?," Accounting Forum, Taylor & Francis Journals, vol. 39(2), pages 121-139, June.
    • Handle: RePEc:taf:accfor:v:39:y:2015:i:2:p:121-139
    DOI: 10.1016/j.accfor.2015.02.001
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1016/j.accfor.2015.02.001
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1016/j.accfor.2015.02.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Paula Silva, Ana & Fontes, Alexandra & Martins, Adelaide, 2021. "Perceptions regarding the implementation of International Financial Reporting Standards in Portugal and Brazil," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 44(C).
    2. Ana Paula Silva & Alexandra Fontes & Carlos Menezes & Tânia Menezes Montenegro, 2023. "Transitioning to an IFRS-Based Accounting System: Longitudinal Insights from Practitioners in Portugal," Sustainability, MDPI, vol. 15(20), pages 1-21, October.
    3. Hedi Baazaoui, 2020. "For A New Method Of Calculating The Disclosure Index," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 9(2), pages 9-24.
    4. Leventis, Stergios & Tsalavoutas, Ioannis & Tsoligkas, Fanis, 2024. "Informal institutions in accounting research: A structured literature review," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 55(C).
    5. Figlioli, Bruno & Lemes, Sirlei & Lima, Fabiano Guasti, 2020. "In search for good news: The relationship between accounting information, bounded rationality and hard-to-value stocks," Emerging Markets Review, Elsevier, vol. 44(C).
    6. Kristýna Havlová, 2016. "IFRS vs. CAL: summary of practical knowledge and identification of research questions," Ekonomika a Management, Prague University of Economics and Business, vol. 2016(2).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:accfor:v:39:y:2015:i:2:p:121-139. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/racc .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.