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The adoption of IFRS for SMEs in the northern sector of Ghana: A case of structural equation modeling

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  • Peter Sappor
  • Francis Atta Sarpong
  • Rezikatu Ahmed Seidu Seini

Abstract

The current study investigated the adoption of IFRS for SMEs among 800 SMEs in the northern sector of Ghana. The study specifically determined the awareness level and extent of adoption of the standard. It also assessed how coercive, memetic, normative and environmental factors influenced the adoption of standards among the SMEs. It utilized an explanatory research design that adopted a quantitative approach to analyzing data and making inferences. Adapting a close-ended questionnaire, the PLS-SEM was used in analyzing the data. The study revealed that the majority of SMEs were aware of IFRS for SMEs in financial reporting to a high extent. The study further found that most SMEs did not fully comply to the IFRS for SMEs in preparing and presenting financial statements. Again, Coercive isomorphism and Environmental factors positively influenced the adoption of IFRS for SMEs among SMEs in the northern sector of Ghana. In contrast, mimetic and normative isomorphism played no significant role in the adoption process. The study further found that level of compliance positively moderates the effect of the level of Awareness on IFRS for SME adoption. Challenges associated with IFRS for SMEs (COF) positively influenced its adoption.

Suggested Citation

  • Peter Sappor & Francis Atta Sarpong & Rezikatu Ahmed Seidu Seini, 2023. "The adoption of IFRS for SMEs in the northern sector of Ghana: A case of structural equation modeling," Cogent Business & Management, Taylor & Francis Journals, vol. 10(1), pages 2180840-218, December.
    • Handle: RePEc:taf:oabmxx:v:10:y:2023:i:1:p:2180840
    DOI: 10.1080/23311975.2023.2180840
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    Cited by:

    1. Coulibalyaicha Massaran & Jingli Liu, 2024. "ESG Impact on Green Purchases: Côte d’Ivoire’s Retail Sector in the Digital Age," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(7), pages 1419-1450, July.
    2. Tlotlo Segotso & Jean Damascene Mvunabandi & Masibulele Phesa, 2024. "A Systematic Literature Review of the Challenges of Adopting and Implementing IFRS for SMEs in South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 14(5), pages 131-147, September.
    3. Pearl Abredu & Cai Li & Frank Kofi Essien & Isaiah Agbenu Akanbi Adegoke, 2023. "Unleashing Potential: Overcoming Bottlenecks and Catalyzing Innovations in Intellectual Capital Intellectualization of Small and Medium-Sized Enterprises in Jiangsu During the Post-Industrial Era," SAGE Open, , vol. 13(4), pages 21582440231, December.

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