A theoretical model of stakeholder perceptions of a new financial reporting system

Alexandra Fontes, Lúcia Lima Rodrigues, Russell Craig

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This paper proposes a theoretical model to assess how stakeholders perceive a major change of an accounting regime: for example, the adoption of International Financial Reporting Standards [IFRS] or an IFRS-based financial reporting system. Using a theory borrowing approach, the model evolves from a review of key factors that have been reported to affect perceptions of change. These factors are drawn from literature dealing with management change, institutional arrangements, psychology, information systems, sociology and financial reporting. The proposed model implicates individual, technical, situational, and change process factors as major elements. Thereby, it highlights a multiplicity of matters that influence perceptions of a financial reporting change. The emerging model holds strong prospect of improving understanding of change processes in general, and financial reporting changes, in particular. The proposed model can be used to assess how any major national financial reporting reform is (or will be) perceived, and whether or not the reform will be successful. The practical insights arising from application of the model can be particularly relevant for regulators and standard-setters in devising appropriate strategies for coping with perceived implementation problems.
Original languageEnglish
Pages (from-to)300-315
JournalAccounting Forum
Issue number4
Early online date16 Nov 2016
Publication statusPublished - Dec 2016


  • Accounting
  • Change
  • International Financial Reporting Standards
  • Model
  • Perceptions


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