Assessing international accounting harmonization in Latin America

Juarez Carneiro, Lúcia Lima Rodrigues, Russell Craig

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Abstract

We draw on institutional theory and interviews with key informants to assess international accounting harmonization in the 13 countries of the Group of Latin American Accounting Standards Setters (GLASS). Some GLASS countries have effected full formal adoption of International Financial Reporting Standards (IFRS), but in others, IFRS are not permitted. In several GLASS countries, IFRS are supplemented by national standards for micro-entities and cooperatives. We conclude that it will be difficult to achieve material harmonization in GLASS countries due to a lack of trained accountants, unreliable enforcement systems, and competing institutional logics of taxation systems, banks and insurance companies.
Original languageEnglish
Pages (from-to)172-184
JournalAccounting Forum
Volume41
Issue number3
Early online date23 Jun 2017
DOIs
Publication statusPublished - Sep 2017

Keywords

  • Latin America
  • IFRS
  • accounting harmonization
  • change
  • resistance

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