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Article
Publication date: 11 September 2017

Fatma Ben Slama and Mohamed Faker Klibi

The purpose of this paper is to discuss accounting development in Tunisia, which is a developing North African country little known in the international accounting literature.

Abstract

Purpose

The purpose of this paper is to discuss accounting development in Tunisia, which is a developing North African country little known in the international accounting literature.

Design/methodology/approach

Methodologically, this paper is based on an exploratory approach. It uses the descriptive tradition of research by collecting and analyzing numerical and narrative data to identify and describe environmental factors that favor or hamper accounting development in Tunisia.

Findings

This paper indicates that Tunisian companies have been applying the Enterprise Accounting System (EAS) since 1996. This system, while keeping with the logic of a chart of accounts, represents a first attempt to harmonize with international accounting standards. Accounting harmonization in Tunisia is meant to support the strategy, launched in the early 1990s, to integrate the country into the globalization process. Accordingly, the EAS has helped to achieve macroeconomic benefits (public interests). However, it does not lead to the desired level of financial transparency (private interests), especially that of large companies. Currently, Tunisian Accounting Standards neither reflect the rapid evolution of business activity nor changes in international accounting standards. This unachieved harmonization has led some listed companies to comply with some International Financial Reporting Standards which are not included in the EAS.

Research limitations/implications

The unachieved harmonization in Tunisia is mainly related to the political system, taxation factors, the legal system, the weak state of corporate governance and governmental control over standardization.

Practical implications

This paper provides insights into the problems of developing countries that harmonize with international standards to achieve public interests. These countries may encounter many difficulties in bringing their accounting standards up to date. These difficulties seem to be associated with environmental specificities. Accordingly, international standardization bodies and developing country regulators should take into account environmental factors which are determinant for the harmonization decision to succeed.

Originality/value

This paper contributes to the existing literature on accounting development in developing countries. It implies that recent accounting development, as it is designed in Tunisia, is better suited to the needs of small businesses. Large companies would be compelled to complement local generally accepted accounting principles by standards they choose, voluntarily, among international standards.

Details

International Journal of Law and Management, vol. 59 no. 5
Type: Research Article
ISSN: 1754-243X

Keywords

Article
Publication date: 3 September 2020

Ahmed Atef Oussii and Mohamed Faker Klibi

De facto use of International Financial Reporting Standards (IFRS) is a particular form of voluntary compliance with International Accounting Standards (IAS). It is practiced when…

Abstract

Purpose

De facto use of International Financial Reporting Standards (IFRS) is a particular form of voluntary compliance with International Accounting Standards (IAS). It is practiced when an enterprise uses a number (and not all) of international standards as a complement to overcome the unachieved nature of local generally accepted accounting principles. The purpose of this paper is to analyze, at first, whether the financial expertise of Tunisian audit committee’s members is associated with de facto use of IFRS. Second, it explores to what extent and in what direction this association evolves when the factor auditor’s size is introduced as a moderator variable.

Design/methodology/approach

Data spanning a seven-year period (2012–2018) was hand-collected for a sample of 497 firm-year observations. Further, regression analysis was used to test the study’s hypothesis.

Findings

Findings show that the proportion of financial experts who sit on the audit committee is positively associated with the de facto use of IFRS. Besides, the association between audit committee members’ financial expertise and the voluntary use of IFRS is more pronounced when the company is audited by at least one BIG 4 audit firm.

Practical implications

The paper’s findings have implications for regulatory bodies and standards setters who are concerned with the functioning of the audit committee, especially when it comes to enhancing the quality of the financial statements. The results also shed light on the role of financial experts on the audit committee and Big 4 auditors to enforce the de facto use of IFRS.

Originality/value

The findings of this study contain an important message for the drift toward national de jure convergence with IAS.

Details

Corporate Governance: The International Journal of Business in Society, vol. 20 no. 7
Type: Research Article
ISSN: 1472-0701

Keywords

Article
Publication date: 20 August 2021

Foued Khlifi

The purpose of this paper is to shed light on the relationship between the Internet Financial Reporting (IFR) levels and corporate characteristics. It is assumed that the…

240

Abstract

Purpose

The purpose of this paper is to shed light on the relationship between the Internet Financial Reporting (IFR) levels and corporate characteristics. It is assumed that the relationship between the disclosure level and its determinants is known. Nevertheless, the results of the empirical studies confirm that it is a naive assumption. As a result, the author suggests refusing the conventional methods of econometric analysis.

Design/methodology/approach

The research methodology consisted of four stages: First, the author tried to select the “best” model using the Akaike Information Criterion (AIC). Second, the author checked out the stability of the relationship between corporate disclosure level and its determinants. Third, the regression analysis was used. Finally, the author proposed a “genetic-fuzzy system” for studying the determinants of corporate disclosure. The firms' yearly data collected consisted of a random sample of 152 Tunisian companies' websites.

Findings

The results show that the variables that should be used to explain the level of IFR are firm size, ownership concentration, firm performance and liquidity. The Chow forecast test shows that there is a significant and large difference between the actual and the predicted values. Consequently, the author suggests using non-parametric methods, particularly a methodology based on fuzzy logic concepts and genetic algorithms. This technique would allow the author to discover the true form of the relationship between the disclosure level and its determinants. Regarding the hypotheses of this study, the findings of the “genetic-fuzzy system” validate all the hypotheses. Indeed, the arguments of the agency theory, the signaling theory, and the political cost hypothesis were supported using the “genetic-fuzzy system.”

Originality/value

The originality of the paper lies in providing a new research methodology based on several statistical tools for dealing with an important research topic in accounting and finance, i.e. the determinants of IFR. The results of this study can be considered as a starting point to develop a unified methodology.

Details

EuroMed Journal of Business, vol. 17 no. 4
Type: Research Article
ISSN: 1450-2194

Keywords

Article
Publication date: 4 June 2021

Rim Khemiri and Mariam Dammak

This paper aims to trace the process of setting up and developing the higher accounting education curriculum in Tunisian public institutions, stressing the period 1956–1981…

Abstract

Purpose

This paper aims to trace the process of setting up and developing the higher accounting education curriculum in Tunisian public institutions, stressing the period 1956–1981. Further, this study intends to highlight specificities of the Tunisian context during this period, focusing on the main roles of the Tunisian State and some key actors.

Design/methodology/approach

This study is based on a historical approach. Two complementary methodologies were used, mainly, documentary study and semi-directive interviews with key actors heavily involved in higher education. The critical accounting framework and Foucault’s power-knowledge relationship were mobilized to this end.

Findings

The paper provides a general overview of higher accounting education in the Tunisian context, focusing on three specific periods. First, in the post-independence period (1956–1960), higher accounting education was a very underdeveloped French heritage. Second, during the 1960s, the Tunisian State focused on institutional and structural measures to set up the initial foundation. Those measures were impacted by the Tunisian socialist economic system, the development of capital human and the cultural French influence, at once. Third, the 1970s were essentially marked by the role of university-scholars and professional-accountants to set up a higher accounting curriculum. The market-oriented economy and the higher social equity are assumed to influence the above-mentioned setting-up. The culmination of this extending process was the unification and publication of the first official program of accounting studies, at the start of 1981.

Originality/value

To the best of the authors’ knowledge, this study is the first attempt to trace the process of setting up and developing of higher accounting education curriculum in Tunisia. This study contributes to a better understanding of this process, shedding some light on the specificities of the Tunisian context during the period 1956 to 1981.

Details

Journal of Financial Reporting and Accounting, vol. 20 no. 1
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 21 December 2020

Jihen Eljammi Ayadi, Salma Damak and Khaled Hussainey

The effect of culture, through the accounting values of conservatism and secrecy, on accounting judgments is an area of research extensively studied in developed countries…

Abstract

Purpose

The effect of culture, through the accounting values of conservatism and secrecy, on accounting judgments is an area of research extensively studied in developed countries. However, little research has focused on this issue in developing countries, specifically Arab countries. Thus, this study aims to fill this gap by investigating the impact of the combined effect of the culture/accounting dimensions on the interpretation of the probability expressions used in the international accounting standards/international financial reporting standards (IFRSs) in two North African/Arab countries: Tunisia and Egypt.

Design/methodology/approach

In the first place, this study determines Hofstede’s cultural index scores for Tunisia, ignored in his original model and updates those related to Egypt, which provides a more relevant understanding of the cultural effect. Then, the study relies on the Hofstede/Gray cultural accounting model to examine the extent to which the accounting values of conservatism and secrecy may affect the recognition of the increase and the decrease of income and the disclosure of this information in the financial statements by postgraduate accounting student in both countries.

Findings

The results provide evidence of the generalizability of Gray’s conservatism hypothesis in the North African/Arab countries (i.e. Tunisia and Egypt), at least in the context of income recognition. Moreover, the findings demonstrate that culture, through its influence on the accounting value of secrecy, affects the interpretation of probability expressions used in the IFRSs to establish disclosures.

Research limitations/implications

This study calls for more attention from the standard setters to provide further guidance related to the consistent and accurate numerical value that needs to be assigned to the probability expressions to reduce the ambiguity related to their interpretation. The international accounting standards board (IASB) should pay greater attention to the use of vague probability expressions in developing the IFRSs to promote the true comparability of financial reporting worldwide. Like with any research, this study implies certain limitations specifically related to the sample selection, a sample size, which may affect the generalizability of the results. Thus, future research may rely on a larger sample combining and cover other cultural areas.

Practical implications

The results of this study may give insights into the practical issues faced by the accounting practitioners and which are related to the interpretation and the application of the IFRS including probability expressions. This may trigger their attention toward this issue to reduce the occurrence of these expressions in the revised and newly released standards to guarantee homogeneous financial reporting practices across countries and enhance the IASB’s objective of international accounting harmonization.

Originality/value

This study might be the first one that investigates the issue of the IFRS interpretation in two North African and Arab countries: Tunisia and Egypt. It also provides an original investigation of the cultural effect on accounting judgments based on the actualized Hofstede’s cultural indexes, especially for Tunisia which is ignored in the original country classification.

Details

Journal of Financial Reporting and Accounting, vol. 19 no. 2
Type: Research Article
ISSN: 1985-2517

Keywords

Article
Publication date: 8 April 2014

Neila Boulila Taktak and Sarra Ben Slama Zouari

The purpose of this paper is to better understand the current state of the Islamic financial system in Tunisia. In addition, it is aimed at discussing the preconditions that can…

2708

Abstract

Purpose

The purpose of this paper is to better understand the current state of the Islamic financial system in Tunisia. In addition, it is aimed at discussing the preconditions that can help exploit the potential development of Tunisia's Islamic finance and expand the banked population.

Design/methodology/approach

The paper describes the regulatory and legal framework governing the Tunisian Islamic banks. It provides a mapping of Islamic banks, mutual funds, Takaful institutions and a potential Sukuk market. The paper also relates recent developments including academic qualifications and training in Islamic finance.

Findings

The paper concludes with various recommendations for the successful transition from a niche position to a critical mass. It argues the need to establish a specific regulatory framework, supervisory standards and rules of accounting for this kind of institutions. It suggests the development of Islamic financial education to strengthen the role played by the Islamic financing Ecosystem and to help Tunisia promote local and exportable expertise to other countries. Finally, authorities should focus more on promoting market Sukuk, Takaful and microcredit to fund SME.

Originality/value

This paper contributes to the assessment of the current situation of Islamic finance in Tunisia by performing a full scan of the Islamic financial landscape instead of being limited only to Islamic banks. It proposes some prerequisites to benefit from the opportunities offered by the Islamic finance industry in Tunisia to take advantage of its future potential and ensure its promotion.

Details

Journal of Islamic Accounting and Business Research, vol. 5 no. 1
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 18 October 2021

Fatma Ben Slama, Ahmed Atef Oussii and Mohamed Faker Klibi

The purpose of this paper is to investigate in-depth and explain the issues related to the experience of Tunisia, a developing country, in its attempt to move from…

Abstract

Purpose

The purpose of this paper is to investigate in-depth and explain the issues related to the experience of Tunisia, a developing country, in its attempt to move from Euro-Continental rule-based generally accepted accounting principles (GAAPs) to an accounting system adapted to international financial reporting standards (IFRS).

Design/methodology/approach

The study is conducted via a qualitative methodology based on a content analysis of primary data from interviews with key actors involved in financial reporting in Tunisia.

Findings

Findings reveal that local Tunisian GAAPs, adapted to IFRS in their 1996 version, failed to establish a financial reporting accounting culture and meet public-interest firms’ informational needs. This is mainly related to factors, such as the simplified methods adopted (generally adequate to the identified needs of users of small and medium-sized entity financial statements) and the hybrid aspect of the Tunisian accounting standards due to the co-existence of Euro-Continental and Anglo-Saxon parties. Moreover, the findings show that the lack of political willpower and the absence of updates to changes in IFRS have compromised the proper functioning of standardization and control structures.

Practical implications

The study’s results may interest regulators and policymakers of many developing countries that have not pursued the harmonization of their local GAAPs with IFRS. In addition, findings from the research provide insights into the rough road towards harmonization, the dysfunctions of the latter and delays in developing countries.

Originality/value

The research highlights the complexity for an emerging country with Euro-Continental accounting traditions to move to IFRS.

Details

Accounting Research Journal, vol. 35 no. 4
Type: Research Article
ISSN: 1030-9616

Keywords

Article
Publication date: 27 May 2021

Onsa Akrout and Salma Damak Ayadi

The present work aimed to enhance the understanding of professional turnover intentions of accounting professionals by exploring their attitudes towards this phenomenon in an…

Abstract

Purpose

The present work aimed to enhance the understanding of professional turnover intentions of accounting professionals by exploring their attitudes towards this phenomenon in an emerging economy (Tunisia).

Design/methodology/approach

An exploratory research was conducted using a narrative approach (episodic interviewing) after having interviewed accounting professionals. Data were analysed with the thematic coding method using NVivo software based on the push-pull-mooring (PPM) framework. Based on this analysis, four types of professionals were identified.

Findings

The interconnections among PPM factors, which are different from one type of professionals to another, play a vital role in whether a professional intends to leave the accounting profession or not. All four types of professionals perceived unpleasant facets of the public practice environment (push factors) and manifested a tendency to switch to available job opportunities (pull factors). Nevertheless, the latitude for profession change, for the third and the fourth types who perceived the professional experience differently, is restricted by mooring factors. That is not the case for the first type of professionals who have already left public accounting and the second type who intend to quit the profession, as we did not find any mooring factors.

Research limitations/implications

This study explored the attitudes of accounting professionals towards professional turnover intention. A deeper insight into the views of the academics and the Ordre des Experts Comptables de Tunisie (OECT) might help understand this phenomenon.

Practical implications

Understanding the relative impact of push, pull and mooring allows the accounting professionals to determine their attitudes towards the intention to leave the profession. This enables firms to develop more effective programmes to retain valued accounting human resources. The findings highlight that the professional associations should promote the values the profession brings to the community through nationwide public awareness campaigns and enhance career opportunities by providing more branches of activity within the profession.

Originality/value

The paper responds to calls for further examination of factors behind professional turnover intention at a time when high rates of turnover were observed among accounting professionals. Also, the cultural context of Tunisia helps explain our findings.

Details

Journal of Accounting in Emerging Economies, vol. 12 no. 1
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 7 August 2017

Raida Chakroun, Hamadi Matoussi and Sarra Mbirki

This study aims to investigate the extent and trends of voluntary corporate social responsibility (CSR) disclosure and to analyze the determinants of the listed banks’ annual…

1700

Abstract

Purpose

This study aims to investigate the extent and trends of voluntary corporate social responsibility (CSR) disclosure and to analyze the determinants of the listed banks’ annual reports and websites in an emergent capital market, namely, Tunisia.

Design/methodology/approach

The authors examine the level of CSR disclosure by means of a manual content analysis where the sentence is used as the unit of the analysis. They use Branco and Rodrigues’ (2006 and 2008) index which includes 23 items. They focus on the annual reports of 11 Tunisian listed banks during the period from 2007 to 2012 and the information presented on their websites in December 2013. They use, also, regression analysis to identify the determinants of CSR disclosure used by Tunisian listed banks.

Findings

The results of the investigation show that Tunisian listed banks disclose CSR information primarily in a narrative form. Human resources are the main focus in the annual reports, whereas, on the websites, community involvement is the most widespread theme. With regard to the determinants, it appears that bank age, financial performance and state shareholding are the main factors that impact CSR disclosure in the Tunisian listed banks’ annual reports. Furthermore, this study finds a positive (negative) relationship between leverage (financial performance) and CSR disclosure in the banks’ websites. In this regard, the results show different determinants of CSR disclosure for the two supports. Moreover, bank size, foreign shareholding and the type of auditor are unrelated to the listed banks’ CSR disclosure either in their annual reports or on their websites.

Research limitations/implications

The sample size is small; however, it consists of all the relevant Tunisian banks. Also, this study is subject to the limitations of using manual content analysis.

Practical implications

This study enables highlights the importance of CSR disclosure and its determinants for the Tunisian banks’ stakeholders (such as regulators, investors and managers).

Originality/value

The authors contribute to the scarce literature on CSR disclosure in financial institutions. It is the first study to investigate Tunisian listed banks’ CSR disclosure. It is a first attempt to show, also, how banks’ characteristics and banks’ ownership structures impact on their CSR disclosure in their annual reports and on their websites.

Details

Social Responsibility Journal, vol. 13 no. 3
Type: Research Article
ISSN: 1747-1117

Keywords

Article
Publication date: 2 February 2015

Hakim Ben Othman and Anas Kossentini

The purpose of this paper is to explore the underlying assumptions of economic development theories that may support or constrain accounting standard-setting strategies related to…

3835

Abstract

Purpose

The purpose of this paper is to explore the underlying assumptions of economic development theories that may support or constrain accounting standard-setting strategies related to IFRS adoption and their potential effects on emerging stock markets (ESMs) development. The authors investigate the country-level association between the extent of IFRS adoption and ESMs development.

Design/methodology/approach

The empirical analysis is based on a dynamic panel model using the generalized method of moments for 50 emerging economies over a period spanning from 2001 to 2007.

Findings

The authors find that a higher level of IFRS adoption affects positively and significantly stock market development (SMD). More specifically, full IFRS adoption for listed firms is substantially associated with SMD. However, the authors find that partial adoption of IFRS might be not only inappropriate and irrelevant, but also significantly harmful to ESMs development. In addition, it is shown that local GAAPs shaped on the basis of IFRS with major changes are at the origin of such counter-intuitive relationships.

Practical implications

This paper has some policy implications for developing countries. In order to enhance ESMs development, it is important to improve financial information quality through full adoption of IFRS. In a global economic system, it is essential to standard-setters as well as market regulators in non-adopter developing countries to require full IFRS adoption.

Originality/value

This paper extends previous work of Larson and Kenny (1996) in establishing relationships between standard-setting strategies faced to IFRS and theories of economic development. The authors investigate the effects of these standard-setting strategies on SMD using a sample of 50 emerging economies.

Details

Journal of Accounting in Emerging Economies, vol. 5 no. 1
Type: Research Article
ISSN: 2042-1168

Keywords

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