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In 2018, the International Financial Reporting Standard 9-Financial Instruments became mandatory, effectively changing the underlying accounting principles of financial instruments. This paper systematically reviews the academic literature on the implementation effects of IFRS 9, providing a coherent picture of the state of the empirical literature on IFRS 9.

The study thrives on a systematic review approach by analyzing existing academic studies along the following three broad categories: adoption and implementation, impact on financial reporting, and risk management and provisioning. The study concludes by providing research prospects to fill the identified gaps.

We document data-related issues, forecasting uncertainties and the interaction of IFRS 9 with other regulatory standards as implementation challenges encountered. Also, we observe cross-country heterogeneity in reporting quality. Furthermore, contrary to pre-implementation expectations, we find improvement in risk management. This suggests that despite the complexities of the new regulatory standard on financial instruments, it appears to be more successful in achieving the intended objective of enhancing better market discipline and transparency rather than being a regulatory overreach.

As the literature on IFRS 9 is burgeoning, we provide state-of-the-art guidance and direction for researchers with a keen interest in the economic significance and implications of IFRS 9 adoption. The study identifies gaps in the literature that require further research, specifically, IFRS 9 adoption and firm’s hedging activities, IFRS 9 implications on non-financial firms. Lastly, existing studies are mostly focused on Europe and underscore the need for more research in under-researched jurisdictions, particularly in Asia and Africa. Also, to standard setters, policymakers and practitioners, we provide some insight to aid the formulation and application of standards.

This paper aims to examine the influence of the International Financial Reporting Standards (IFRS) adoption on corporate tax avoidance (CTA). In addition, this study aims to explore whether family ownership moderates the impact of IFRS adoption on CTA.

The authors used a sample of 1,856 firms from various countries around the world, covering the period between 2010 and 2022. To estimate the proposed econometric models, the authors applied both fixed and random effects regression methods.

The present findings show that IFRS adoption has a negative impact on CTA, as measured by the effective tax rate and book-tax differences. This negative impact is more pronounced in “common law” countries than in “civil law countries.” Additionally, the authors found that family ownership plays a moderating role by positively affecting the impact of IFRS adoption on CTA.

The findings have practical, regulatory and academic implications for fostering accountability and fairness in taxation. This study suggests that implementing IFRS reduces tax avoidance and emphasizes the need for firms to evaluate the implications of IFRS adoption on their tax-planning strategies. It highlights the importance of aligning financial reporting practices with international standards to enhance transparency and minimize tax avoidance opportunities. The differential impact of IFRS adoption between “common law” and “civil law” countries underscores the role of legal and regulatory frameworks. In addition, family ownership plays a significant role in shaping tax-planning strategies. From an academic perspective, this research provides a foundation for further exploration into the relationship between IFRS adoption and tax avoidance.

The existing literature has predominantly concentrated on examining the effect of IFRS adoption on CTA, and the empirical findings have been inconsistent. This study introduces a novel perspective by considering the moderating influence of family ownership in determining the impact of IFRS adoption on CTA.

The global insurance industry has implemented International Financial Reporting Standards (IFRS) 17 insurance contracts effective from January 1, 2023. The Islamic insurance (Takaful) industry would find itself at a crossroads if IFRS 17 should also be adopted for Takaful contracts. This paper aims to explore the process of IFRS 17 adoption for Takaful contracts in Malaysia and the implementation of the standard in the early adoption year.

Applying a qualitative approach, this study uses a literature review search and interviews to analyze deeper into the adoption process in Malaysia. Using institutional work, this paper analyses the process timeline, the actors and their roles and actions in the adoption process. The authors interviewed 12 informants from different backgrounds comprising the national standard setters, preparers and the IFRS 17 consultants.

The adoption process of IFRS 17 in Malaysia is an interplay between the accounting standard setter, the government and the industry associations who are the major actors in the process. These actors have different roles and contributions, but they work together to accomplish a single vision, adopting IFRS 17 for all. There is an interplay between actors to disrupt the accounting practice and involved in creating various institutional work to ensure the concerns of Takaful practitioners are well addressed. This research also found that the companies faced significant challenges in applying the standard in the early months of implementation.

This paper contributes to the literature by providing an explanation and examples of the IFRS adoption for Shariah transactions. The story of Malaysia can become a case study for other countries that are still deciding on adopting IFRS 17, especially for the Islamic insurance industry.

The story of Malaysia can become a case study for other countries that are still deciding on adopting IFRS 17, especially for the Islamic insurance industry.

This paper contributes to the literature on the debate of the application of IFRS to Shariah transactions by using institutional work theory as a framework.

This paper aims to examine the moderating effect of conflict of interest regulation (CIR) on the relationship between mandatory of International Financial Reporting Standards (IFRS) adoption and foreign direct investment (FDI) in the Middle East and North Africa (MENA) region.

The study was conducted based on panel data from 15 MENA countries during the period 2008–2020. Collected data were analyzed by using the generalized method of moments estimation technique.

This study results show that both mandatory of IFRS adoption and CIR do not have a significant effect on FDI inflows in MENA region; however, their interaction has a positive and significant effect on FDI inflows. This implies that more development of CIR enhances the impact that mandatory of IFRS adoption has on FDI inflows.

This study results are very useful to policymakers and regulators in the MENA region. The mandatory of IFRS adoption on its own does not improve significantly FDI inflows. The MENA countries should look inwards into more developed CIR that would support IFRS adoption to attract more FDI.

To the best of the author’s knowledge, this is the first research study to investigate the moderating effect of CIR on the relationship between mandatory of IFRS adoption and FDI inflows. In addition, the empirical researches on the effect of mandatory of IFRS adoption as issued by the International Accounting Standards Board (IASB) on FDI inflows for MENA countries are almost absent.

This article aims to identify and review existing studies on the adoption and compliance of International Financial Reporting Standards (IFRS) in Africa.

The methodology involves a sole focus on studies conducted with an African sample, using a bibliometric method and data from the Web of Science (WoS) database. Visualizations from VOSViewer and Biblioshiny software are employed to identify the dominant authors, journals and countries contributing to research in the region.

The findings reveal existing collaborations among authors in the field. However, the study emphasizes the need for additional research to enhance the intellectual structure of the research domain, as the majority of related documents are concentrated within twenty articles with at least one citation.

The practical implications underscore the importance of collaboration in practice, emphasizing the need for cooperation among corporations, experts and regulatory agencies involved in IFRS adoption and compliance in Africa. By fostering collaborative efforts and knowledge-sharing among corporations, experts and regulatory agencies, practitioners can enhance their understanding, streamline implementation processes and improve compliance methods.

This review is one of the few to explicitly conduct a bibliometric review of IFRS adoption and compliance studies in Africa, providing a foundation for future research to determine the current direction of IFRS studies in this region.

This paper tries to shed light on the international progress regarding the adoption of International Public Sector Accounting Standards (IPSAS), to accentuate the benefits resulting from the application of IPSAS, and to highlight the main differences between IPSAS and IFRS.

A comprehensive literature review is conducted which focuses on issues concerning the factors that induce the adoption of IPSAS, the obstacles that must be overcome, the degree of IPSAS’ proliferation worldwide, the repercussions from adopting IPSAS, the benefits of IPSAS, and the differences between IPSAS and IFRS. The selection process of the cited articles focuses on journals with high rankings in the ABS list.

It is accentuated that IPSAS carry significant benefits regarding the improved quality of the financial information reported by the public sector, the enhancement of transparency and accountability, the upgrading of the decision-making process and the restored trust in public finances. However, there is more work that needs to be done toward the global proliferation of IPSAS.

This study provides insights regarding the implementation process of IPSAS, which should be useful to all the parties engaged in the reform of the public administration, such as national governments, local or international regulators, accounting standard setters and institutional organizations.

The current study clarifies whether the public sector should move from using the business focused IFRS, as it is frequently the case, to the adoption of IPSAS. In addition, this study comprehensive literature review can be used by academics and researchers as a basis for further research on the issue. More importantly, policymakers and other officials who need to make informed decisions about financial reporting issues at the government level and the public sector in general can benefit from this study.

The purpose of this study is to discuss the most relevant literature related to the adoption of International Public Sector Accounting Standards (IPSAS) in the public sector in developed and developing countries, identifying the constraints and stimuli they represent in the implementation of the public accounting reform. It also presents future research proposals on the factors identified.

The methodology is based on a systematic review of the literature described by Moher et al. (2009). The final sample includes 90 academic papers published from 2000 to 2022.

The main findings indicate that there are differences between constraints and stimuli in the implementation of accounting standards between developed and developing countries. In terms of constraints, the main factor in developed countries is the lack of training, whereas in developing countries it is the limitation on financial resources. In addition, the results demonstrate that in developed countries the factors that most encourage the implementation of accounting standards are modernization and improvement of accounting, while in developing countries, encouragement comes mainly from external and internal pressure.

This study helps countries and institutions to learn from experience and better prepare for the accounting reforms of public administration that they will undertake. Managers of public organizations may be willing to make decisions in the adoption of IPSAS if they take into account the factors established herein.

This study helps countries and institutions to learn from the experience, better prepare for the public administration accounting reforms that they will undertake and add greater transparency in the accountability of public accounts to citizens.

In addition to previous studies, this study addresses a number of factors perceived by those involved in the implementation of IPSAS in developed and developing countries and provides a robust research agenda to pursue during the coming years, as there are several important unexplored questions that invite further research.

This study aims to investigate the effects of IFRS convergence on market liquidity and to analyze the firm-level heterogeneity in liquidity effects based on reporting incentive, firm size, ownership structure and firm leverage.

The empirical analysis is based on firm-fixed effect regression using several proxies of market liquidity as dependent variables. The sample consists of 337 firms listed on the National Stock Exchange (NSE) who shifted to IFRS from the financial year 2016–2017.

The empirical findings indicate that IFRS convergence has contributed to the significant increase in market liquidity in a weaker enforcement country, i.e. India. Additionally, when the study performs the heterogeneity test of IFRS impact, the results indicate the presence of significant cross-sectional differences in such liquidity effects across firms. Thus, altogether the findings suggest that both accounting convergence and firm-level factors are likely to be the mechanism underlying the observed improvement in market liquidity.

In the current literature, there is an ongoing debate about whether the observed post-IFRS effects are driven by the change in accounting standard per se or by other related factors. Therefore, by studying the liquidity effects of IFRS convergence in India, this study provides evidence regarding the sources of the documented IFRS effects. Moreover, the study indicates the significance of firm-level factors in determining the observed liquidity outcomes around IFRS adoption, which is unique to the literature.

This paper aims to assess the determinants of food certificate adoption and analyse the impacts of food certificates on e-commerce income among small online agri-food sellers in Indonesia.

The authors used data from an online survey of 228 small-online agri-food sellers in East Java, Indonesia. This study aims to focus on two food certificates: a mandatory Halal (Islamic dietary law) certificate and the P-IRT certificate, a food safety certificate for home-based businesses. A maximum simulated likelihood (MSL) estimator was employed to account for selection bias and endogeneity.

The study highlights the continued importance of certification in agri-food markets, including e-commerce and the need to consider the degree of substitutability and resource allocation between multiple food certificates. It finds that online agri-food sellers adopting the Halal certificate earn two to three times higher compared to non-adopters. Conversely, the gross income per month from e-commerce sales is 78% lower among those adopting the P-IRT certificate. Moreover, access to regulatory information sources motivates the likelihood of adopting food certificates. In contrast, the business size, marketing channels, contractual relationship and management capabilities are insignificant factors for the adoption of any of the Halal and P-IRT certificate combinations.

Results from this research might be specific to the context of the focus study area, thereby reducing their generalisability. In addition to gathering representative samples, future research should also capture more complex dimensions of food certificates. These include the cost of acquiring food certificates, online sellers' perceptions of food certificate adoption, and emerging topics such as group certification and the use of technology.

To the authors' knowledge, this research is one of the first studies investigating the adoption of food certificates within the e-commerce setting. This study also contributes to the small number of studies looking at multiple certificate adoption and food certificate issues from the retailers' perspectives

The authors extend the literature on decoupling by analyzing the microlevel effects of institutionalized practices within the framework of international standards. This study investigates the specific informal management practices that decision-makers embrace in order for organizations to achieve ISO 9001 certification without all regulations being adopted and followed according to the standard's original design and purpose.

As the basis for its research framework, this paper adopts the neo-institutional theory. The research employs the comparative case study method and draws its data from a sample of 21 ISO 9001:2008 certified organizations in Bulgaria.

The results show ambivalent behavior toward the ISO 9001 standard's formal requirements. This behavior is expressed through targeted noncompliance with (certain) regulations and procedures regarding top management commitment, as well as documented information which are formally adopted within the organization and certified as complying with the standard.

The study has implications for future research into decoupling, organizational learning, and standardization. In terms of limitations, the authors examined the process of decoupling from a micro perspective in Bulgaria only. Noncompliance with international standards such as the ISO 9000 may exhibit specific regional or national characteristics.

Findings from this research encourage the International Standards Organization to respond to previous calls for revising the formal structure of ISO 9000 and other international management standards by considering a more flexible and liberal point of view.

As opposed to previous studies which have explored decoupling from a macro perspective, this study focuses on how the internal constraints imposed by the standard's universal requirements are being mitigated at a micro level. That is, the authors provide a detailed account of the specific informal management practices which managers (deliberately) adopt in order to achieve certification without fully integrating the formal criteria imposed by international standards (e.g. ISO 9001).