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Title: Barriers to institutionalization of an IFRS-based model : perceptions of portuguese auditors
Authors: Fontes, Alexandra
Rodrigues, Lúcia Lima
Marques, Carla
Silva, Ana Paula
Keywords: Perceptions
Accounting change
IFRS-based systems
Issue Date: 2021
Citation: Fontes, A. S., Rodrigues, L. L., Marques, C., & Silva, A. P. (2021). Barriers to institutionalization of an IFRS-based model: perceptions of portuguese auditors. Meditari Accountancy Research.
Abstract: Purpose – In 2010, Portugal’s newly implemented Accounting Standardization System (SNC - Sistema de Normalização Contabilística) aligned Portuguese accounting standards for unlisted companies with International Financial Reporting Standards (IFRS). The purpose of this paper is to explore the influence of the local context and the role of auditors in the institutionalization of this IFRS-based model in Portugal. Design/methodology/approach – Drawing from an institutional theory framework, the authors interviewed 16 Portuguese auditors in 2017 (seven years after formal implementation of the SNC) to determine their perceptions on whether barriers to the IFRS-based model persisted. Findings – The authors reveal that the code-law institutional logic embedded in the Portuguese context is hindering full institutionalization of the new accounting model. Some persisting barriers to implementation reflected a decoupling between formal requirements and actual practices. Despite these barriers, there has been an encouraging institutionalization of SNC. The authors reveal a high level of commitment of auditors. They draw attention to the engagement of auditors in the institutional work that is intended to assist in SNC implementation, and their role as promoters of a power-knowledge discourse in propagating IFRS institutional logics at the national level, namely, through the justification and rationalization of the reported institutional contradictions. Practical implications – The highlighting the authors provide of problems related to accounting change should assist international regulators, the Portuguese standard-setter and professional accounting associations to devise appropriate strategies to promote IFRS-based accounting systems implementation. Originality/value – The authors contribute to the skimpy literature on micro institutional analysis andencourage further exploration of the dynamics between the micro and macro levels of analysis in institutional research.
ISSN: 2049-372X
Appears in Collections:ESCE - Artigos indexados à WoS/Scopus
ESTG - Artigos indexados à WoS/Scopus

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