e-journal

Accounting development and international financial reporting standards in small island economies

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Purpose – The purpose of this paper is to examine the accounting development process and
international financial reporting standards (IFRS) in small island economies (SIEs), with particular
reference to Mauritius. SIEs are different from large economies in terms of economic and political
dependence, colonial influences and international pressures, as well as vulnerability to natural shocks.
Design/methodology/approach – This paper uses Briston’s Accounting Evolutionary Theory
(BAET) and the Transcendental Stage of Accounting Development (TSAD) proposed by Boolaky and
adopts a descripto-explanatory research tradition to explain accounting development and IFRS in
Mauritius. Data on key development economic policies between 1960 and 2008 are collected and
analysed using secondary sources, whereas data related to colonisation and basis of legal system are
archived from the National Library.
Findings – Mauritius has experienced little difficulty compared to other countries in the African
region such as Madagascar, Mozambique, Angola, Swaziland etc. in its accounting development
process because it is used to the Anglo-Saxon accounting system, has adopted the phase-by-phase
development process, has an adequate supply of professionally qualified accountants and made IFRS
compliance mandatory in 2001 through the revised Companies Act, 2001 and through the revision of
other related legislations. As regards IFRS, Mauritius has a legal, political, business and economic
environment conducive to sustain IFRS.
Research limitations/implications – This paper applies BAET to examine accounting
development from basic book-keeping to IFRS adoption in Mauritius. It also explains that there is a
transcendental stage of accounting development which BAET has not taken into consideration.
Originality/value – There is no previous study which has used BAET and TSAD to examine
accounting development and IFRS in small island jurisdictions. Previous studies have mostly focused
on large economies. This paper also provides a basis for future research in similar jurisdictions.

Keywords Mauritius, International accounting, International standards, Financial reporting, Accounting development, IFRS

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Informasi Detail

Judul Seri

Journal of Accounting in Emerging Economies

No. Panggil

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Penerbit

: Emeral Group., 2012

Deskripsi Fisik

Journal of Accounting in Emerging Economies Vol. 2 No. 1, 2012 pp. 4-29

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

AKUNTANSI

Info Detail Spesifik

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Pernyataan Tanggungjawab

Asmawati/Syahrial

Versi lain/terkait

Lampiran Berkas

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