International Accounting and Auditing Standards Adoption in Non-EU Eastern European Countries: Review of Regulations and Literature

Maria Rykaczewski, Maya A. Thevenot, Maria Vulcheva

Research output: Contribution to journalArticlepeer-review

Abstract

In this paper, we review the regulations and research on the adoption of international accounting and audit standards in 11 Eastern European countries outside of the European Union. We find many regulatory commonalities among these jurisdictions related to their Communist bloc heritage. The state remains the most important stakeholder and tax accounting dominates financial reporting. The work of local auditors is considered less reliable than that of their Big 4 counterparts. International organizations and the Big 4 auditors provide stimuli for and assistance with international standards’ adoption. Accounting and audit research is limited. The scarcity of data forces most authors to focus on the qualitative evaluation of accounting and audit reforms. Some opt for surveys. Few papers include empirical analyses. Our review covers jurisdictions, which have received limited attention in prior literature. We inform future empirical work and speak to the generalizability of previous research findings to this set of countries.

Original languageEnglish (US)
Pages (from-to)77-100
Number of pages24
JournalJournal of International Accounting Research
Volume21
Issue number1
DOIs
StatePublished - Mar 1 2022

Keywords

  • accounting and audit framework
  • Eastern Europe
  • IFRS adoption
  • ISA adoption
  • research
  • review

ASJC Scopus subject areas

  • Business and International Management
  • Accounting

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