International Accounting and Auditing Standards Adoption in the Eastern European Countries of the European Union: Review of Regulations and Literature

In this paper, we review regulatory changes surrounding the adoption of international accounting and auditing standards in 11 Central and Eastern European countries that are European Union (EU) members. Additionally, we examine the English-language research related to these changes in each jurisdiction. We find many commonalities associated with the countries’ Communist past and the process of joining the EU. While many studies are being conducted in four of the countries (Czech Republic, Hungary, Poland, and Slovakia), such research is sparse in the remaining seven jurisdictions, primarily due to data availability. English-language audit research is particularly lacking. Our review outlines future research avenues and emphasizes country characteristics that must be addressed when any of the jurisdictions are a part of an international sample. Moreover, we enable international research readers to assess the generalizability of extant research findings.