The adoption of international accounting standards in Bangladesh

Monir Zaman Mir · Abu Shiraz Rahaman

250 citations0/0 files storedAccounting Auditing & Accountability Journal

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Accounting and Financial Management

Abstract

Purpose This paper seeks to evaluate the recent decision of the Bangladeshi Government and accounting profession to adopt international accounting standards (IASs). Design/methodology/approach The paper uses a variety of archival data and interviews with key actors, including preparers and users of annual reports, members of the Securities and Exchange Commission, and members of the professional accounting bodies: ICAB and ICMAB. Findings The paper finds that institutional legitimisation is a major factor that drives the decision to adopt IASs because of the pressure exerted by key international donor/lending institutions on the Bangladeshi Government and professional accounting bodies. Such pressure results from not only the need to provide credibility to foreign investors but also the need for strong accountability arrangements with lending/donor agencies. However, the perceived undemocratic nature of the adoption process appears to be creating and enhancing conflict among various constituencies, resulting in very low compliance with these standards. Originality/value The paper contributes to the understanding of the diffusion of International Accounting Standards and the role of global agencies, such as the World Bank, within this process.

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References

1983The Iron Cage Revisited: Institutional Isomorphism and Collective Rationality in Organizational Fields 1977Institutionalized Organizations: Formal Structure as Myth and Ceremony 2004The iron cage revisited institutional isomorphism and collective rationality in organizational fields 1993The New Institutionalism in Organizational Analysis.1987The Adolescence of Institutional Theory 1980The roles of accounting in organizations and society 2005The Roles of Accounting in Organizations and Society 1999The Social Construction of Organizational Knowledge: A Study of the Uses of Coercive, Mimetic, and Normative Isomorphism

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