Tracking The Transition A Scoping Review Of Ifrs Themed Studies In Ethiopia

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This study was conducted with the general objective of assessing prior studies conducted in the thematic area of IFRS adoption in Ethiopia and organizing their major findings. The diverse methodological choices made by the studies in the area made the preparation of a quantitative meta-analysis impossible and an alternative qualitative scoping review was used. The study reviewed 40 unpublished and 8 published studies prepared between 2012 and 2021. The reviewed studies are those that addressed adoption benefits, adoption challenges, and factors that affect IFRS adoption. The finding of the scoping review suggests that the studies are in consensus about IFRS having multiple benefits while it is quite challenging to implement. Reduction of cost of capital and access to easier external financing on the side of the adaptors, enhancement of transparency and comparability in financial reporting, and increase in foreign direct investment are among the benefits of IFRS adoption. The significant cost related to adoption, the need for additional training, the shortage of professionals and experts in the sector, lack of implementation guidance from regulators and other stakeholders, and the complex nature of some of the IFRS standards are amongst the common challenges in the adoption of IFRS. Factors such as level of education and training, company size, the existence of professional bodies and an active capital market positively and significantly affect IFRS, while economic factors and cost of conversion are among the factors that affect IFRS adoption negatively. The scoping review conducted on the study area revealed that the studies give disproportionate attention to certain sectors and types of businesses while ignoring others, have issues of comprehensiveness in terms of giving due attention to opposing views, and largely ignore the peculiarity of the Ethiopian financial ecosystem. This created a knowledge gap in the area and needs to be fulfilled with further studies.

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Tracking The Transition A Scoping Review Of Ifrs Themed Studies In Ethiopia

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