Professional Autonomy, Professional Confidence, And IFRS Harmonization: Evidence from the World Values Surveys
DOI:
https://doi.org/10.60154/jaepp.2024.v25n2p238Keywords:
IFRS Harmonization, Trust, Political Impact, Professional Autonomy, Professional Confidence, World Values SurveyAbstract
This study examines how International Financial Reporting Standards (IFRS) align with the cultural characteristics of adopting countries, emphasizing the professional judgment required for IFRS implementation. Building on the cultural frameworks of Hofstede and Gray, the study highlights the importance of professional autonomy and confidence in adopting IFRS. The research identifies six key factors influencing IFRS adoption using data from the World Values Surveys. The findings highlight the pivotal roles of professional autonomy, with social trust emerging as a crucial element influencing autonomy. The study also addresses the challenges posed by political interference and recommends clearer regulatory frameworks to mitigate risks associated with professional judgment. Additionally, the paper emphasizes the role of professional confidence, supported by trust in the government and the justice system, in facilitating IFRS adoption. The study suggests that developing countries can enhance their alignment with IFRS by fostering trust, minimizing political interference, and improving societal well-being.
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