1/16/2018 The adoption of International Financial Reporting Standards in a non-colonized developing country: The case of Nepal - ScienceDirect

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Abstract
Keywords
1. Introduction
2. Research methodology
3. Aspects of the Nepalese accounting environment
4. Summary and concluding remarks
References

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Advances in Accounting
Volume 30, Issue 1, June 2014, Pages 209-216

The adoption of International Financial Reporting Standards in a

non-colonized developing country: The case of Nepal
Ghanshyam Poudel, Andreas Hellmann ⁎ , Hector Perera

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https://doi.org/10.1016/j.adiac.2014.03.004 Get rights and content

Abstract
The purpose of this paper is to provide a systematic and rigorous analysis of the accounting
environment in Nepal. Based on the accounting ecology framework developed by Gernon
and Wallace (1995) and interviewing selected key stakeholders, it critically examines issues
related to the adoption of International Financial Reporting Standards (IFRS) in Nepal. It
contributes to the literature by examining issues associated with the adoption of IFRS in a
non-colonized developing country. This study finds that the decision to adopt IFRS in Nepal
is not driven by the needs of local organizations and is rather imposed by donor
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1/16/2018 The adoption of International Financial Reporting Standards in a non-colonized developing country: The case of Nepal - ScienceDirect

organizations such as the Asian Development Bank, International Monetary Fund and World
Bank. The findings of this study provide evidence that the adoption of IFRS is likely to be
problematic due to the country's contextual environment. Specifically, there is a severe lack
of qualified accountants in Nepal and the accounting profession is not ready to adopt IFRS.
The study also finds that social problems such as widespread corruption and fraud are likely
to cause problems for the adoption of IFRS.

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Keywords
International Financial Reporting Standards; Nepal; Convergence; Accounting practices

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