Assessing international accounting harmonization in Latin America

We use a conceptual framework based on institutional theory to assess international accounting harmonization in Latin America by interviewing key informants. We analyse the situation in 13 countries of the Group of Latin American Accounting Standards Setters. Some countries have effected full formal adoption of International Financial Reporting Standards (IFRS). In others IFRS are not permitted. In several countries, IFRS are supplemented by national standards for micro-entities and cooperatives. Material harmonization will be difficult to achieve due to a lack of trained accountants, unreliable enforcement systems, and competing institutional logics related to taxation systems, and the banking and insurance industries.This work was supported financially by the research unit on Governance, Competitiveness and Public Policy (project POCI-01-0145-FEDER-006939), through funds provided by COMPETE2020 - Programa Operacional Competitividade e Internacionalizacao (POCI); and Fundacao para a Ciencia e a Tecnologia, Portugal.