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A New Institutional Analysis of IFRS Adoption in Egypt: A Case Study of Loosely Coupled Rules and Routines

Kholeif, Ahmed O (2008) A New Institutional Analysis of IFRS Adoption in Egypt: A Case Study of Loosely Coupled Rules and Routines. Working Paper. EBS Working Papers, University of Essex, Colchester.

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Abstract

This paper examines the symbolic use of International Financial Reporting Standards (IFRS) in an Egyptian state-owned company (AQF Co.) that is partially privatised by drawing on new institutional sociology and its extensions. It explains how the ceremonial use of IFRS is shaped by the interplay between institutionalised accounting practices, conflicting institutions, power relations and the use of IT to institutionalizing accounting rules and routines. The research methodology is based on using an intensive case study. Data were collected from multiple sources, including unstructured and semi-structured interviews, direct and participative observations, discussions and documentary analysis. The findings revealed that the company faced conflicting institutional demands from outside. The Central Agency for Accountancy required the company to use the Uniform Accounting System (as a state-owned enterprise) and The Egyptian Capital Market Authority required the company to use IFRS (as a partially private sector company registered in the stock exchange). To meet these conflicting institutional demands, the company adopted loosely coupled accounting rules and routines and IT was used to institutionalizing existing Uniform Accounting System and preserving the status quo.

Item Type: Monograph (Working Paper)
Uncontrolled Keywords: International Accounting, Accounting Standards, International Financial Reporting Standards, Developing Countries, Egypt, New Institutional Sociology.
Subjects: H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Social Sciences > Essex Business School
Depositing User: Users 161 not found.
Date Deposited: 04 Jan 2014 11:58
Last Modified: 04 Jan 2014 11:58
URI: http://repository.essex.ac.uk/id/eprint/8075

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