Challenges and Opportunities for the Implementation of a Unified Accounting System in Pakistan: A Survey Study

Abstract

This research aims to establish the effects of a Unified Accounting System (UAS) on foreign investors’ trust in Pakistan's FDI decision by evaluating the accounting information’s completeness, transparency, consistency, and timeliness. A quantitative survey design was used, and the research instruments included a structured questionnaire with 27 statements about UAS and its impact on FDI. The survey was conducted on the working population of professionals in different organizations in Pakistan and adopted a minimum sample of 90 working people with a stratified random sampling method. Specifically, the study reveals a positive attitude towards implementing UAS in Pakistan, consequently maintaining compliance with international accounting standards and improving the nation’s appeal to foreign investors. The commitments underpin the need for detailed and, where possible, public and up-to-date accounting information that can contribute to a good investment environment. The paper offers significant policy implications for the Pakistani context and any underdeveloped country seeking to enhance its investment climate structures through sound accounting practices.