Abstract
This paper examines the ongoing transition to the revised Organisation for the Harmonisation of Business Law in Africa Act on Accounting and Financial Reporting for companies in general and to the International Financial Reporting Standards for listed and group companies with a particular focus on recent institutional developments and corporate concerns. The study used 80 professional accountants, most of whom were members of the Institute of Chartered Accountants of Cameroon and academics. Using the descriptive statistics, the study shows that the transition to the revised OHADA brings about a high level of comparability and transparency of the financial statements, that the International Financial Reporting Standards can be implemented in Cameroon (but not fully), and that the benefit of the transition exceeds the cost.
Highlights
The global wind of economic integration is at the doorstep of the accounting profession with intense pressure on nations and states to apply unified accounting standards
This study aimed at investigating the perception of accounting practitioners on the transition from the former OHADA Uniform Accounting Act to the revised () OHADA Act on Accounting and Financial Reporting and to International Financial Reporting Standards (IFRS), taking into account their opinion on the extent to which the transition to IFRS would improve the transparency and comparability of the reported financial statements
It looked at the extent to which the International Financial Reporting Standards can be completely implemented fully in the economy of Cameroon as a whole given its level of resources and within the stated time
Summary
The global wind of economic integration is at the doorstep of the accounting profession with intense pressure on nations and states to apply unified accounting standards. The study sets out to investigate the perceptions of Accountants in Cameroon on the transition to the International Financial Reporting Standards, since the clients who fall within this group were required to implement IFRS as of January 2019 (OHADA Uniform Acts 2016; AICPA 2019). A cut off 2.5 on a scale of 5 was adopted for the analysis of close-ended items This stipulates that items with a mean lower than 2.5 exclusively were considered to imply a negative perception on the transition to IFRS as per the SPSS analysis on the main objective. To achieve this aim, the information presented was guided by the study objectives. Descriptive statistics analysis was used to analyse, interpret and discuss the results from the data collected in line with the study objectives so as to enable the researcher to report the results in detail
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
