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Transition to IFRS in the Republic of Moldova: general and practical aspects

Author

Listed:
  • Olesea Ghedrovici
  • Svetlana Mihaila
  • Lica Erhan
  • Aliona Birca

    (Academy of Economic Studies, Moldova)

Abstract

Implementation of IFRS was a controversial process in many countries. The case of the Republic of Moldova is not an exception from this rule. The initially established time framework (year 2009) for IFRS implementation could not be respected due to some objective reasons and it was postponed for 2011. However, even this 2-years postponement did not create all necessary conditions and bases for uncomplicated first-time application of IFRS. Insufficient number of chartered accountants who know the IFRS’ rules and principles and how to apply them in practice, fiscal instability caused by frequent legislative changes, limits imposed by existing outdated IT systems and other factors in line with accounting traditions and perceptions give birth to many questions and difficulties in IFRS implementation in the Republic of Moldova. Authors describe the major obstacles and particularities of this process in the article, basing on analysis of regulatory framework, personal experiences and case study of the entity which applies IFRS since 2011.

Suggested Citation

  • Olesea Ghedrovici & Svetlana Mihaila & Lica Erhan & Aliona Birca, 2014. "Transition to IFRS in the Republic of Moldova: general and practical aspects," Journal of Accounting and Management Information Systems, Faculty of Accounting and Management Information Systems, The Bucharest University of Economic Studies, vol. 13(2), pages 259-280, June.
    • Handle: RePEc:ami:journl:v:13:y:2014:i:2:p:259-280
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    Citations

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    Cited by:

    1. Golubeva, Olga, 2023. "Accounting for transition: A literature review," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 51(C).
    2. Viorel TURCANU & Irina GOLOCIALOVA, 2016. "Accounting truth and its assurance in entities from the Republic of Moldova," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 14(139), pages 769-769.
    3. Luminita Rus, 2017. "Romanian Accounting On Both Sides Of The Prut," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 221-228, December.
    4. Kocsis, David, 2019. "A conceptual foundation of design and implementation research in accounting information systems," International Journal of Accounting Information Systems, Elsevier, vol. 34(C), pages 1-1.

    More about this item

    Keywords

    IFRS; transition; Republic of Moldova;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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