Task: Debates on whether the converged International Financial Reporting Standards have resulted in harmonised international accounting practices across countries have been growing over the last ten years. Study based in emerging economies, such as China (He et al., 2012), Romania (Albu et al., 2014), India, Pakistan, and Bangladesh (Ali et al., 2006), South Pacific Island countries (Chand, 2005), United Arab Emeritus (Irvine, 2008), and Turkey (M?s?rl?o?lu et al., 2013), have consistently reported the challenge of effectively implementing IFRS in those countries due to country-specific contextual issues. Nobes (2015) also reported challenging issues in implanting IFRS in developed countries. Required From the institutional theory perspective, explain what factors drive the convergence of International Financial Reporting Standards. Review the prescribed list of the research articles (see below), and three more relevant research articles at your choice, explain are the contextual issues of implementing IFRS in emerging economies and in developed countries. Discuss whether the convergence of IFRS will lead to improved financial reporting quality.
Subject Name: Accounting
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