Measurement of Formal Convergence of Vietnamese Accounting Standards with IFRS

Anh Tuan Nguyen and Guangming Gong

Australian Accounting Review, 2014, vol. 24, issue 2, 182-197

Abstract: type="main">

Convergence refers to the process of narrowing the differences between International Accounting Standards/International Financial Reporting Standards (IAS/IFRS) and country-specific accounting standards. The purpose of this study is to measure the formal convergence between Vietnamese Accounting Standards (VAS) and IAS/IFRS using a fuzzy-based approach. We assess the extent of convergence between VAS and IAS/IFRS from the perspective of a single standard, clusters of standards and the standards as a whole. The levels of standards convergence are clustered into four categories: full convergence, substantial convergence, substantial difference and complete difference. Our results indicate that the level of convergence between the two sets of standards only achieves mid-level convergence. The findings of this study should help policy makers improve VAS to meet international standards.

Date: 2014
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