Multi-mode standardisation and comparability: Norway's failed attempt to adopt the IFRS for SMEs

Anna Alon, Geir Haaland and Kjell Ove Røsok

Accounting and Business Research, 2022, vol. 52, issue 6, 734-764

Abstract: The coexistence of IFRS and non-IFRS standards has proven challenging at the national level. We utilise a multi-mode standardisation perspective that recognises the interplay of committees, market players, and the government to examine multi-standard financial reporting in Norway and focus on two parallel efforts that introduced proposals to base the national accounting standards on the IFRS for SMEs. In our case, the jurisdictional tensions stem from the broad remit of the government to regulate financial reporting and the ambiguous legal standing of the national standards and of the standard setter. Comparability is often cited as one of the central aims of standardisation in financial reporting. Consequently, how different players utilise the concept is of interest. We find that the scope of comparability that the standards aim to achieve is not given sufficient consideration. The feedback provided with regard to the proposals underscores that the scope of comparability is important for the users of the standards. They focus on the most likely comparisons that are made and want to maintain a national focus and comparability across similar types of companies and industries. They do not regard the standardisation efforts and proposed elimination of standards and options as necessarily beneficial for comparability.

Date: 2022
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DOI: 10.1080/00014788.2021.2001306

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