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What type of microfinance institutions comply with International Financial Reporting Standards?

Magloire Nya Tchatchoua, Isabelle Pignatel and Hubert Tchakoute Tchuigoua

No 19-012, Working Papers CEB from ULB -- Universite Libre de Bruxelles

Abstract: What are the characteristics of microfinance institutions (MFIs) that choose to draft their financial statements according to international accounting standards? That is the question this article investigates. We study a pooled sample of 5,290 audited financial statements from 2007 to 2015 and find consistent evidence that the institutional framework, for-profit status, and maturity, are likely to drive the MFIs choice to comply with international financial reporting standards. Results are robust after controlling for whether MFIs operate in a country where IFRS are permitted or required.

Keywords: IFRS; Microfinance; Audit (search for similar items in EconPapers)
JEL-codes: G21 G34 L31 M42 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-acc, nep-ban, nep-bec and nep-mfd
Date: 2019-05-10
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