The Development of Accounting in the Franc Zone Countries in Africa

Elad, C. 2015. The Development of Accounting in the Franc Zone Countries in Africa. The International Journal of Accounting. 50 (1), pp. 75-100. doi:10.1016/j.intacc.2014.12.006

TitleThe Development of Accounting in the Franc Zone Countries in Africa
AuthorsElad, C.
Abstract

This paper develops a taxonomy of the different accounting systems that have evolved in Africa from the colonial era, through the early years of independence, to modern
times. A preliminary test of the classification scheme for the current era of International Financial Reporting Standards (IFRS) was carried out using data from a
PricewaterhouseCoopers (2011) survey. The results confirm Nobes’ (2008) hypotheses on patterns of national reaction to IFRS. The results also show that a distinctive approach to financial accounting, which is alien to Anglo-American
practitioners, and modelled on long-established French traditions, is still entrenched in Africa’s franc zone countries in the 21st century despite sustained pressure from the World Bank and the International Monetary Fund for large entities to adopt IFRS. These findings provide some evidence against Alexander and Archer’s (2000) claim
that the contemporary notion of “Anglo-Saxon accounting” is a myth.

JournalThe International Journal of Accounting
Journal citation50 (1), pp. 75-100
ISSN0020-7063
Year2015
PublisherElsevier
Accepted author manuscriptElad_Development_2015.pdf
Digital Object Identifier (DOI)doi:10.1016/j.intacc.2014.12.006
Publication dates
Published08 Jan 2015

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