Factors affecting the application of international financial reporting standards in Vietnamese small and medium-sized enterprises

Abstract

The article analyzes the impact of factors affecting the application of international financial reporting standards in Vietnamese small and medium enterprises, providing more empirical evidence on the factors influencing the application of international financial reporting standards in Vietnamese small and medium enterprises. Research method using questionnaire survey of managers at all levels, chief accountants and accountants of 82 small and medium enterprises in Vietnam, The survey results collected 250 questionnaires. The questionnaires were not valid due to many empty cells, the author chose to use 246 questionnaires. Quantitative research was carried out with SPSS 25 software. The research results showed 7 factors including pressure of international integration, legal system, size of enterprise, professional organizations at home and abroad, Qualifications of accountants, Benefits/Costs of applying international financial reporting standards, Objects and needs of using international financial reporting information all have a positive influence on the application of international financial reporting standards. international financial reporting in Vietnamese small and medium enterprises. Based on the research results, the author has proposed recommendations to contribute to improving the effectiveness of the application of international financial reporting standards for Vietnamese small and medium enterprises.