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Research Article |

The Factors Influencing the Intention to Adopt International Financial Reporting Standards (IFRS) of SMEs in Ho Chi Minh City, Vietnam

This study investigates the determinants influencing Small and Medium-sized Enterprises' (SMEs) intention to adopt International Financial Reporting Standards (IFRS) in Ho Chi Minh City, Vietnam. Utilizing primary data from questionnaires, the research adopts a methodological framework encompassing descriptive statistics, scale testing, factor analysis, and the use of SPSS for regression and correlation matrix analysis. The focal point of this study is to understand the complex interplay of factors that drive SMEs in a globalized economic setting towards the adoption of IFRS, a global accounting standard that facilitates transparent and comparable financial reporting across international boundaries. While Vietnam has its own Vietnam Accounting Standards (VAS), the shift towards IFRS presents both challenges and opportunities in the realm of global financial integration. The transition from VAS to IFRS is not just a technical change but a strategic move, aligning Vietnamese SMEs with global financial practices. This research provides a comprehensive evaluation of the feasibility, advantages, and obstacles encountered by SMEs in this transition. The findings illuminate various organizational, governmental, and market-related factors that influence this decision. The Vietnamese government's roadmap for IFRS implementation by 2035 highlights the country's commitment to aligning with international financial trends. This paper contributes to the understanding of IFRS adoption among SMEs in emerging economies, offering insights for policymakers and business leaders in navigating this transition.

International Financial Reporting Standards (IFRS), Small and Medium-Sized Enterprises (SMEs), Ho Chi Minh City, Vietnam, Vietnam Accounting Standards (VAS), Globalization

APA Style

Huynh, L. N., Khanh, T. H. T., Hoang, T. X. (2024). The Factors Influencing the Intention to Adopt International Financial Reporting Standards (IFRS) of SMEs in Ho Chi Minh City, Vietnam. Journal of Finance and Accounting, 12(1), 1-11.

ACS Style

Huynh, L. N.; Khanh, T. H. T.; Hoang, T. X. The Factors Influencing the Intention to Adopt International Financial Reporting Standards (IFRS) of SMEs in Ho Chi Minh City, Vietnam. J. Finance Account. 2024, 12(1), 1-11. doi: 10.11648/j.jfa.20241201.11

AMA Style

Huynh LN, Khanh THT, Hoang TX. The Factors Influencing the Intention to Adopt International Financial Reporting Standards (IFRS) of SMEs in Ho Chi Minh City, Vietnam. J Finance Account. 2024;12(1):1-11. doi: 10.11648/j.jfa.20241201.11

Copyright © 2024 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License ( which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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