Adoption of ifrsin Vietnam: Challenges for the accounting profession

• Main Authors: Lê, Thị Thuỳ Dung, Hà, Thị Thanh Huyền, Nguyễn, Diệu An, Châu, Thị Hải Yến
• Other Authors: Nguyễn, Trà My
• Format: Conference or Workshop Item
• Language: Vietnamese
• Published: 2020
• Subjects: Accounting; Business
• Online Access: http://repository.vnu.edu.vn/handle/VNU_123/95342
• Institution: Vietnam National University, Hanoi

The adoption of IFRS means there will be changes in the work requirement of accountants. There will be a need for accountants to update their knowledge,professional skills, and experience. With the anticipated increase in financial reporting transparency that is likely to follow the IFRS adoption, accountants are expected to show higher sense of responsibility and accountability over financial information in order to align with the international standards, requirements, and expectations.Researching the changes in the work requirement of accountants that are relevant to the IFRS adoption is essential for facilitating a smooth transition to IFRS and, more importantly, for upgrading the expectations of young accounting graduates. Students that finish accounting courses and wish to build their careers as accountants will be faced with new expectations once Vietnam successfully adopts IFRS. It is important that these students learn about what will be expected of them once they graduate.Therefore, this topic bears a paramount importance and is highly practical for Vietnamese students studying towards a degree in Accounting.