ABSTRACT We examine the impact of International Financial Reporting Standards (IFRS) in the institutional context of the Central and Eastern European (CEE) member countries of the European Union. Extending prior IFRS research with national or multi-country regional insights from CEE, we investigate both firm-level financial reporting benefits and country-level benefits, together with the cost–benefit relationships involved, following from IFRS adoption. We survey expert professionals employed by Big 4 firms, acting as auditors and/or consultants in the application of IFRS, in locations across ten CEE countries. Financial reporting benefits, which are mainly firm-related, are perceived to have been realised to a higher extent than country-level benefits. Our analyses of micro-level institutional factors suggest that the accounting and auditing profession was the most valuable resource in the IFRS adoption process in CEE. A serious adoption process at the micro-level, signalled by high levels of perceived difficulties and regulatory impediments, along with resources available at the country-level and enforcement initiatives, is associated with financial reporting benefits. Country-level benefits are perceived to have materialised to a higher extent in countries with a lower quality of institutions, but with more organisational enablers available at the micro-institutional level. Benefits are perceived to exceed costs to a lesser extent in larger countries and in those with stronger institutions. This perception might be driven by higher expectations from IFRS in countries allocating more resources to IFRS and already having a more developed infrastructure. Overall, the benefits from IFRS adoption are perceived to overcome the costs in the long term.

中文翻译：

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制度因素和国际财务报告准则的影响：中欧和东欧的经验

摘要我们研究了国际财务报告准则（IFRS）在欧盟中欧和东欧（CEE）成员国的制度背景下的影响。在采用国际财务报告准则之后，我们将利用中东欧的国家或多国区域见识来扩展先前的国际财务报告准则研究，我们调查公司层面的财务报告收益和国家层面的收益，以及所涉及的成本－收益关系。我们在十个中欧和东欧国家/地区调查了四大公司聘用的专业人才，他们在应用IFRS方面担任审计师和/或顾问。人们认为，主要与公司相关的财务报告利益比国家层面的利益实现程度更高。我们对微观制度因素的分析表明，会计和审计职业是中东欧国际财务报告准则采用过程中最有价值的资源。财务报告的收益与微观上的认真采用过程有关，这是由人们普遍意识到的困难和监管障碍，再加上国家一级和执法计划可利用的资源所引起的。人们认为，在制度质量较低，但在微观制度层面有更多组织支持因素的国家，国家层面的利益已在更大程度上实现。在较大的国家和机构更强大的国家中，收益被认为在一定程度上超过了成本。在各国将更多的资源分配给国际财务报告准则并且已经拥有更发达的基础设施的国家中，国际财务报告准则的更高期望可能推动了这种看法。总体而言，从长期来看，人们认为采用IFRS的好处可以克服成本。