Financial Reporting and Mimetic Theory for Small and Medium Enterprises

This study demonstrates that in spite of the complexity of the International Financial Reporting Standards for small and medium enterprises which outweighs the accounting expertise and the level of business growth encountered in emergent countries, and of the tentative opinions expressed by certain groups of regulators, preparers of accounts and financial reporting users on the adequacy of implementing the standard in the pre-issue period, the regulators from emergent countries significantly adopted it in the post-issue period. The argument lies in the mimetic theory which suggests that emergent countries tend to embrace unreservedly the concepts or trends supported by majority groups or originating from developed countries.