Adoption of IFRS in Vietnam: Difficulties and solutions for universities educating and training accounting

Abstract

 Adoption of International Financial Reporting Standards (IFRS) has been becoming popular throughout the world. IFRS has brought enormous benefits in promoting the transparency in accounting information and creating the global accounting language, then it helps to save huge social expenses and make it easier in comparing financial reports among countries. However, the adoption of IFRS will arise many difficulties for Vietnam, a developing country. Currently, Vietnamese enterprises are mainly applying Vietnamese accounting system with a big difference compared to IFRS. An addition, most of accountants have not been trained in ifrs so not yet willing to apply IFRS. To the extent of this paper, we discuss the difficulties in training accounting resources and recommend necessary solutions for universities in the first phase of IFRS adoption in Vietnam.