8. CONCLUSION, LIMITATIONS AND FUTURE RESEARCH DIRECTIONS
This paper aimed to explore major factors that could influence the willingness of IFRS adoption by the Vietnamese policymakers though the perceptions of the Vietnamese accounting community. This paper addresses two research questions. In the first research question, the paper explores the factors that influence the willingness of the IFRS adoption in Vietnam. The study found that the perceived benefits and challenges of IFRS adoption have significant influence on the willingness to adopt IFRS, whereas perceived disadvantages have no significant influence. Further, the readiness of Vietnamese enterprises and the availability of IFRS expertise are seen as a major challenge of the IFRS implementation process in the transition period. The findings present different perspectives coming from locally-trained accountants, foreign-trained accountants, and the accountants working for multinational corporations. Also, it is observed that the accountant’s knowledge of IFRS has a significant effect on their perceived benefits of IFRS and their support for the IFRS adoption. The second research question explores the moderating effects of the legitimacy desire on these influencing factors determined in research question one. The findings support the conclusion that the legitimacy desire positively influences the willingness to adopt IFRS. It can be concluded that if accountants become more interested in legitimate rationale, their concerns about potential disadvantages and challenges of IFRS implementation shall be limited or minimum.
