Welcome to the Blog of Solomon Zori. I thank you for your interest in my work.

There is great ambiguity on the true representation of the ‘’adoption’’ of International Financial Reporting Standards (IFRS). What constitutes the ‘’adoption’’ of IFRS? At what point can a country, company or entity claim to have adopted IFRS? What is the best measure for IFRS adoption? International diffusion literature and transnational governance literature provides insights as to the point of departure of how global norms are translated into local laws. It suggests that laws, norms, ideas or global regulations when diffusing turn to be reshaped and edited as they are transformed into local practices. To be exact, actors translate ideas, recombine new, externally given elements and old locally given ones to form local laws. Scholars in this arena argue that, in this context, never can we suggest that passive adoption of global standards has taken place. Yet, in many other contexts, actors at both the local level and the transnational level have tended to ref...

Why should Africa adopt IFRSs? Adoption is less of the story.. not practicing what you preach is the bigger evil. In the past decade the rise in the use of the International Financial Reporting Standards IFRS  in many countries around the world has moved the wave towards developing countries considering adopting these standards. Factually, about 120 countries presently use IFRS across the globe. Out of this number about 13 countries in Africa have already adopted (i.e as issued by the IASB without any modification) or adapted (.i.e with modification to meet local socio-economic needs of a particular accounting jurisdiction) to IFRS.The map below indicates the diversity of accounting system classification in Africa. Primarily, former anglo-saxon colonies have adopted IFRSs whiles the Francophone,  Portuguese  and the Belgian former colonies are uninterested in IFRS. Data Source: PwC IFRS Jurisdiction map, own drawings However, it is quite surprising that Af...