This study seeks to shed light on regional variations in the adoption of the IFRS for SMEs, and provide insights into the factors that influence these regional variations. The study adopted a structured literature review approach to seek answers to the following research objectives: to explore adoption approaches of IFRS for SMEs in the different regions across the globe to explore factors contributing to regional variations in the levels of IFRS for SMEs adoption across the globe to identify challenges encountered in different regions during adoption of IFRS for SMEs investigate benefits associated with adopting IFRS for SMEs in different regions across the globe. The review covers the period since the IFRS for SMEs was issued in 2009 until 2023, the results show that only 85 countries are required or permitted to use the IFRS for SMEs and the adoption approach mainly used is through coercive and normative isomorphism, whereby emerging economies adopted the IFRS for SMEs more than developed economies. Major obstacles to adoption include, lack of technical skills among SME accountants, low levels of knowledge and high implementation costs. This study is significant to various stakeholders including regulators, standard setters, IFRS for SMEs users and the academic community as it provides insights into why some jurisdictions adopted the IFRS for SMEs and others seem not interested.

IFRS for SMEs

IASB

benefits

regional

adoption