Change Efficacy, Change Valence, Contextual Factors, Management Support and Readiness of SMEs To Implement IFRS In Nigeria: A Conceptual Study on The Moderating Effects Implementation Strategy

This study aims to develop a conceptual framework to identify the readiness of SMEs to implement the International Financial Reporting Standards (IFRS) in connection to Change efficacy, change valence and contextual factors, and Management Support. The study proposed a conceptual model adopted and modified from the work of Wainer (2009) by considering the implementation strategy. It is expected that the readiness will be enhanced. Moreover, non-implementation of the standards will make the comparability of financial statements of SMEs among countries difficult for investment analysis. Based on the literature reviewed, we have used the organizational readiness for change theory to conceptualize the relationship between the variables. Most previous studies considered only the direct connection between the variables and in listed entities. The goal of this study is to add to the existing body of knowledge, enable owners of SMEs to know the level of readiness in terms of IFRS implementation and regulators & the standard-setting bodies to use this information to detect the information of the entities which are reluctant or ready to implement the IFRS for SMEs.