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Dominance
Understanding the dominance of of Western
Western accounting and neglect accounting
of Islamic accounting in Islamic
99
countries
Ghada Altarawneh
Department of Accounting, Faculty of Business Administration,
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Abstract
Purpose – This paper seeks to explore the reasons for the dominance of Western accounting and
neglect of Islamic accounting in Islamic countries, using Jordan as a case study.
Design/methodology/approach – The paper reports the results of a series of interviews, using a
semi-structured questionnaire, with senior members of the accounting regulatory regime in Jordan.
The interview data are supplemented by relevant secondary (documentary) data.
Findings – The paper concludes that economic dependency on developed Western nations and
their international agencies is the major factor determining accounting policy and practice in
Jordan.
Research limitations/implications – The main limitations of this study are the uncertainty
concerning the extent to which the respondents’ views are representative of accounting policy makers
in Jordan, and the inevitable degree of subjectivity involved in evaluating the relative impact of
economic dependency and other factors on accounting policy in Jordan.
Originality/value – The paper enhances understanding of the neglect of Islamic accounting in
Islamic countries and provides insights into the prospects for and barriers to wider adoption of Islamic
accounting in future.
Keywords Islamic accounting, Western accounting, Developing countries, Colonialism,
Economic dependency, Jordan, Accounting
Paper type Case study
1. Introduction
The idea that accounting is a neutral unbiased technology has long been rejected by
scholars (Scott, 1931) because accounting is influenced by various factors including the
political and economic interests of particular groups in society (Lehman and Tinker,
1987; Cooper, 1980; Susela, 1999). Hopwood and Miller (1994, p. 1) state:
[. . .] accounting is no longer to be regarded as a neutral device that merely documents and
reports “the facts” of economic activity. Accounting can now be seen as a set of practices that Journal of Islamic Accounting and
Business Research
affects the type of world we live in, the type of social reality we inhabit, the way in which Vol. 3 No. 2, 2012
we understand the choices open to business undertakings and individuals, the way in which pp. 99-120
q Emerald Group Publishing Limited
we manage and organize activities and processes of diverse types, and the way in which we 1759-0817
administer the lives of others and ourselves. DOI 10.1108/17590811211265920
JIABR In other words, accounting is an important economic tool reflecting the interests and
3,2 viewpoints of many interested parties. Many studies (Cooper, 1980; Susela, 1999) have
provided evidence of various interests in different contexts. Accounting derives its
usefulness from its ability to reflect the social, cultural, and economic aspects of the
organizations on which it reports. Each country (society) has its own political, economic
and cultural values, which requires the economic goals and the information needed to
100 achieve them to be different in different societies. Thus, transferring accounting that
reflects the socio-economic and cultural values of developed nations to developing nations
has been criticized by various scholars as being unsuitable and irrelevant for developing
nations (Briston, 1978, 1990; Hove, 1986; Samuels and Oliga, 1982; Wallace, 1990) and
particularly to those whose societies are bounded by specific religious principles in their
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As the literature review which follows this introduction indicates, a number of writers 101
have suggested that economic dependency is self evidently the explanation for the
adoption and continued use of Western accounting in developing countries. However,
there are as, indicated above, a number of competing explanations, none of which have
been conclusively supported or refuted by previous research and this is the justification
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2. Literature review
Many efforts have been made to explain the reasons for international differences in
accounting practices and regulation and the factors that influenced the accounting
approach in a particular country (Nobes, 1998; Gray, 1988; McKinnon, 1986; Cooke and
Wallace, 1990, and others). These writers argue that accounting in a country is
influenced by various external and internal factors. Internal variables include the stage
of economic development, goals of society, legal rules, economic systems, and cultural
variables. External factors are “those factors that are likely to make accounting
regulators in a country ignore or give less emphasis to internal factors” (Cooke and
Wallace, 1990, p. 82), such as colonial history, the influence of multinational corporations,
and the impact of regional economic communities such as international trade
communities, membership and participation in international organizations as well as the
effects of international governing and globalizing of accounting around the world.
A number of researchers have also suggested that accounting regulations in
developing countries are more likely to be a result of the demands of foreign corporations
that attempt to invest in these countries. This may be because of the exclusive
dependency of these developing countries on external financial sources and assistance
for survival by organizations such as the World Bank (WB, 2004) and the International
Monetary Fund (IMF). In contrast, countries with plenty of resources, advanced
technologies and professional experience in the accounting field are more likely to develop
their own accounting regulation.
In short, there is a consensus among researchers that accounting in developing
countries is an outcome of various external and internal factors, which have also been
identified as hindrances/obstacles that limit the opportunity for developing countries to
develop or improve their own accounting approach, and consequently contributed to the
dominance of Anglo-American accounting worldwide.
Some researchers argue that imperial legacies are a major barrier to the process of
localizing accounting professional bodies (Annisette, 2000; Bakre, 2005, 2006; Carnegie and
Parker, 1999). Annisette (1996) investigated the circumstances surrounding the localization
JIABR of the accounting profession and training in Trinidad and Tobago. She observes that the
3,2 traditional ways of qualification have been criticized by both the business community and
the government as being irrelevant and unsuitable for Trinidad and Tobago’s
environment. She concluded that the influence of imperialism and the dominance of
Western accounting continue to be the major obstacles facing any localization plans in
many former colonies. Further, the study indicates that the Western accounting framework
102 is inappropriate for the country’s socio-political and economic environment.
Briston (1978) illustrates how accounting systems in Nigeria and Sri Lanka have been
formed by colonialism (British colonization). Accounting in these countries still copies
the British accounting principles and systems even after independence. Briston criticizes
the adoption of “British” accounting (as he refers to it) by other nations that have
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different economies, cultures and even values. He points out that British accounting has
been criticized by its own society (Western nations, Western scholars) for not being free
of bias and of causing many problems (Briloff, 1990; Miller and O’Leary, 1987). He adds
that if this accounting creates problems for the economy that it is supposed to serve and
whose values it represents, how can it be employed to serve different socio-economic
contexts. Similarly, Balachandran (2007) provides further evidence on the influence of
imperialism and the colonization legacy on accounting system (particularly management
accounting) adopted in the country even after Sri Lanka achieved its independence.
Some studies, such as that by Loft and Aggestam (2007), are concerned with
understanding the role of certain international organizations in attempting to globalize
and govern accounting around the world. In the colonialist age, accounting techniques
and practices were one of the significant capitalist instruments that had been employed
by the colonizers to support the procedures of accumulating profit by imperialist nations
(Neu, 1999). In order to continue to protect the interests of imperialists after the
independence of many developing countries, different mechanisms are needed and the
formation of international institutions such as the World Trade Organization (WTO), WB
and IMF serve the purpose. These international institutions have insisted that the
Member States (particularly developing countries) employ the International Financial
Reporting Standards (IFRS) as a benchmark for their accounting system. Thus,
developing nations are obliged to adopt this sort of accounting, ignoring its suitability for
their particular socio – economic situation (Loft and Aggestam, 2007).
Ashraf and Ghani (2005) consider the factors that influenced the origins, development
and growth of accounting practices and disclosures in Pakistan. These researchers
discuss how the colonial epoch and more recently, some international financial
institutions, have influenced and shaped the country’s accounting and reporting
practices. They found that besides the colonial milieu of the country, accounting
practices in Pakistan have been influenced by international financial institutions, such
as the WB and IMF, essentially because of Pakistan’s political relationship with the USA
and the Western world. Consequently, as demonstrated by Ashraf and Ghani (2005), the
impact of Pakistan’s cultural values on the accounting system cannot be identified
clearly because of Pakistan’s colonial past and its need for Western financial assistance.
Essentially then, previous studies have tended to suggest the significant impact of
various international capitalist institutions on the accounting policy of developing countries.
However, what is missing in the literature are the possible reasons for Islamic
accounting not being adopted by developing Islamic countries, despite the growth and
global acceptance of Islamic financial instruments.
There are a number of other logical possibilities for the continued dominance Dominance
of Western accounting. First, it may be attributed to ignorance of the alternatives, of Western
including the existence of Islamic accounting. It may be that, for many people, Western
accounting is accounting. Haniffa and Hudaib (2010) are acutely aware of this possibility accounting
in writing the editorial for the launch of the inaugural issue of the Journal of Islamic
Accounting and Business Research. The rationale for their editorial paper (and indeed the
new journal itself) is that “it is useful to new readers of the journal around the world, who 103
are interested but have limited knowledge in the area”.
A variation on the ignorance of alternatives theme, is that the situation may be
explicable in sociological rather than economic terms, in particular, in terms of the
“institutional isomorphism” proposed by advocates of New Institutional Sociology (NIS)
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such as DiMaggio and Powell (1983). These authors identify what they describe as
“mimetic processes”. Uncertainty is a powerful force that encourages imitation. Faced
with uncertainty and ambiguity in our interpretation of the world around us, it is
difficult to know what to do. Consequently, it is best to do whatever everybody else does
(or at least what a model or exemplar entity or country does).
Forrester (1996) has discussed how this occurs in the field of financial accounting.
There has, for example, been a strong tradition within continental Europe of looking at
what the neighbours are doing and adopting their solutions for one’s own use.
DiMaggio and Powell (1983) also identify what they call “normative processes”. This
isomorphism stems primarily from “professionalization”: the collective struggle of
members of an occupation to define the conditions and methods of their work and to
establish a cognitive base (i.e. way of looking at the world) and legitimation for their
occupational autonomy. Two aspects of professionalization are important sources of
isomorphism. One is the resting of formal education and of legitimation in a cognitive
base produced by university specialists or professional associations. The second is the
growth and elaboration of professional networks that span organizations and countries
and across which new models diffuse rapidly.
Universities and professional training institutions are important centres for
the development of organisational norms among professional managers and their
staff. Professional and trade associations are another vehicle for the definition and
promulgation of normative rules about organisational and professional behaviour. Such
mechanisms create a pool of almost interchangeable individuals who occupy similar
positions across a range of organizations and possess a similarity of orientation and
disposition (Lucas, 2005). Could this explain the adoption of IFRS by Islamic developing
countries? In 1997, the Arab Society of Certified Accountants called for all of its 22 member
countries to adopt international accounting standards (then IAS, now IFRS) as their
national GAAP, in the “Dubai Declaration”. This would seem to be an example of
“normative processes and/professionalization” in action. Conversely, the Accounting and
Auditing Organisation for Islamic Accounting Institutions (AAOIFI), has not wielded
much influence.
Another possible reason is the rational choice theory or the cost-benefit calculus. It is
prohibitively expensive for a small developing country with limited resources to develop
its own accounting standards, when a set of internationally recognised, high quality
standards already exists (i.e. IFRS) (Allingham, 2002). An example is the AAOIFI’s
decision to adopt existing (IFRS) standards and only address aspects that are not shariah
compliant, rather than to start from scratch, based on the shariah.
JIABR The third reason may be attributed to the cost of capital minimisation argument. It is
3,2 possible that using an internationally recognised set of high quality accounting
standards, such as IFRS, may help reduce investor risk and thereby lowers the cost of
capital for companies (Leuz and Verrecchia, 2000). Globalisation of corporations means
that shares are traded on international capital markets (Dos Santos, 1971) and investors
will choose to invest in countries deemed to have low risk. It is widely accepted that
104 developing countries pose higher risk to investors due to a variety of national differences
in economic structures, policies, socio-political institutions, geography, and currencies.
Since Islamic finance and banking is a relatively new phenomenon, with strict
religious rules, investors are more cautious of the additional risks involved. Hence,
adopting an established accounting system and accounting standards will help gain
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4. Research method
In order to carry out this research, a number of senior members of the various
organizations constituting the accounting regulatory regime in Jordan were interviewed.
The primary research instrument employed was a semi-structured questionnaire,
constructed using the implied testable propositions of dependency theory/neocolonialism.
Dependency theory has two aspects. First it asserts the fact of economic dependency of
“periphery” (i.e. relatively poor, developing) countries on “core” (i.e. developed, Western)
countries, in particular former colonial powers. Second, it asserts that the “core” countries
intentionally pursue policies to keep “periphery” countries poor and dependent, in
order to continue economic exploitation of them, even after the notional granting
of “independence”.
In this research, we are not considering the second aspect of dependency theory; we
are focusing instead on the first aspect: the fact of economic dependency and whether
this provides the most cogent explanation for Jordan’s adoption of Western accounting
and relative neglect of Islamic accounting.
Consequently, the semi-structured questionnaire used for data collection was
designed to capture the requisite information concerning the testable propositions
implied by the first aspect of dependency theory. The main categories of questions asked
(reflecting the testable propositions implied by dependency theory) are shown in the
Appendix. Data collected by using this questionnaire was supplemented by documental
data (using documents and web sites of the selected case studies (organizations).
Employing multiple data collection methods or data sources facilitates triangulation,
which increases the validity of the findings ( Janesick, 1998). The combination of
different methods, including semi-structured interviews and use of documentary data,
allowed the researchers to match the interviewees’ responses with the documentary
evidence, as well as looking for any contradiction between what the researchers were
told and what was revealed by other publicly obtainable resources.
Semi-structured interviews are conducted within a fairly open framework, thus, the
questions that have to be asked are not always prepared in advance. Many of the
questions are generated during the interview, which gives both the interviewer and
the participant the flexibility to investigate and discuss further details or other issues,
unlike the structured interview, where all questions are compiled and planned ahead of
time. Nevertheless, sometimes the interviews take the form of a conversation rather than
a question and answer technique.
JIABR
Time
3,2 Total debt service External debt Official development assistance
(percentage of exports of goods, stocks, total and official aid
Series services and income) (current US$) (current US$)
1960 – – 88,290,000
106 1961 – – 91,790,000
1962 – – 81,730,000
1963 – – 82,650,000
1964 – – 75,550,000
1965 – – 68,950,000
1966 – – 73,840,000
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1967 – – 53,500,000
1968 – – 45,730,000
1969 – – 48,530,000
1970 – 119,092,000 80,080,000
1971 – 153,349,000 57,300,000
1972 7 180,465,000 103,040,000
1973 8 214,802,000 188,860,000
1974 5 270,699,000 273,500,000
1975 4 342,815,000 424,220,000
1976 3 432,464,000 482,220,000
1977 5 796,334,000 368,290,000
1978 6 1,111,303,000 431,760,000
1979 8 1,417,948,000 1,299,800,000
1980 8 1,866,842,000 1,275,370,000
1981 10 2,186,349,000 1,064,470,000
1982 9 2,648,432,000 798,130,000
1983 12 3,021,412,000 786,650,000
1984 13 3,286,370,000 686,360,000
1985 17 3,943,827,000 537,270,000
1986 19 4,831,644,000 562,920,000
1987 24 6,261,594,000 576,490,000
1988 31 5,918,248,000 415,680,000
1989 20 7,316,082,000 275,460,000
1990 20 8,332,910,000 885,970,000
1991 24 9,700,260,000 938,320,000
1992 20 7,966,938,000 424,390,000
1993 15 7,644,546,000 309,480,000
1994 14 7,553,124,000 372,030,000
1995 12 7,660,562,000 539,130,000
1996 18 7,385,455,000 506,580,000
1997 16 7,313,840,000 462,380,000
1998 16 7,560,998,000 411,360,000
1999 10 8,083,091,000 432,050,000
2000 13 7,354,865,000 552,450,000
2001 11 7,534,261,000 449,020,000
2002 8 8,108,224,000 536,810,000
2003 16 8,337,366,000 1,247,760,000
2004 8 8,066,184,000 601,510,000
Table I. 2005 6 7,696,176,000 668,060,000
Jordan’s external debt 2006 6 8,000,140,000 579,980,000
and aid (continued)
Dominance
Time
Total debt service External debt Official development assistance of Western
(percentage of exports of goods, stocks, total and official aid accounting
Series services and income) (current US$) (current US$)
other Islamic financial institutions in Jordan need personnel that are qualified and
prepared by academic institutions to work in such institutions. The pilot study revealed
that there is a significant need for developing Islamic accounting, particularly for Islamic
financial institutions. Also, it revealed that the Islamic sector in Jordan representing
banking and insurance companies, does pay a high cost to train and teach its new
employees to work in such an Islamic system, and this difficulty could be resolved if Dominance
policymakers, accounting academics and professionals in Jordan were to take this issue of Western
more seriously.
accounting
4.3 Carrying out the main interviews
During the period of six months from August 2009 to February 2010, 28 semi-structured
interviews were conducted, lasting between one and one and a half hours each. All the 109
interviews were carried out face to face. Most of the interviews were tape recorded and all
were transcribed, translated from Arabic to English and then coded using the Nvivo-7
software package for qualitative data analysis.
Following initial contacts by telephone to determine the willingness of the
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analysis method of coding and re-coding using the Nvivo 7 software package.
A deductive analytical approach using the dependency theory framework generated a
set of codes and helped in the identification of themes/important ideas from the data.
A relevant theory is one whose (predicted) categories fit or come to match the data
which can be employed to clarify, predict, and interpret what is going on (Glaser, 1978;
Yin, 1994).
111
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Figure 1.
Strategies of the research
analysis process
Note: n is the number of case studies
impose different obligations and conditions to be satisfied by Jordan, such as the adoption of
IAS, privatization, global economic policy, etc. Jordan has no choice but to accept these policies
to get the necessary funding”. He added “as I said, we are an economically weak country; we
need foreign funding and loans, so we have to accept the conditions of powerful parties and
their policies” (Aca.A.5).
In general, to get foreign aid and required funding, Jordan does need to adopt the financial and
economic approaches of international financial institutions and donors, to convince the global
economy and international parties of the reliability of its financial and economic policy, thus,
Jordan has adopted the IAS as its accounting system in addition to other international policies
which already have been developed and employed by those developed states and donor parties
(Gov.JSC.13).
Jordan is a heavy beneficiary of foreign aid and dependent on it to cover, for instance,
governmental budget deficits. This crucial need forced Jordan to meet the international
requirements of the international organizations and countries. Thus, Jordan must correspond
with and adopt different international policies and criteria, in order to encourage the donors to
help Jordan through financial aid and assistance. For instance, the World Bank and
International Monetary Fund have required all their members and those countries that asked
them for assistance to adopt the International Accounting System besides many other
obligations (Gov.MOF.2).
Jordan, like many developing poor nations, has to obey the international institutions, such
as the WB, IMF and WTO, and adopt a number of strategies to accomplish its commitment
towards these global organizations, to get the necessary funds and to follow its dream of
improving and developing the Jordanian economy and people’s lives (Aca.H.12).
As the above quotes indicate, the provision of assistance and aid given by
international institutions to the less developed nations relies on the willingness of
these countries to undertake various social, cultural, economic and political changes. In
1999, the WB and IMF instigated the mutual “Reports of the Observance of Standards
and Codes” initiative. This covers 12 areas and associated standards that need to be
adopted by countries receiving aid, including the area of “Accounting and Auditing”.
This mandates the adoption of the IASB’s accounting standards’ and the International
Federation of Accountants’ International “Standards on Auditing”. The WTO also
“encourages” the adoption of IFRS (1996). Effectively, the WTO works with the WB and
IMF to enforce adoption of IFRS by its members:
Different organizations and institutions, such as the IMF, WB, WTO and USAID, have played
a significant financial and technical role in deepening and enhancing Jordan’s adoption of
JIABR international economic and financial policies. Normally, for example, the IMF and WB send
some groups to member states, to review, monitor and observe their financial and accounting
3,2 system and annual economic developments (Gov.CBJ.7).
Thus, Jordan has been guided by various international institutions that work
complementarily, in reforming its economic, legal and financial system to suit the plans
and agendas of a global economy. For instance, Jordan is obliged to integrate the arena
114 of the global economy and open market and adopt the structural-adjustment program
(SAP) specified by the IMF and WB. This has a great impact on the way accounting is
regulated and operated in Jordan:
In Jordan, the World Bank is concerned with reforming the public sector. Thus, the Public
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Sector Reform Loan II (PSRL II) has been designed by the World Bank, which specified a
significant amount of its financial assistance, which concentrated on programming and
budget preparation, civil service and administrative reform, expenditure and judicial reform
(Gov.JSC.14).
To fully and properly implement privatization and the policy of an open economy, and
guarantee its accomplishment, Jordan renovated and created different laws and regulations,
such as the 1997 Company Law, the 2002 Securities Law and established three institutions
( Jordan Securities Commission, the Amman Stock Exchange, and the Securities Depository
Commission) which are responsible for several tasks, one of them being the setting and
enforcing of accounting regulations, which in turn has led fully to the adoption of the
International Accounting Standards (Gov.JSC.13).
Furthermore, USAID has assisted the Government of Jordan to satisfy the
requirements of the WTO, US-Jordan FTA and foreign investments, through[1]:
.
assisting with the reform of laws, policies, and institutions to fully support the
objectives of Jordan’s membership in the WTO and its trade agreement with the
USA;
. providing technical assistance and training to the GOJ, particularly the Central
Bank, Ministry of Finance, and trade and investment institutions, to meet market
and framework demands;
.
creating new laws and institutions that can provide efficient and effective public
services for investors;
.
encouraging the continued development of laws, policies, and institutions that
are responsive to private sector issues, particularly those of the financial and
capital markets;
. providing technical assistance and training to support GOJ efforts to modernize
its infrastructure and service efficiency;
.
working with key financial and capital market institutions to introduce more
advanced financial instruments to the market, including tradable mortgages,
securitization tools, various securities mechanisms (e.g. mutual funds, futures,
swaps), and tradable debt portfolios;
.
developing strong systems for financial market regulation, including
(anti-)money laundering; and
. maintaining support for the GOJ’s Executive Privatization Unit’s efforts to
privatize state-owned companies.
In summary, the adoption and persistence of a Western accounting approach (and Dominance
specifically IFRS), and the failure to detect a significant impact of Islam on accounting of Western
practices/education in Jordan, even after independence, is a consequence of Jordan’s
dependency relationship with Western capitalist countries, and Jordan’s integration into accounting
the global economy, in the interests of those capitalist countries. Jordan’s significant
need for international aid and loans has been exploited by developed Western nations
and their agencies to compel Jordan to integrate into the global economy and adopt/fulfill 115
different international policies/obligations, such as the policy of open economy,
privatization and so on as a strategy for serving/securing the capitalist and geopolitical
interests of Western capitalist nations. This has been achieved by various mechanisms
(the “stick and carrot” strategy) such as international aid, loans, trade agreements, debt
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amnesty, open economy and foreign investment, which are created and developed by
Western nations as part of their geopolitical and capitalist exploitation and interests:
Jordan has adopted or rather has been compelled to apply different economic and political
changes as a result of the insistence of international organizations, such as the World Bank
and the International Monetary Fund on furthering and demanding the use of such policies.
These policies have done more damage to our society instead of enhancing and developing its
circumstances. From my point of view, if developing countries, such as our country, had
developed their own programmes and policies depending on their national circumstances,
I think the result would be much better than now, and ensure we would have kept our dignity
and freedom, which we have lost owing to international institutions (Aca.A.4).
The WB, IMF, WTO, etc. have been founded to serve the interests of specific capitalist
groups, to draw the world economy into becoming a promoter of some countries to the
disadvantage of others. This fact has contributed to controlling the choices and capacities of
Jordan and limiting its alternatives for developing or adopting the relevant accounting and
economic policy that reflects the values of Muslims in this country (Aca.A.4).
Jordan’s forced integration into the global economy has influenced accounting policy in
Jordan in two ways:
(1) Directly: the adoption of Western accounting is considered an important step to
accomplish Jordan’s integration into the global economy and satisfy the
requirements of the international financial institutions such as the WB, IMF, WTO,
MNCs and dominant partners (such as the USA).
(2) Indirectly, Jordan is still unable to develop or adopt its own economic and
accounting policy that reflects the indigenous values and demands of Jordanian
people, as a result of the negative outcomes of this integration, which has
strengthened Jordan’s dependency on the Western agencies, and impacted
negatively on its economic and financial circumstances. Jordan’s economy and its
limited natural resources are now under the control of Western multinational
corporations and international financial institutions. As a result, accounting and
economic policies in Jordan symbolize the values and principles of the capitalist
system and the objectives of dominant nations and their agencies.
education, etc. (even after independence) which also participated in strengthening the
domination and superiority of western accounting in these regions, up to today, and restricted
the opportunity of Jordan and other developing countries to develop their own accounting
system that suits and represents their cultural, economic and social values (Aca.H.9).
Note
1. USAID/Jordan Strategy 2004-2009: USAID Mission to the Hashemite Kingdom of Jordan
Strategic Direction of the US Foreign Assistance Program Gateway to the Future 2004-2009.
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JIABR Carneige, G.D. and Parker, R.H. (1999), “Accountants and empire: the case of co-membership of
Australian and British accountancy bodies, 1885 to 1914”, Accounting, Business
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DiMaggio, P.J. and Powell, W.W. (1983), “The iron cage revisited: institutional isomorphism and
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pp. 147-60.
Dos Santos, T. (1971), “The structure of dependence”, in Fann, K.T. and Hodges, D.C. (Eds),
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Further reading
Annisette, M. and Neu, D. (2004), “Accounting and empire: an introduction”, Critical Perspectives
on Accounting, Vol. 15, pp. 1-4.
Ayub, M. (2007), Understanding Islamic Finance, Wiley, England.
Bakre, O.M. (2001), “The emergence of the accountancy profession in developing countries:
the case of Jamaica”, unpublished PhD dissertation, University of Essex, Colchester.
Bakre, O.M. (2004), “Accounting and the problematique of imperialism: alternative
methodological approaches to empirical research in accounting in developing
countries”, Advances in Public Interest Accounting, Vol. 10, pp. 1-30.
Dos Santos, T. (1970), “The structure of dependence”, American Economic Review, Vol. 60.
Dos Santos, T. (1973), “The structure of dependence”, in Wilber, C.K. (Ed.), The Political Economy
of Development and Underdevelopment, The American University: Random House,
New York, NY.
Frank, A.G. (1972), “The development of underdevelopment”, in Cockcroft, J.D., Frank, A.G. and
Johnson, D. (Eds), Dependence and Underdevelopment, Anchor Books, New York, NY.
Lehman, G. (2005), “A critical perspective on the harmonization of accounting in a globalising
world”, Critical Perspectives on Accounting, Vol. 16, pp. 975-92.
Miller, P. and Rose, N. (1990), “Governing economic life”, Economy and Society, Vol. 19, pp. 1-31.
Modelski, G. (Ed.) (1979), “Transnational corporations and world order”, Readings in
International Political Economy, W.H. Freeman and Company, San Francisco, CA.
Prebisch, R. (1950), The Economic Development of Latin America and Its Principal Problems,
United Nations, New York, NY.
Salibi, S.K. (1998), The Modern History of Jordan, Tauris & Co, London.
Scott, D. and Usher, R. (1999), Researching Education, Cassell, London.
Seale, C. (1999), The Quality of Qualitative Research, Sage, London.
JIABR Tinker, T. (1985), Paper Prophets: A Social Critique of Accounting, Holt, Rienehart and Winston,
London.
3,2 Wijewardena, H. and Yapa, S. (1998), “Colonialism and accounting education in developing
countries: the experiences of Singapore and Sri Lanka”, International Journal of
Accounting, Vol. 33, pp. 269-81.
World Bank and IMF ( Jordan’s relationship with the agencies of dependency).
(3) The extent of Jordan’s dependency on and relationship with imperialist countries such as
the USA in different aspects, such as financial aid and technological assistance ( Jordan’s
relationship with developed countries).
(4) The impact of Jordan’s integration into the global economy on the economic and financial
policies and affairs of Jordan, mainly their impact on accounting practices. This can be
investigated by looking at:
.
Jordan’s economy, financial and accounting obligations and duties towards IFIs and
the global economy and the results of these commitments, for example, issuing
specific laws or regulations regarding the adoption of international accounting
standards, privatization, investment regulations, financial liberalization and trade
liberalization.
.
The methodology, process or projects of these institutions (WB, IMF, WTO) to
monitor and assess the compliance of Jordan with their (WB, IMF, etc.) criteria or
requirements, for instance, the Report on the Observance of Standards and Codes
(ROSC).
(5) Exploring the potentiality for and obstacles to developing or adopting Islamic
accounting into the accounting system in Jordan (professionally, academically and in the
government).
Corresponding author
Mike Lucas can be contacted at: m.r.lucas@open.ac.uk
1. Nor Farizal Mohammed, Fadzlina Mohd Fahmi, Asyaari Elmiza Ahmad. 2015. The Influence of AAOIFI
Accounting Standards in Reporting Islamic Financial Institutions in Malaysia. Procedia Economics and
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2. Abang Salihin, A.H. Fatima, Abdulrahman Anam Ousama. 2014. An Islamic perspective on the true and
fair view override principle. Journal of Islamic Accounting and Business Research 5:2, 142-157. [Abstract]
[Full Text] [PDF]
3. Sivakumar Velayutham. 2014. “Conventional” accounting vs “Islamic” accounting: the debate revisited.
Journal of Islamic Accounting and Business Research 5:2, 126-141. [Abstract] [Full Text] [PDF]
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