Abstract
India’s move toward International Financial Reporting Standards (IFRS) through Indian Accounting Standards (Ind AS) changed the technical, organisational, and reporting demands placed on accounting professionals. This study examines the implementation challenges associated with IFRS convergence and identifies the factors that explain perceived success of implementation. The study uses primary survey evidence from 392 respondents with relevant accounting and IFRS exposure. A 24-item questionnaire measured professional competency and resistance, regulatory and institutional constraints, technical accounting and measurement complexity, institutional and systems constraints, operational and financial reporting complexity, cost-related barriers, and perceived positive outcomes. Exploratory factor analysis was conducted using principal component extraction and Varimax rotation. The Kaiser-Meyer-Olkin measure was 0.694 and Bartlett’s test of sphericity was significant, indicating that the data were suitable for factor analysis. Seven components with eigenvalues above one explained 76.597% of total variance. Reliability was acceptable across the final factors, with Cronbach’s alpha ranging from 0.707 to 0.882. The overall 24-item scale had an alpha of 0.886. Multiple regression was then used to examine the determinants of perceived IFRS success. The model was statistically significant, F(6, 385) = 7.413, p < .001, but explained 10.4% of the variance in perceived success. Operational and financial reporting complexity had the strongest positive association with perceived success (β = 0.324, p < .001). Technical accounting and measurement complexity had a significant negative association (β = -0.240, p < .001), while regulatory and institutional constraints had a smaller positive association (β = 0.138, p = .045). Professional competency and resistance, institutional and systems constraints, and cost-related barriers were not statistically significant predictors in the final regression model. The findings suggest that IFRS convergence should be treated as an ongoing organisational process involving data, reporting routines, systems, professional judgment, and regulatory coordination. Training remains important, but the evidence indicates that implementation outcomes also depend on how organisations redesign reporting processes and manage technical complexity.