oa South African Journal of Economic and Management Sciences - Financial accounting and reporting in developing countries: a South African perspective

Volume 2, Issue 2
  • ISSN : 1015-8812
  • E-ISSN: 2222-3436



South Africa is currently going through major changes in political, social and other arenas. It is therefore appropriate to consider the effect of these developments on financial reporting in a changing environment. This paper explores the origins of the current South African accounting system, given its status as a developing country, and endeavours to show that financial reporting needs to be amended to reflect the changing face of the South Africa's social fabric, its status as a developing country, as well as the emergence of new users of financial statements. Certain recommendations are made to address these issues.

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