History, Advantages, Disadvantages, Barriers to the International Harmonization, and Discussion on the Progress of Harmonization Accounting Standards in ASEAN Countries (Malaysia, Singapore, and Thailand): A Review of the Research Literature

Harmonization is the process of increasing the level of agreement in accounting standards and practices between countries. The purpose of this study is to boost and enhance the researchers’ understanding on the International harmonization of financial reporting. This study aims to define the International harmonization of financial reporting, identify the advantages, disadvantages and barriers for the International harmonization, and explore the progress of the harmonization of accounting standards in ASEAN countries. A literature review is done after reading articles, journals and books to gain better clarity about the subject and form a bigger picture about the study in its entirety.