Adoption of IFRS in emerging companies: challenges and implementation strategies

The study examines the implementation of International Financial Reporting Standards (IFRS) in emerging companies (startups) in Ecuador, with the objective of assessing their impact in accounting, financial and operational areas. Using surveys and interviews with 60 accounting professionals and financial managers, familiarity and challenges in the adoption of IFRS were analyzed. The results indicate that 68.33% of respondents have a medium level of familiarity with IFRS, and 93.33% recognize its importance for startups. However, lack of staff training (55%) and financial resources (20%) are the main barriers. Strategies such as continuous training (41.67%) and external advice (23.33%) were identified as effective solutions. The findings highlight the need for a comprehensive approach that addresses both technical and organizational aspects to ensure an effective transition, improve financial transparency and strengthen the sustainability of start-ups.