Voluntary Adoption of IAS/IFRS by Non-Listed Companies: the Italian Case

This paper presents an explanatory study of factors that have led non-listed company to voluntary comply with IFRS. We analyze the Italian situation in depth and provide some figures to support our findings. The goal of this paper is to conduct a preliminary study of Italian firms that have decided to comply with IAS/IFRS. Furthermore, we also determine reasons why non-listed companies decide to prepare their annual report under IAS/IFRS by analyzing the differences between the Italian GAAP and the international set of standards. The purpose of this paper is to provide a contribution to the international debate on the issue of voluntary application of IAS/IFRS by non-listed companies.