Indonesian Accounting Research: Integrating Contemporary Perspectives with Social, Economic, and Environmental Imperatives

Submission deadline date: 30 November 2024


Accounting is embedded in the specific social economic contexts. A country’s formal and informal institutions play the first-order effect shape accounting practice (Wong 2016; Wysocki 2011). The growing advanced technology and the use of automation, increasingly innovative and complex contemporary business models, new financing options, the changing nature of the workforce, growing pressure to operate sustainably, and the need to manage an array of stakeholders contribute to a transformation of the accounting profession, new challenges and demands in accounting education, and the evolving role of accounting to solve contemporary social, environmental and economic issues.

Indonesia emerges as a new economic power with a significant role in upholding environmental sustainability. Indonesia has the largest and the most progressive GDP among the five emerging countries in the Association of Southeast Asian Nations (ASEAN-5: Indonesia, Malaysia, Thailand, Singapore, and the Philippines) (The World Bank 2022). Indonesia’s economic growth surpasses the global average and that of other emerging economies (International Monetary Fund, 2023) and has the fourth largest population in the world (United Nations 2023). In addition, Indonesia holds significant capacity for carbon storage as it is the home to the third world’s largest tropical rainforest and hosts the world’s largest tropical peatlands and mangrove forests (World Bank, 2022).

Despite the economic and environmental importance in the world, there are notable concerns about environmental and accountability issues. Indonesia is the world’s fourth-largest greenhouse gas emitter and ranks fifth in tree cover loss (World Resources Institute, 2022; Global Forest Watch, 2023). Regarding accountability concerns, Indonesia’s Corruption Perception Index is ranked 115/180 globally, with 90% of people believing it is rooted in government corruption (Transparency International, 2023; Transparency International, 2020). However, Indonesia’s accounting profession is the weakest among ASEAN-5 countries (Indonesia, Singapore, Malaysia, Thailand, Philippines), with only 108 professional accountants per one million population (ASEAN Federation of Accountants, 2019). Indonesia has the lowest disclosure and transparency score among ASEAN-5 countries (Asian Development Bank 2021). In addition, Indonesian accounting students seem reluctant to pursue careers in public accounting firms (Suryani et al., 2018).

Indonesia is also renowned for distinctive formal institutions such as weak corporate governance (Asian Development Bank 2021) and unique informal institutions such as strong collectivism and religiosity (Hofstede et al., 2011; Inglehart et al., 2014). It is critically important to understand how those specific contextual factors share contemporary accounting practices. Equally important, we call for more research on how evolving and dynamic accounting research play a role to solve contemporary social, environmental and economic issues in Indonesia.

Related literature

A systematic literature review by Kristanto and Cao (2024) provides a comprehensive and unique landscape of accounting-related research in Indonesia. This study reveals distinctive country settings including political connection, two-tier board system, weak accounting profession, information opacity, and cultural impact on accounting. Accordingly, they outline prospective agendas to examine the institutional mechanisms’ role in addressing major social, environmental and economic challenges through accounting and accountability.

There are formal institutions, such as corporate governance systems, legal system, and regulatory enforcement (Chen and Zhang 2010, Cao 2023) that affect accounting research and practices. However, the informal institutions play a more substantial role when formal systems are not well developed in emerging countries such as Indonesia. The informal institutions, such as political connections (Joni et al., 2020), spirituality (Efferin and Hutomo, 2021), and cultural-related values (Cao, 2023) significantly affect accounting research and practices.

This special issue aims to understand how Indonesian-specific institutional characteristics affect accounting practices and the evolving role of the accounting profession. This agenda is crucial to enforce accounting roles in upholding Indonesia’s environmental and economic standing. Accordingly, we invite accounting academics to contribute their original research and insightful perspectives, assessing the interplay between accounting and contemporary social, environmental and economic challenges in Indonesia from both formal and informal institutional perspectives.


ASEAN Federation of Accountants. 2019. Annual Report 2018. Jakarta: ASEAN Federation of Accountants.
Cao, J. 2023. Formal and informal institutions and fair value opinion shopping: an institutional anomie theory perspective. Journal of Accounting Literature 45 (2):289-313.
Chen, J. J., and H. Zhang. 2010. The impact of regulatory enforcement and audit upon IFRS compliance – Evidence from China. European Accounting Review 19 (4):665-692.
Efferin, S., and C. C. Hutomo. 2021. Spirituality, happiness and auditors' commitment: an interbeing perspective. Accounting, Auditing and Accountability Journal 34 (4):701-730.
Global Forest Watch. 2023. Tree cover loss in compared to other areas. (last accessed 1 March 2023).
Hofstede, G., G. J. Hofstede, and M. Minkov. 2011. Cultures and Organizations: Software of the Mind. 3rd ed. New York: McGraw-Hill Education.
Inglehart, R., C. Haerpfer, A. Moreno, C. Welzel, K. Kizilova, J. Diez-Medrano, M. Lagos, P. Norris, E. Ponarin, and B. Puranen. 2014. World Values Survey: Round Six - Country-Pooled Datafile Version. Madrid: JD Systems Institute. International Monetary Fund. 2023. Real GDP Growth. (last accessed 2 March 2023).
Joni, J., K. Ahmed, and J. Hamilton. 2020. Politically connected boards, family and business group affiliations, and cost of capital: Evidence from Indonesia. British Accounting Review 52 (3).
Kristanto, A. B., and J. Cao. 2024. The landscape of accounting-related research in Indonesia: mapping distinctive settings and future research agenda. Journal of Accounting Literature.
Suryani, A. W., C. Helliar, A. J. Carter, and J. Medlin. 2018. Shunning careers in public accounting firms: The case of Indonesia. British Accounting Review 50 (5):463-480.
Transparency International. 2020. How does corruption shape Asia? (last accessed 16 February 2024).
Transparency International. 2023. Corruption perception index. (last accessed 5 March 2023).
Wong, T. J. 2016. Corporate governance research on listed firms in China: institutions, governance and accountability. Foundations and Trends in Accounting 9 (4):259–326.
World Bank. 2022. Indonesia overview: Development news, research, data. (last accessed 16 February 2024).
World Resources Institute. 2022. Climate watch historical GHG emissions. (last accessed 6 March 2023).
Wysocki, P. 2011. New institutional accounting and IFRS. Accounting and Business Research 41 (3):309-328.

List of topic areas

We invite submissions addressing a range of potential topics relevant to Indonesia for our special issues, including but not limited to:

  1. Formal Institutional Factors Influencing Accounting Research and Practices:
    • Examination of corporate governance structures and their impact on financial reporting integrity.
    • Analysis of legal frameworks and enforcement mechanisms in promoting transparency and accountability.
    • Exploration of sustainability accounting practices and their integration into financial reporting.
    • Assessment of auditing standards and procedures in ensuring the reliability of financial information.
    • Consideration of regulatory compliance challenges and opportunities for improvement.
  2. Informal Institutional Factors Influencing Accounting Research and Practices:
    • Study of how local cultural norms shape accounting practices and reporting behaviors.
    • Investigation into the influence of social norms on ethical decision-making in accounting.
    • Examination of the role of religious values in shaping financial reporting practices.
    • Analysis of the impact of political connections on accountability and transparency in accounting.
    • Exploration of informal networks and their role in shaping accounting practices.
  3. Evolving and Adapting Accounting Profession in a Changing Landscape:
    • Analysis of the impact of digital transformation on accounting processes and professions.
    • Exploration of technological advancements and their implications for accounting practices.
    • Assessment of green innovation initiatives and their integration into accounting frameworks.
    • Examination of the role of accountants in addressing climate change through sustainable practices.
    • Consideration of the future skills and competencies required for accounting professionals.
  4. Accounting’s Role in Addressing Societal, Environmental, and Economic Challenges:
    • Investigation into how accounting can contribute to promoting gender equality in organizations.
    • Analysis of the role of accounting in combating corruption and promoting transparency.
    • Examination of accounting frameworks for measuring and mitigating pollution and environmental degradation.
    • Assessment of the contribution of accounting to climate action and sustainable development goals.
    • Exploration of the ethical responsibilities of accountants in addressing societal, environmental, and economic challenges, such as income inequality, resource depletion, and economic instability.
    • Study of accounting interventions to address social issues like poverty alleviation and access to education and healthcare.
    • Analysis of environmental accounting practices aimed at measuring and managing organizational carbon footprints, waste generation, and natural resource consumption.
    • Examination of the economic implications of sustainable accounting practices, including their impact on financial performance, market competitiveness, and long-term viability.
    • Assessment of the role of accounting in promoting inclusive economic growth, fair trade practices, and responsible investment strategies.
    • Exploration of interdisciplinary approaches to accounting that consider the interconnected nature of societal, environmental, and economic challenges, fostering holistic and sustainable solutions.
  5. Challenges in Accounting Education and Professional Development:
    • Exploration of interdisciplinary approaches to accounting education for addressing social, environmental, and economic issues.
    • Study of sustainability reporting frameworks and their integration into accounting education.
    • Analysis of the role of accounting education in preparing professionals for sustainability challenges.
    • Examination of professional development programs focused on sustainable accounting practices.

We encourage researchers to conduct a critical and in-depth study of these topics based on different theoretical frameworks, multiple methodologies, novel and unique data, and considering both formal and informal institutional factors.

Submissions Information

All submitted papers will be initially screened by the guest co-editors of the special issue.

Papers presented at conferences "The 1st International Conference in Emerging Business Innovation and Technology (ICEBTech 2024)", hosted by Binus Business School on 24th September, 2024, and "The 8th International Research Conference on Economic and Business (IRCEB) 2024", hosted by Universitas Negeri Malang on 15th-16th October, 2024, to be considered for inclusion in the special issue will undergo a double-blind review process and must be submitted through the PAR ScholarOne website before the deadline. All papers must be original and meet the PAR’s high publication quality standards. The co-editors of the PAR will monitor the final batch of accepted papers prior to publication.

Although presentation at the conferences is strongly encouraged for a paper to be considered for inclusion in the special issue, presentation does not guarantee publication of the paper. However, the submissions to the special issue are not limited to conference participants. The purpose of the conference is to get valuable peer feedback from the conference participants to improve their manuscripts and undergo a fast-track review process if it is considered to be published in PAR. The ultimate editorial decision will be made in accordance with PAR’s policies. The guest editors welcome informal enquiries from those who are interested in submitting a paper for consideration. Initial queries about the special issue and the special issue conference should be directed to Dr June Cao via email: [email protected].

Submissions are made using ScholarOne Manuscripts. Registration and access are available here.

Author guidelines must be strictly followed.

Authors should select (from the drop-down menu) the special issue title at the appropriate step in the submission process, i.e. in response to "Please select the issue you are submitting to".

Submitted articles must not have been previously published, nor should they be under consideration for publication anywhere else, while under review for this journal.

Key deadlines

Opening date for manuscripts submissions: 25th March, 2024

Closing date for manuscripts submission: 30th November, 2024