Purpose – This paper seeks to understand the role of financial accounting regulations in a less developed country in transition, Egypt. It explores the social, political as well as economic contexts that underlie the processes of setting the Egyptian Financial Accounting Regulations (EFAR) in...

Purpose – The paper explains how internal reporting systems, as embedded practices informing organizational actions and “know-how”, contributed to the inertia in implementing a corporate form of governance in a transitional public organization in a developing country – Egypt....