摘要：Entities with securities listed on a stock exchange in the EU are obliged to adopt the International Accounting Standards (IAS) in their consolidated accounts. However, as for the individual accounts of the companies included in the parameters of consolidation of these entities, it would be up to each Member State to enforce or allow its use. The Portuguese option was to allow the utilization of the Portuguese accounting system: Sistema de Normalização Contabilística (SNC). This study analysis the factors that potentially explain the choice for the IAS by entities with securities listed on Euronext Lisbon, in the period 2005-2012. The explanatory variables were grouped into 3 sectors: environmental, internal and CEO profile, these being determined through a logit model, a statistically significant relationship to the sector of activity, listed in several markets and included in the PSI-20 (environmental factors), the auditor, payout ratio, b-value (internal factors) and fixed remuneration of management. The results support the premise that the decision on the choice of accounting model is a result of several factors.
