Adopting and Imlementation of International Finacial Reporting Standard In Iraq Atheoretical Perspective

Proper adoption of International Financial Reporting Standard (IFRS) has been inextricably linked to global financial market penetration and economic development. Yet most of the developing countries still face some challenges in its adoption. Various studies have examined the benefits and challenge...

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Bibliographic Details
Published in:Turkish journal of computer and mathematics education 2021-04, Vol.12 (2), p.312-318
Main Authors: Hamawandy, Nawzad Majeed, Omer, Abdul Jalil, Jamil, Diyarabdulmajeed, Badran, Farman, Al-Kake, Farhad Rafaat Ali
Format: Article
Language:English
Subjects:
Accounting
Accounting systems
Developing countries
Economic development
Empirical analysis
GNP
Gross National Product
Industrialized nations
International finance
International Financial Reporting Standards
International organizations
LDCs
Public policy
Securities markets
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Summary:Proper adoption of International Financial Reporting Standard (IFRS) has been inextricably linked to global financial market penetration and economic development. Yet most of the developing countries still face some challenges in its adoption. Various studies have examined the benefits and challenges of IFRS adoption. The organization and culture, resistance to change, knowledge of IFRS and government policy has dominated the discourse on the challenges of IFRS adoption in developing countries. As we consider the shift in discourse towards the developing countries, this paper explore the empirical analysis studies that analyzing the challenges hindering the proper adoption of IFRS, and its implication for financial market development and economic growth. This paper develops the main issues that pose a challenge to IFRS adoption in developing country like Iraq by reviewing the existing empirical evidence in the literature
ISSN:1309-4653
1309-4653
DOI:10.17762/turcomat.v12i2.716