Sinan Salem Kasim Al-Shaikh
International Accounting and Financial Statements’ Quality in the Context of Transitional Developing Countries: The Case of Iraq
Al-Shaikh, Sinan Salem Kasim
Abstract
The International Accounting Standards have been adopted almost worldwide, as a single global set of high quality and understandable accounting standards. The adoption decision is predominately driven by economic and political factors to enhance financial statements’ quality and investors’ rational investment decisions. However, a number of entities’ internal and external environmental factors may hinder the adoption decision or limit the implementation of these standards, particularly in transitional developing countries. This study uses Iraq as an example and an interesting setting to study these factors. This study has four main objectives: to investigate in depth factors influencing the application of the international accounting standards, to determine the obstacles to the application of these standards in Iraq, to examine the impact of these obstacles on financial statements’ quality in the banking sector, and to assess the professional and ethical role of professional bodies in enhancing the financial statements’ quality and overcoming these obstacles. To fulfil these objectives, this study uses exploratory sequential mixed methods research design, using both qualitative and quantitative data collection and data analysis. Drawing on twenty-one individual telephone interviews and a questionnaire survey (n=114), the analysis shows that i) the lack of IFRS knowledge, legislation conflict, political and economic instability, security turmoil, and accounting culture were the factors that negatively affected the application of such standards. ii) These factors raised technical and behavioural obstacles to the application of these standards. iii) Financial statements’ quality is highly influenced by technical and behavioural obstacles. iv) Professional bodies have a significant role in enhancing the quality of financial statements, mediated by professional accountants’ judgements to overcome technical and behavioural obstacles. v) In contrast to previous literature findings, the capital market does not influence the application of these standards.
Citation
Al-Shaikh, S. S. K. International Accounting and Financial Statements’ Quality in the Context of Transitional Developing Countries: The Case of Iraq. (Thesis). University of Hull. https://hull-repository.worktribe.com/output/4739187
Thesis Type | Thesis |
---|---|
Deposit Date | Jul 18, 2024 |
Publicly Available Date | Jul 18, 2024 |
Keywords | International accounting standards; International financial report Standards; Transitional developing countries; Throughput model; Institutional-based theory; Knowledge-based accounting view; Institutional environmental factors; Financial statements’ qu |
Public URL | https://hull-repository.worktribe.com/output/4739187 |
Additional Information | Business School University of Hull |
Award Date | Jun 1, 2019 |
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Copyright Statement
© 2019 Sinan Salem Kasim Al-Shaikh. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright holder.
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