Download or read book Corporate Governance and IFRS in the Middle East written by Muath Abdelqader and published by Taylor & Francis. This book was released on 2022-12-14 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: The rapid globalization of capital markets has increased attention toward examining the quality of the disclosure practices implemented by companies, as internationalization and globalization are the most important motives of the harmonization of financial statements preparation and presentation. Given the expansion of trade and the openness to foreign capital markets, investment decisions became not limited only for local users, but also international users may need to access the financial information. The issuance of International Financial Reporting Standards (IFRS) to be used throughout the world aims to improve the comparability and understandability of financial statements, and hence, to enhance investment decisions through helping investors across the borders to invest in multinational companies. Although fluid and under-developed institutional arrangements remain central features of emerging markets, ensuring effective corporate governance mechanisms would indeed support companies in complying with IFRS – the latter imposes a challenge for companies operating in emerging markets. This book evaluates the differences in the level of compliance with IFRS across the GCC states, exploring the impact of corporate governance on the level of compliance with IFRS and presenting an empirical analysis of companies across the GCC. It makes an important contribution by providing a detailed empirical analysis of the interplay between corporate governance and IFRS in emerging market setting and highlights the way for future research. It will provide international business, management, and accounting and finance students and senior practitioners with a completely new and updated guide to the work in the field of corporate governance and IFRS compliance in emerging markets.

Download or read book The Compliance with International Financial Reporting Standards IFRS in the GCC Member States written by Muath Bassam Khaled Abdel Qader and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book An Investigation of Compliance With International Accounting Standards by Listed Companies in the Gulf Co Operation Council Member States written by Bader Al-Shammari and published by . This book was released on 2007 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the extent of compliance with international accounting standards (IASs) by companies in the Gulf Co-Operation Council (GCC) member states (Bahrain, Oman, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates). Based on a sample of 137 companies (436 company-years) we found that compliance increased over time, from 68% in 1996 to 82% in 2002. There was significant variation in compliance among the six countries and between companies based on size, leverage, internationality and industry. Non-compliance was greater than that observed in developed countries and reflected limited monitoring and enforcement by the bodies responsible for overseeing financial reporting and limited comprehensiveness of audits by external auditors.

Download or read book Compliance with International Accounting Standards by Listed Companies in the Gulf Co operation Council Member States written by Bader A. Al-Shammari and published by . This book was released on 2005 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study was to investigate empirically the extent of mandatory compliance with international accounting standards (IASs) by companies in the Gulf Co-Operation Council (GCC) member states - namely, Bahrain, Oman, Kuwait, Qatar, Saudi Arabia and the United Arab Emirates (UAE) - between 1996 and 2002, and to explain why some companies comply more than others. Official personnel in the relevant enforcement bodies were interviewed to obtain information about their monitoring and enforcement activities. An index of compliance was devised to quantify the level of compliance. This was applied to the financial statements of 137 listed companies. Multivariate regression analysis was employed to explore the relationships between the level of compliance and particular attributes of the companies and year-by-year dummy variables. This was done to discover if the level of compliance with IASs was influenced only by company attributes or whether there were time trends as well. The attributes were country of origin, size, leverage, liquidity, profitability, auditor, industry, internationality, ownership diffusion and the company’s age. The average level of compliance for all companies and all years was 75% of the items in the index. No company within the examined time period fully complied with all requirements. The average level of compliance increased over time, though, from 68% in 1996 to 82% in 2002. There was significant variation in the level of compliance across the six GCC member states as well, but the level of compliance increased in all states over the sample period. The highest average level of compliance was in Saudi Arabia, where it reached 88% in the last year of the study. The degree of non-compliance with IASs across the GCC member states was partially attributable to limited monitoring and enforcement by the bodies responsible for overseeing financial reporting, and to the limited comprehensiveness of audits by external auditors. In addition to the role of the enforcement bodies and external auditors, several company attributes helped explain the level of compliance with IASs. Compliance variation increased with a company’s size, leverage and internationality. The level of compliance varied by industry too; however, company profitability, liquidity, ownership diffusion and whether the audit was conducted by a major international audit firm were found not to be significant factors.

Download or read book IFRS in a Global World written by Didier Bensadon and published by Springer. This book was released on 2016-05-13 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, dedicated to Prof. Jacques Richard, is about the economic, political, social and even environmental consequences of setting accounting standards, with emphasis on those that are alleged to be precipitated by the adoption and implementation of IFRS. The authors offer their reasoned critiques of the effectiveness of IFRS in promoting genuine global comparability of financial reporting. The editors of this collection have invited authors from 17 countries, so that a great variety of accounting, auditing and regulatory cultures, and educational perspectives, is amply on display in their essays.

Download or read book International Financial Reporting Standards English written by Navneet Singh and published by Navneet Singh. This book was released on with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: International Financial Reporting Standards (IFRS) are a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB). They are designed to provide a common global language for financial reporting, ensuring that financial statements are comparable, transparent, and reliable across different jurisdictions and industries. Here's an overview of IFRS: Objective: The primary objective of IFRS is to provide a framework for the preparation and presentation of financial statements that provide useful information to users for making economic decisions. IFRS aims to enhance transparency, comparability, and reliability in financial reporting. Applicability: IFRS is used by many countries around the world as the basis for preparing financial statements of public companies. While some countries have adopted IFRS as their national accounting standards, others have converged their local standards with IFRS or permit the use of IFRS for listed companies. Additionally, multinational companies often use IFRS for their consolidated financial statements to ensure consistency across different jurisdictions. Principles-based Approach: IFRS adopts a principles-based approach to accounting standards, focusing on principles rather than detailed rules. This allows for flexibility in application and enables entities to provide relevant and reliable information that reflects the economic substance of transactions. Standard-setting Process: The IASB, an independent standard-setting body, is responsible for developing and issuing IFRS. The standard-setting process involves extensive consultation with stakeholders, including preparers, auditors, investors, regulators, and standard-setting bodies from different countries. The IASB also works closely with national standard-setters and accounting bodies to promote global convergence in financial reporting. Structure of IFRS: IFRS consists of a series of individual standards and interpretations, each addressing specific aspects of financial reporting. The main standards cover topics such as presentation of financial statements (IAS 1), revenue recognition (IFRS 15), leasing (IFRS 16), financial instruments (IFRS 9), and consolidation (IFRS 10). Additionally, there are interpretations (IFRIC) and framework documents that provide guidance on complex accounting issues. Continuous Development: IFRS is subject to continuous review and improvement to ensure its relevance and effectiveness in addressing emerging issues in financial reporting. The IASB regularly updates and issues new standards or amendments to existing standards in response to changes in business practices, economic environments, and regulatory requirements. Benefits of IFRS: The adoption of IFRS brings several benefits, including improved comparability of financial statements across jurisdictions, enhanced transparency and disclosure, increased investor confidence, and reduced costs for multinational companies operating in multiple jurisdictions. Overall, IFRS plays a crucial role in promoting high-quality financial reporting, facilitating global capital flows, and fostering economic growth and development by providing a common set of accounting standards that are recognized and accepted worldwide.

Download or read book Corporate Governance and the Level of Compliance with International Accounting Standards IAS 1 written by Abdalmuttaleb Musleh Al-Sartawi and published by . This book was released on 2017 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Harmonization of financial reporting standards reduces information asymmetry and improves the confidence of users of financial information while making decisions .Similarly, corporate governance enhances the transparency of financial information through reducing agency conflicts. Moreover, in order to increase the confidence of investors, attract prospective investors and reduce conflict of interests, Bahrain encourages firms to adhere to both the International Financial Reporting Standards and Bahrain's Code of Corporate Governance. Accordingly, the purpose of this paper is to investigate the relationship between corporate governance and the level of compliance by 39 firms listed on Bahrain Bourse with International Accounting Standards (IAS-1). The results indicate that the level of corporate governance applied in Bahrain listed companies was 72.5% and it has a significant relationship with the level of compliance with IAS-1 disclosure. The findings and recommendations presented in this study might support regulatory bodies and standard setters in Bahrain to formulate strategies that would promote compliance with IFRSs by the listed firms. Additionally, the study contributes to financial reporting literature relating to the GCC countries.

Download or read book International Financial Reporting Standards Desk Reference written by Roger Hussey and published by John Wiley & Sons. This book was released on 2005-04-22 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book is written by authors who clearly understand the challenges facing all who seek to understand and apply international standards. I recommend it to you." —From the Foreword by Sir David Tweedie Chair of the International Accounting Standards Board In this defining resource, authors Roger Hussey and Audra Ong have compiled everything accountants, executives, and organizations in different countries need to reach agreement on accounting rules and standards. International Financial Reporting Standards Desk Reference includes a background on how the movement toward a common language for international accounting evolved to its present state, summarizes existing standards highlighting the key issues covered, and captures those terms and phrases that are fundamental to an understanding of the common language of global business. Written to help readers fully comprehend this global language, International Financial Reporting Standards Desk Reference includes: An overview of the International Accounting Standards (IAS) and Inter-national Financial Reporting Standards (IFRS) and their impact A dictionary of words and phrases used in the international business world, with a strong emphasis on terms used by the International Accounting Standards Board History of the International Accounting Standards Board: how it was formed, its structure, and the way it operates Insights on future trends of the International Accounting Standards Board

Download or read book International Financial Reporting Standards Implementation written by Mohammad Nurunnabi and published by Emerald Group Publishing. This book was released on 2021-08-23 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contributions to International Accounting aims to address a vital gap in research by focusing on providing relevant and timely studies on International Financial Reporting Standards implementation for local and international policymakers.

Download or read book Wiley International Trends in Financial Reporting under IFRS written by Abbas A. Mirza and published by John Wiley & Sons. This book was released on 2012-10-05 with total page 1001 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wiley International Financial Reporting Trends provides copious examples of footnote disclosures and financial statement formats, carefully culled from the world's leading international companies ("Global 500") that are already compliant with IFRS and report under IFRS standards promulgated by the International Accounting Standards Board, the IASB. Arranged topically, this book is a quick source of reference to find answers to issues of interest to financial statement preparers. It provides hundreds of illustrations taken from financial statements prepared under IFRS by global conglomerates thereby helping preparers and users of financial statements to expeditiously obtain examples of footnote disclosures and financial statements presented under these Standards which are popularly referred to as "principles-based" standards (as opposed to "rules-based" standards). Additionally, Wiley International Financial Reporting Trends contains comparisons of IFRS to US GAAP, Indian GAAP, and Chinese GAAP, making it a truly global reference resource.

Download or read book Achieving Global Convergence of Financial Reporting Standards written by Christopher Patel and published by Emerald Group Publishing. This book was released on 2011-12-15 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research monograph examines whether International Financial Reporting Standards (IFRS) are interpreted and applied in a consistent manner within and across countries, and questions the implicit assumption that accounting convergence will automatically lead to comparability in financial reporting.

Download or read book Wiley IFRS 2012 written by Bruce Mackenzie and published by John Wiley & Sons. This book was released on 2012-01-18 with total page 1319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your one-stop resource for understanding current International Financial Reporting Standards – now made even more useful: your purchase of Wiley IFRS 2012 includes a free ePDF of the entire book! As the International Accounting Standards Board (IASB) continues towards its goal of a set of high quality financial reporting standards, and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2012 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them. Covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations An indispensable guide to IFRS compliance Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world situations Written by a world-class team of authors active in IFRS consulting, training, working with multinational listed companies, public sector entities and SMEs, this book is an indispensable guide to IFRS compliance. And see inside the book for full details on how to download the entire book as a free ePDF, for quick searching and checking on your computer wherever you are!

Download or read book Wiley IFRS 2014 written by Bruce Mackenzie and published by John Wiley & Sons. This book was released on 2014-02-20 with total page 1582 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your one-stop resource for understanding current International Financial Reporting Standards As the International Accounting Standards Board (IASB) continues towards its goal of a set of high-quality financial reporting standards, and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2014 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them.

Download or read book Wiley IFRS 2016 written by PKF International Ltd and published by John Wiley & Sons. This book was released on 2016-05-13 with total page 1554 pages. Available in PDF, EPUB and Kindle. Book excerpt: Accurately understand and implement the latest IFRS updates Wiley IFRS 2016 is your one-stop resource for understanding and implementing the current International Financial Reporting Standards as dictated by the International Accounting Standards Board (IASB). Fully updated to cover the latest standards and IFRIC interpretations, this book provides clear and concise explanation alongside practical implementation guidance. The information is organized by topic for ease of navigation, making it ideal for both quick reference and in-depth study, with general statement guidance followed by topic-specific discussion. The Disclosure Checklist helps you ensure full compliance at a glance, and advice for first-time adopters helps smooth the initial implementation process. The goal of the International Accounting Standards Board is to achieve global convergence of accounting standards, which will lead to uniformity in financial reporting around the world. Annual updates to the IFRS are a part of these efforts, so staying up to date is an essential part of compliance. This informative guide is your ideal reference, with the latest 2016 updates and practical advice. Understand the framework that unifies the IFRS Interpret and apply the standards correctly Verify compliance and completeness Get expert guidance on implementing the new and updated standard More and more countries around the globe are either adopting IFRS as their national standards, or adapting existing local standards to more closely align with those set by the IASB. Uniform reporting reduces the cost of financial statement preparation for multinational companies, and facilitates the jobs of investment analysts, investors, and others in assessing business results. Wiley IFRS 2016 gives you the explanation, interpretation, and practical guidance you need to ensure full compliance.

Download or read book Wiley 2021 Interpretation and Application of IFRS Standards written by PKF International Ltd and published by John Wiley & Sons. This book was released on 2021-07-06 with total page 1011 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wiley Interpretation and Application of IFRS® Standards The 2021 reference for the interpretation and application of the latest international standards Wiley IFRS® Standards 2021 is a revised and comprehensive resource that includes the information needed to interpret and apply the most recent International Financial Reporting Standards (IFRS®) as outlined by the International Accounting Standards Board (IASB). This accessible resource contains a wide range of practical examples as well as invaluable guidance on the expanding framework for unified financial reporting. The authors provide IFRIC interpretations and directions designed to ensure a clear understanding of the most recent standards. The IFRS® standards are ever evolving, therefore it is essential that professionals and students have the information needed to apply the standards correctly in real-world cases. Wiley IFRS® Standards 2021 offers a complete, up-to-date reference that aids in the application of the latest international standards in a manner that is transparent, accountable and efficient. This edition includes IFRS 9 Financial Instruments; IFRS 15 Revenue from Contracts with Customers; IFRS 16 Leases and amendments issued and effective for annual periods beginning on or after 01 January 2020 as issued by the IASB by 30 June 2020. This edition also includes some introductory guidance for IFRS 17 Insurance Contracts and incorporates the revised Conceptual Framework for Financial Reporting 2018. This guide is written by the people passionate about IFRS® at PKF International. PKF International member firms specialise in providing high quality audit, accounting, tax, and business advisory solutions to international and domestic organisations around the globe. PKF International is a member of the Forum of Firms – an organisation dedicated to consistent and high-quality standards of financial reporting and auditing practices worldwide. www.pkf.com. PKF International Limited administers a family of legally independent firms and does not accept any responsibility or liability for the actions or inactions of any individual member or correspondent firm or firms. All rights reserved.

Download or read book Wiley IFRS 2013 written by Bruce Mackenzie and published by John Wiley & Sons. This book was released on 2012-12-14 with total page 1072 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your one-stop resource for understanding current International Financial Reporting Standards, with a free ePDF of the entire book As the International Accounting Standards Board (IASB) continues towards its goal of a set of high quality financial reporting standards and makes significant strides in achieving global convergence of accounting standards worldwide, International Financial Reporting Standards (IFRS) continue to be important to the accounting world. Wiley IFRS 2013 provides the necessary tools for understanding the IASB standards and offers practical guidance and expertise on how to use and implement them. Covers the most recent International Financial Reporting Standards (IFRS) and IFRIC interpretations An indispensable guide to IFRS compliance Provides a complete explanation of all IFRS requirements, coupled with copious illustrations of how to apply the rules in complex, real-world situations Written by a world-class team of authors active in IFRS consulting, training, working with multinational listed companies, public sector entities and SMEs, Wiley IFRS 2013 is an indispensable guide to IFRS compliance. And see inside the book for full details on how to download the entire book as a free ePDF, for quick searching and checking on your computer wherever you are.

Download or read book The Political Economy of International Standard Setting in Financial Reporting written by Zehra G. Kavame Eroglu and published by . This book was released on 2019 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Historically, every country had its own accounting standards, each merging to some extent with its local corporate, labor, and tax laws. No matter how undesirable, it was natural to expect differences among nations. Globalization made these differences so impractical that from corporate leaders to accountants to government officials, many pushed for harmonized accounting standards. Pursuing this goal, a private international organization was created to set standards for the world. Currently around 120 countries require or permit International Financial Reporting Standards (IFRS), however, the United States is yet to make a decision to adopt these international standards.The adoption of IFRS in the United States would, in theory, be easier compared to the experience of the European Union. The EU mandated that all publicly traded firms use IFRS in their consolidated financial statements from 2005 onwards. Several issues are yet to be resolved, but Europe managed to achieve what was once thought to be an insuperable task in coordinating a common standard for its Member States. If the adoption of IFRS in the United States would be easier than the EU experience, why has the United States not adopted IFRS? With this paper, I argue that IFRS are a set of U.S. supported Anglo-American accounting standards. Further, that the reason for creating IFRS was not necessarily for the United States to adopt them but to convert the patchwork of accounting standards around the world into a single system that is similar to U.S. GAAP.