The importance of applying IFRS financial reporting standards and their impact on the quality of accounting information: An exploratory study of the opinions of a sample of academics and professionals in Iraq

Abstract

The research aims to identify financial reporting standards and their importance, the concept of the quality and characteristics of accounting information, and measure the impact of applying IFRS on the quality of accounting information. In order to achieve the goal of the research, a field study was conducted in the Iraqi environment, by polling the opinions of a sample of (35) from the study population, which included a number of academics specialized in Iraqi universities, accountants and professionals working in Iraqi companies. The study sample whose shares are listed on the Iraq Stock Exchange. The descriptive analytical approach in clarifying the theoretical side, analyzing the results of field research and testing its hypotheses using the statistical program (spss), and it reached many results: the importance of applying financial reporting standards in Iraqi companies, and the presence of specialists' consensus on the process of impact of applying financial reporting standards in The quality of accounting information, and as the research recommended: obligating Iraqi companies listed on the Iraq Stock Exchange to apply IFRS standards, holding training courses and scientific seminars for training accounting cadres, the need to support the Iraqi stock market and encouraging the companies listed in it to apply international financial reporting standards (IFRS).