Accounting and Finance Dissertation

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Browsing Accounting and Finance Dissertation by Subject "Adoption"

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    Adoption, Challenges and Perception of International Financial Reporting Standards (IFRS) on the Quality of Financial Reporting of Financial Institution in Addis Ababa, Ethiopia
    (Addis Ababa University, 2016-05) Hailemichael, Melese; Laxmikantham, P. (PhD)
    International Financial Reporting Standards (IFRS) have been adopted by 143 countries around the world. The goals of the IFRS is to develop, in the public interest, a single set of high-quality, understandable, enforceable and globally accepted financial reporting standards based upon clearly articulated principles. However, its adoption and implementation bring opportunities and create challenges to the adopter. The main objective of this study was to assess the adoption, challenges and impact of international financial reporting standards (IFRS) on the quality of financial reporting of financial institution in Addis Ababa to provide an input for financial institution, governmental and policy makers and serve as for future researches on this field of study. Both primary and secondary sources of data have been used for the study from 32 financial institutions. Primary data were collected through pre designed questioners whereas secondary data were collected from different governmental organization reports, scientific papers and proceedings relevant to the study using document and regression analysis techniques, and proclamations and regulations that deal with financial reporting issues in Ethiopia. The study found that some financial institutions in Addis Ababa, Ethiopia have started using IFRS voluntarily for the preparation of their financial statements without making necessary awareness but nationally; IFRS is adopted officially in December 5, 2014 through enactment of Proclamation. And from the analysis of survey that in the dependent and independent variables there is significant correlation. Among those the IFRS on the quality of financial reporting has significant correlation with the transparency, accountability and economic efficiency. The result of the study will provide a good lesson for other Financial Institution, Governmental and Policy Makers for the implementation of IFRS network. Key Words: IFRS, Adoption; Benefits; Challenge; Quality; Transparency, Financial institutions