Factors Influencing Successful Implementation of International Financial Reporting Standards (IFRS) Project A Case of Commercial Bank of Ethiopia
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Date
2018-11-06
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Addis Ababa University
Abstract
International Financial Reporting Standard (IFRS) are set of accounting standard developed by
IASB that is becoming the global standard for the preparation of public company financial
statements. The aim of this study was to examine Factors Influencing Successful Implementation of
IFRS Project in Commercial Bank of Ethiopia. These researches sought to achieve five specific
objectives with the key variables examined being the dependent variable successful implementation
of IFRS project in CBE and independent variables of top management support, organization
structure, communication system, team building and Monitoring and Evaluation. To answer
research questions and test the hypothesis the researcher adopted primary and secondary source of
data. The primary data were collected through questionnaires and interview. Whereas, the
secondary source of data was collected from publication, Previous research and consultant printed
document. The researcher implemented both qualitative and quantitative (mixed) research
approach. The questionnaire data were analysed using descriptive statistics, correlations, and
multiple linear regression analysis and data from interview was triangulated with the descriptive
part of analysis. The results have shown that with Pearson correlation result of 0.383, 0.387, 0.327
and 0.418 for the independent variable of Top Management Support, Organizational Structure,
Communication System and Team building respectively have weak positive association with the
dependent variable of Successful implementation of IFRS project in CBE. While monitoring and
evaluation has strong positive relationship with dependent variable with Pearson Correlation of
0.678. The results of multiple regressions revealed that Top Management Support, Organizational
Structure, Communication System and Team Building have insignificant effect on successful
implementation of IFRS project. However, Effective Monitoring and Evaluation has a positive and
significant effect on successful implementation of IFRS project in CBE. Finally, the researcher
provides related recommendations which were associated with the study findings and suggest further
study on the issue.
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Keywords
International Financial Reporting Standards(IFRS), Commercial Bank of Ethiopia, Implementation of IFRS Project