Challenges of Implementing International Financial Reporting Standards (IFRS): A Case of Private Insurance Companies in Ethiopia
| dc.contributor.advisor | Temesgen, Worku (PhD) | |
| dc.contributor.author | Feleke, Negash | |
| dc.date.accessioned | 2019-03-09T11:37:13Z | |
| dc.date.accessioned | 2023-11-04T07:57:21Z | |
| dc.date.available | 2019-03-09T11:37:13Z | |
| dc.date.available | 2023-11-04T07:57:21Z | |
| dc.date.issued | 2019-02 | |
| dc.description | A Research Submitted to Addis Ababa University School of Graduate Studies in Partial Fulfillment of the Requirements for the Degree of Master of Accounting and Finance (MSC). | en_US |
| dc.description.abstract | International Financial Reporting Standard (IFRS) is designed to serve as a common global language for business affairs so that company accounts are understandable and comparable across the globe. Its relative importance attracted different companies to make IFRS as their corporate financial reporting standard. Despite this widespread acceptance of IFRS, there are serious managerial, education and training, cost, institutional, and technical challenges that companies need to overcome in order to benefit fully from the implementation of IFRS in their jurisdictions. This study is intended to identify the practical challenges of IFRS implementation; the case of private insurance companies in Ethiopia. To achieve this objective, both primary and secondary data were collected from IFRS implementation team members of 16 insurance companies who were selected purposively based on their role and involvement in the implementation process. Primary data were collected through questionnaire and interview whereas secondary based were collected through documentary evidence and analyzed by using different descriptive statistical tools such as mean and exploratory factor analysis by using SPSS version 23. Finally, the result of the study revealed that lack of attention and commitment of management, poor contribution of education and training, lack of supports from accountancy professional bodies, weak enforcements of regulatory body, and high cost of implementation and weak management support are the major challenges of IFRS implementation by private insurance companies in Ethiopia. Therefore, the insurance companies, regulatory organs and consultants are recommended to improve management involvement, provide workplace trainings, to implement by customizing the standard, to improve cost issues of the standard, and to improve the cooperation of the organs involving in the implementation. | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/16645 | |
| dc.language.iso | en_US | en_US |
| dc.publisher | Addis Ababa University | en_US |
| dc.subject | IFRS | en_US |
| dc.subject | Implementation | en_US |
| dc.subject | Insurance companies | en_US |
| dc.title | Challenges of Implementing International Financial Reporting Standards (IFRS): A Case of Private Insurance Companies in Ethiopia | en_US |
| dc.type | Thesis | en_US |