Compliance of disclosure requirements of IFRS 15: an empirical evidence from developing economy

Karim, Md. Rezaul; Riya, Atia Ibnat

doi:10.1057/s41310-022-00146-4

Cited by 10 publications

(7 citation statements)

References 22 publications

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“…Despite regulatory requirements, companies frequently fall short of full compliance (Akhtaruddin, 2005). Similar observations of insufficient disclosure and non-compliance with accounting standards persist in Bangladeshi public limited companies (Karim and Riya, 2022). These studies underscore the disparities in compliance levels among countries, influenced by factors such as size, multinational status and profitability.…”

Section: Literature Reviewmentioning

confidence: 75%

COVID-19-related accounting disclosures in the financial statements: evidence from an emerging economy

Karim,

Reza,

Shetu

2024

ARJ

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Purpose This study aims to explore COVID-19-related accounting disclosures using sociological disclosure analysis (SDA) within the context of the developing economy of Bangladesh. Design/methodology/approach COVID-19-related accounting disclosures from listed banks’ annual reports have been examined using three levels of SDA: textual, contextual and sociological interpretations. Data were gathered from the banks’ 2019 and 2020 annual reports. The study uses the legitimacy theory as its theoretical framework. Findings The research reveals a substantial shift in corporate disclosures due to COVID-19, marked by a significant increase from 2019 to 2020. Despite regulatory and professional directives for COVID-19-specific disclosures, notable non-compliance is evident in subsequent events, going concern, fair value, financial instruments and more. Instead of assessing the implications of COVID-19 and making disclosures, companies used positive, vague and subjective wording to legitimize non-disclosure. Practical implications The study’s insights can inform regulators and policymakers in crafting effective guidelines for future crisis-related reporting like COVID-19. The research adds to the literature by methodologically using SDA to explore pandemic-specific disclosures, uncovering the interplay between disclosures, legitimacy and stakeholder engagement. Originality/value This study represents a pioneering effort in investigating COVID-19-specific disclosures. Moreover, it uses the SDA methodology along with the legitimacy theory to analyze accounting disclosures associated with COVID-19.

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Section: Literature Reviewmentioning

confidence: 75%

COVID-19-related accounting disclosures in the financial statements: evidence from an emerging economy

Karim,

Reza,

Shetu

2024

ARJ

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“…Secondly, it is predicted that fraudulent financial reporting might be practiced in the banking sector of Bangladesh evidenced by the financial scam, heists, and bribery in the industry (Karim and Hossain, 2021) and independence of independent directors (Karim and Mitra, 2019) and board (Karim, Mitra, and Khan, 2020) are highly impaired in this sector. Additionally, compliance in disclosure in financial reporting is also low in this country (Karim and Riya, 2022). Even in Islamic banks, shariah compliance is very weak and shariah audit faces lots of challenges in this emerging economy .…”

Section: Data Collection Techniquesmentioning

confidence: 99%

COVID-19, Supply Chain, and Profitability: A Survey Based on an Emerging Economy

Shetu

Karim

2023

OSCM: An Int. Journal

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COVID-19 has stunned the whole economy and has been unveiled as a colossal threat to global supply chain management. This paper has tried to assess the implications of COVID-19 on different areas of the supply chain and the profitability of different industries in Bangladesh. The study is based on a questionnaire survey of three major industries of Bangladesh: textile, pharmaceuticals, and banking sectors conducted from December 2021 to February 2022. Descriptive statistics and t-tests for mean differences were used to analyze the data and they are displayed across tables and graphs. It is found that supply chain aspects like raw material, labor, manufacturing facility, import/export, product/service, revenue, and profit are significantly impinged by the pandemic. Furthermore, the supply chain of the manufacturing sector is more affected than that of the service sector, and statistically, significant differences are evidenced between manufacturing industries. The findings and recommendations of this study will have policy implications for regulators, companies, suppliers, investors, and customers. This is a pioneer study to investigate the implications of the pandemic on the supply chain fields.

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“…Several variables have been brought into accounting studies to explain cross-sectional variation in compliance with accounting standards. The literature, for example, suggests that foreign listing and internationality influence IFRS compliance by influencing the magnitude of competing for resources (Karim and Ahmed, 2005; Samaha and Stapleton, 2009).…”

Section: Literature Reviewmentioning

confidence: 99%

Comparing the value-relevance of AAOIFI versus IFRS accounting numbers in the Takaful industry

Mejri

Othman

Abdou

et al. 2022

JIABR

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Purpose This study aims to compare the value relevance of accounting numbers prepared under the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) standards with those produced under the International Financial Reporting Standards (IFRS) for Takaful companies (TC). Design/methodology/approach The authors assess the value relevance of accounting numbers using the Easton and Harris (1991) and Ohlson (1995) return and price models. They also use 54 insurance companies from 10 developing countries in Asia and the Middle East from 2006 to 2015. Findings The analysis shows that book value is significantly related to stock price under AAOIFI and IFRS. It also shows that TC adopting AAOIFI accounting standards have a more significant effect on stock price. This suggests that AAOIFI standards are more value relevant than IFRS. Practical implications TC and their stakeholders can use the findings to determine which accounting standards (IFRS or AAOIFI) produce the more relevant accounting information. This study is useful for investors that consider Islamic ethical practices to make their investment decisions for the standards-setting bodies that focus on establishing accounting standards for the Takaful industry. Originality/value The authors investigate a new aspect of the topic of value relevance. To the best of the authors’ knowledge, they believe this is the first paper examining the value relevance of TC’ accounting information prepared under AAOIFI and IFRS.

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Compliance of disclosure requirements of IFRS 15: an empirical evidence from developing economy

Cited by 10 publications

References 22 publications

COVID-19-related accounting disclosures in the financial statements: evidence from an emerging economy

COVID-19-related accounting disclosures in the financial statements: evidence from an emerging economy

COVID-19, Supply Chain, and Profitability: A Survey Based on an Emerging Economy

Comparing the value-relevance of AAOIFI versus IFRS accounting numbers in the Takaful industry

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