Compliance with International Financial Reporting Standards by Listed Companies in Ghana

Atsunyo, Wisdom; Marfo-Yiadom, Edward

doi:10.5539/ijbm.v9n10p87

Cited by 16 publications

(16 citation statements)

References 28 publications

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“…However, a disclosure compliance checklist constructed by a previous researcher, which leads to disclosure index, was used to measure the level of disclosure compliance. Many researchers have used the disclosure index in their studies as referenced (Almujamed, Alanezi & Alfaraih, 2017;Yiadom and Atsunyo, 2014;Budaraj & Sarea 2015;Alrawahi & Sarea 2015;and Demir & Bahadir, 2014). However, the disclosure index has been modified to measure the specific IAS 38 compliance level.…”

Section: Methodsmentioning

confidence: 99%

Testing the Level of Compliance of International Accounting Standard IAS 38: Evidence from Bahrain

Hassan¹,

Sarea²,

Kukreja³

2019

AFR

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This research aims to examine the level of compliance of International Accounting Standard 38 (IAS 38, intangible assets) among the listed companies of Bahrain Bourse. This paper employs the method of equal weighted disclosure index to determine if the listed firms are complying with the disclosure requirements of the IAS 38. The required data for the year 2016 has been obtained from Bloomberg. The research found that firms have a compliance of 35.4%. The regression analysis results showed that there is a correlation between IAS 38 disclosure and the size of audit firms, leverage, profitability and industry type. There is a lack of relationship between IAS 38 disclosure and age & size of the company. This research serves as the basis of a future study on IAS 38 in different countries in emerging markets.In order to assure high performance and implementation of IAS 38, all firms listed in Bahrain Bourse ought to increase the level of compliance.

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Section: Methodsmentioning

confidence: 99%

Testing the Level of Compliance of International Accounting Standard IAS 38: Evidence from Bahrain

Hassan¹,

Sarea²,

Kukreja³

2019

AFR

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“…It also indicated overwhelming compliance of listed firms with the IFRS framework. Yiadom and Atsunyo (2014) examined compliance with IFRS by 31 listed companies in Ghana using their 2010 financial statements. They found an overall mean compliance of 85.8% in Ghana.…”

Section: Adoption Ifrs In Ghanamentioning

confidence: 99%

Assessing Financial Reporting Quality of Listed Companies in Developing Countries: Evidence from Ghana

Mbawuni¹

2019

IJEF

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The adoption of International Financial Reporting Standards (IFRS) in Ghana is expected to improve the quality of financial reporting among companies in Ghana. This paper assesses the extent to which financial reports of companies listed on the Ghana Stock Exchange (GSE) meet financial reporting quality (FRQ) dimensions of IFRS. It was a descriptive study that employed two experienced professional chartered accountants who practice as independent auditors to use FRQ criteria to assess financial reports of 20 purposively selected companies listed on GSE for 2012 and 2013. Given the high inter-rater reliability (r = .96, 95% C.I., p < .0001), the findings indicate that, overall, FRQ of the listed companies meet FRQ standards by 56.48%. Generally, the financial reports were 60.95% faithfully represented, 51.01% relevant, 50.10% understandable, 40.09% comparable and 19.75% timely audited (or 80.25% untimely). Fundamental FRQ characteristics were more prevalent than enhancing FRQ. Poorly rated FRQ areas were in the use of historical cost as measurement basis, no use of graphs and tables to clarify information, no inclusion of comprehensive glossary, ratios and index, no information on adjustment in past accounting figures for future decisions, and no comparison of current and previous accounting periods and with those of other firms. The study concludes that FRQ of the listed companies is moderate but needs considerable improvement. Implications to theory, practitioners, policy makers and industry regulators are discussed. This study fills the dearth of empirical research in FRQ in IFRS-compliance companies in Sub-Saharan Africa in general and Ghana in particular.

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“…The results of this study are in line with previous research conducted by Glaum et al (2013), which stated that company size has no effect on compliance. Demir & Bahadir (2014) also stated that company size has no effect on the level of compliance with IFRS disclosures. Another study by Juhmani (2017) implied that company size has no effect on the level of compliance of company disclosures in Bahrain to IFRS.…”

Section: Resultsmentioning

confidence: 99%

“…Additionally, Demir & Bahadir (2014) introduced volunteer items to classify mandatory disclosures into discrete groups (e.g. financial and non-financial information), combining other company characteristics (e.g.…”

Section: Introductionmentioning

confidence: 99%

Analysis of factors affecting sharia compliance levels in sharia banks in Indonesia

Segarawasesa¹

2021

AJIM

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Purpose: This study aims to analyze the factors that influence the level of sharia compliance in sharia banks in Indonesia. In particular, this study examines the effect of liquidity, firm size, Sharia Supervisory Board Size, and Audit Committee on the level of sharia compliance in sharia banks in Indonesia. Methodology: This study uses quantitative methods with secondary data in the form of sharia bank annual reports 2014-2018. The data analysis uses regression test with the help of SPSS software. Findings: The results of the analysis show that the size of the sharia supervisory board and audit committee has a positive effect on the level of sharia compliance. The findings of this study contribute to the literature on sharia compliance and disclosure in Sharia banking in Indonesia. Practical implications: This research also has implications for sharia banking, especially in Indonesia, as an evaluation material in improving the quality of financial reports. Originality: This study uses the sharia compliance index as a measuring tool for the level of compliance of sharia banks which is rarely used by previous studies.

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Compliance with International Financial Reporting Standards by Listed Companies in Ghana

Cited by 16 publications

References 28 publications

Testing the Level of Compliance of International Accounting Standard IAS 38: Evidence from Bahrain

Testing the Level of Compliance of International Accounting Standard IAS 38: Evidence from Bahrain

Assessing Financial Reporting Quality of Listed Companies in Developing Countries: Evidence from Ghana

Analysis of factors affecting sharia compliance levels in sharia banks in Indonesia

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