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The Impact of Applying the IFRSs in Emerging Economies. Case Study on Iraqi Conventional Banks

Author

Listed:
  • Dhiaa Al Deen ALAZZAWI

    (Bucharest University of Economic Studies, Romania)

  • Ileana NIȘULESCU-ASHRAFZADEH

    (Bucharest University of Economic Studies)

Abstract

This research deals with the study of the impact of applying the IFRS in emerging economies, and while referring to the impact of applying the IFRS in Arab countries, the focus is on Iraqi banks, especially conventional banks. The importance of applying the IFRS in emerging economises is that it enables the banks to continue to provide their services to the public, to face future financial problems, and to keep abreast of internal and external developments. It also identifies constraints in order to use the IFRS data which helps Iraqi banks to make their decisions and financial investment plans. The researchers obtained the data for this study through data analytics, which is based on data collected from the annual financial statements of 10 conventional banks. The conclusions of the study contain a set of results that conventional banks are seeking in regards to profitability without being bound by international standards, and also results that the customers are seeking in order to achieve benefits from the banks that apply the international standards (for example, the increase of the security of their deposits). The study concluded that the adoption of IFRS is necessary for banks, since this will help in attracting foreign investments to Iraqi banks.

Suggested Citation

  • Dhiaa Al Deen ALAZZAWI & Ileana NIȘULESCU-ASHRAFZADEH, 2021. "The Impact of Applying the IFRSs in Emerging Economies. Case Study on Iraqi Conventional Banks," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(8), pages 53-64, August.
    • Handle: RePEc:ahd:journl:v:2:y:2021:i:8:p:53-64
    DOI: 10.37945/cbr.2021.08.07
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    References listed on IDEAS

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    3. Rex Pjesky, 2006. "What Do We Know About Taxes and State Economic Development? A Replication and Extension of Five Key Studies," Journal of Economic Insight, Missouri Valley Economic Association, vol. 32(1), pages 25-40.
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    More about this item

    Keywords

    IFRS; emerging economies; Iraqi system banks; Iraqi conventional banks; value relevance;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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