The Adequacy of Accounting Mandatory Disclosure under the Global Financial Crisis. A Field Study in Jordan

This research attempts to explore accounting academics and investors’ perception on the adequacy of the quality and quantity of disclosed information by Jordanian public shareholding companies listed on the Amman Stock Exchange (ASE). Jordanian Securities Depositary Center (JSDC) requires the public companies to follow IAS/IFRS to prepare their financial statements and its discloser requirements. To achieve the abovementioned objectives, a questionnaire was developed and distributed to a sample of accounting academics in the Jordanian universities and investors in the (ASE).180 questionnaires were distributed, ultimately 125 valid- questionnaires were received from both groups. This paper used means, standard deviation, ANOVA, and t test to describe the respondents’ perception on this research questions. The results revealed that there is an agreement among respondents regarding the adequacy of quality of disclosure in the financial reporting of Jordanian public shareholding companies under the circumstances of the global financial crisis. Furthermore, the results showed that the investors perceived the quantity of accounting disclosure as inadequate surrounding circumstances of the global financial crisis. On the other hand, accounting academics perceived the quantity of disclosed information as sufficient. This study recommends that there is a need to consider quantities of disclosed information to meet the requirements of investors.