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Firm characteristics and the level of IFRS compliance and disclosure in GCC countries

Author

Listed:
  • Khalil Nimer
  • Muath Abdel Qader
  • Tamer K. Darwish

Abstract

This study aimed to measure the level of adoption of the disclosure requirements of International Financial Reporting Standards (IFRS) for non-financial listed companies in Gulf Cooperation Council (GCC) markets. We employed a self-constructed disclosure index comprising 379 IFRS mandatory disclosure requirements. A cross-sectional analysis was implemented to test the proposed research hypotheses. We found that the level of compliance varies among GCC countries, with companies operating in the UAE having the highest level of compliance. We also found that leverage and the quality of the external auditor had a significant impact on the level of compliance with IFRS by the targeted companies. Further, our findings demonstrated that companies audited by one of the Big Four audit companies have a high level of IFRS adoption. However, the results did not support the firm size, industry type, profitability and liquidity hypothesis. In this work, the theoretical and practical implications of our results are discussed.

Suggested Citation

  • Khalil Nimer & Muath Abdel Qader & Tamer K. Darwish, 2024. "Firm characteristics and the level of IFRS compliance and disclosure in GCC countries," International Journal of Business Governance and Ethics, Inderscience Enterprises Ltd, vol. 18(2), pages 215-240.
    • Handle: RePEc:ids:ijbget:v:18:y:2024:i:2:p:215-240
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