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Development of accounting regulation in Jordan

  • Al-Akra, Mahmoud
  • Jahangir Ali, Muhammad
  • Marashdeh, Omar
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    This study examines the development of accounting regulation in Jordan with emphasis on the dominant environmental factors that influence it. In order to have a better understanding of Jordan's present accounting practices, and its future development tendencies, we examine the path of accounting in Jordan since the early days of the nineteenth century, and analyze how Jordan's accounting environment -- political, economic, legal and cultural -- influenced the development of accounting in Jordan. We also examine Jordan's recent move towards full adoption of International Financial Reporting Standards (IFRS) and find that Jordan's colonial past has exerted a strong influence. In addition, we conclude that political and economic factors, through privatization and the resulting accounting reforms, contributed more to the development of accounting practices than other environmental factors. Privatization led to reforming Jordan's disclosure regulation and laying down of the corporate-governance policy framework. Our conclusions could be of interest to other countries, particularly developing countries, who want to improve the quality of their accounting disclosures and practices.

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    File URL: http://www.sciencedirect.com/science/article/B6W4P-4W4JR51-1/2/9c04968bba52726b2c5fe86b6353e80b
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    Article provided by Elsevier in its journal The International Journal of Accounting.

    Volume (Year): 44 (2009)
    Issue (Month): 2 (June)
    Pages: 163-186

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    Handle: RePEc:eee:accoun:v:44:y:2009:i:2:p:163-186
    Contact details of provider: Web page: http://www.elsevier.com/locate/inca/620179

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