The Compliance with International Financial Reporting Standards (IFRS) in the GCC Member States: Does Corporate Governance Matter?

Abdel Qader, Muath Bassam Khaled ORCID: 0000-0003-0698-1367 (2020) The Compliance with International Financial Reporting Standards (IFRS) in the GCC Member States: Does Corporate Governance Matter? PhD thesis, University of Gloucestershire. doi:10.46289/AD17UQ61

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This research has investigated the impact of a number of firm characteristics and corporate governance mechanisms on the level of compliance with IFRS disclosure requirements within the Gulf Cooperation Council (GCC) member states. This research employs a cross-sectional analysis of the non-financial listed companies in GCC countries for the fiscal year end of 2016. The population of the current research includes 450 non-financial listed companies, and the final sample includes 314 companies. The compliance level with IFRS was measured using a self-built disclosure index consisting of 379 mandatory disclosure items of IFRS. The partial compliance method was implemented in calculating the compliance score of the targeted companies. Using the t-test, this study has found that the compliance level with IFRS is significantly different across GCC countries. Univariate and multivariate analyses were used to test the proposed research hypotheses. Three corporate governance mechanisms were found to have significant effects on the level of compliance with IFRS, namely: board independence, concentrated ownership, and the external auditor quality. Furthermore, the results are not indicative of any distinctive contributions of board size, CEO duality, institutional ownership, audit committee size, and the number of audit committee meetings held during the year on the level of compliance with IFRS. Regarding firm characteristics, only leverage was found to have a significant impact on the level of compliance with IFRS, and the results concluded that industry type, firm size, profitability, and liquidity are not significantly associated with IFRS compliance. Hence, the current results may reflect that the enforcement mechanisms applied in GCC countries to track companies’ implementation of IFRS and corporate governance best practices need to be revised in order to improve the level of compliance with IFRS and to improve the influential effect of corporate governance on companies’ disclosure practices.

Item Type: Thesis (PhD)
Thesis Advisors:
Thesis AdvisorEmailURL
Uncontrolled Keywords: Corporate Governance; Firm Characteristics; Compliance; International Financial Reporting Standards (IFRS); Gulf Cooperation Council (GCC)
Subjects: H Social Sciences > HG Finance > HG1501 Banking > HG1706 Accounting. Bookkeeping
H Social Sciences > HG Finance > HG4001 Finance management. Business finance
Divisions: Schools and Research Institutes > School of Business, Computing and Social Sciences
Depositing User: Susan Turner
Date Deposited: 11 Jul 2022 10:35
Last Modified: 31 Jul 2023 09:54

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