The Effect of the Adoption of International Financial Reporting Standards (IFRS) on the Asymmetry of Accounting Information

Abstract

The research aims to clarify the impact of adopting International Financial Reporting Standards (IFRS) on the asymmetry of accounting information. To achieve the research goal, the researchers selected commercial banks listed on the Iraq Stock Exchange as a research community, specifying (12) commercial banks as a sample for the research, and relied on the financial statements. Actually, for a period of (6) years (2013-2018), divided into (3) years before the adoption of IFRS and three years after the adoption of IFRS.A measure of the dispersion of financial analysts' forecasts was used to measure the impact of adopting IFRS on the asymmetry of accounting information. The researchers reached a set of conclusions, the most important of which is that the main reason for most countries in the world moving towards adopting IFRS has resulted  of the developments witnessed in the financial markets have witnessed in the last two decades, economic units searching for sources of financing have turned to capital markets located outside the borders of their country in search of better investment opportunities because of the intensity of savings and investments in global markets   Paper Type: Research Paper