Corporate governance and international financial reporting standards compliance among Ghanaian-listed companies

Musah Mohammed Saeed

International Journal of Managerial and Financial Accounting, 2025, vol. 17, issue 3, 331-348

Abstract: This study examines the impact of corporate governance on IFRS compliance in Ghana using board and audit committee characteristics as well as ownership structures as proxies. These results indicate that increased IFRS compliance, despite agency conflicts, promotes transparency. A compliance index, derived from a checklist based on prior research, was calculated for 26 listed firms over a decade, using data from annual reports. OLS estimation reveals an average IFRS compliance of approximately 97%, which is positively linked to board independence. Conversely, CEO duality and management ownership show a negative and insignificant relationship, whereas government ownership correlates positively and significantly with IFRS compliance. However, audit committee independence and size do not significantly influence compliance decisions in Ghana. This study suggests that policymakers create a framework emphasising board dynamics for improved corporate reporting, providing insights for future capital market regulations, and highlighting corporate governance's crucial role in achieving comprehensive IFRS compliance.

Keywords: corporate governance; CG; IFRS compliance; panel data; Ghana stock exchange; GSE; agency theory. (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:ids:injmfa:v:17:y:2025:i:3:p:331-348

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