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Adoption and compliance with ifrs by listed firms in ghana and the extent of financial statement disclosures

Appiah-Kubi Seth Nana () and Housami Rjoub ()
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Appiah-Kubi Seth Nana: Department of Accounting and Finance, Cyprus International University, Northern Cyprus, Turkey
Housami Rjoub: Department of Accounting and Finance, Cyprus International University, Northern Cyprus, Turkey

Computational Methods in Social Sciences (CMSS), 2017, vol. 5, issue 2, 10-25

Abstract: With the differing development in similarity to enhance basic leadership, the hugeness of IFRS can't be over misrepresented. Is been 10 years since Ghana formally acknowledged International Accounting Standard(IAS)/International Financial Reporting Standard (IFRS), trading Ghana National Accounting Standard for every single recorded organization. Recorded organizations who asserted consistence have consistence hole as yet existing. Past research has upheld that. This examination, explored the degree of consistence with IFRS disclosure necessities of recorded firms on the Ghana Stock Exchange. What's more, the investigation endeavored to recognize factors, for example, firm size, use, profitability related with the level of consistence. The investigation utilized optional information which were procured from recorded firms on the Ghana Stock Exchange yearly reports. The period attempted for the investigation was from 2008 to 2016. These years were picked since less work has been done on consistence for the years under audit for recorded firms on the Ghana Stock Exchange (GSE). The populace for the examination was recorded firms on GSE with test size of twenty-six (26). In light of the example of the twenty-six (26) recorded firms for the 9 years time frame, a normal of 83.7% consistence with IFRS disclosure necessities was made, with firm size measurably connected with the level of consistence. Despite what might be expected, the level of consistence displays a negative huge relationship with use and profitability. As the powers of globalization enable nations to open their ways to remote speculation and business improvement crosswise over outskirts, the requirement for a typical reporting has come to stay and it has along these lines wind up imperative to guarantee full consistence with the utilization of the IFRS. On the off chance that there is strict standard observing by the administrative bodies, for example, (Ghana Stock Exchange, Security and Exchange commission, Bank of Ghana), at that point full consistence can be accomplished. Additionally, Institute of Chatered Accountants Ghana which is in charge of controlling the accounting profession ought to guarantee that normal preparing are sorted out for accounting, inspectors and so forth to make them side by side and refreshed with the consistence of IFRS. This would help accounting approach producers to found procedures to energize consistence with IFRS by the recorded firms.

Keywords: Disclosure; Financial reporting; Accounting; Quality of financial reports' disclosure; Firm-specific characteristics; International Financial Reporting Standards; Mandatory disclosure; Ghana (search for similar items in EconPapers)
Date: 2017
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Computational Methods in Social Sciences (CMSS) is currently edited by Bogdan Oancea

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