The Effectiveness of Financial Reporting Standards Compliance in the Transparency of Financial Statements: A Case Study of Iraqi Airways

Basim Abdullah Kadhim
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Basim Abdullah Kadhim: Al-Furat Al-Awsat Technical University, Iraq

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Abstract: This study investigates the relationship between compliance with financial reporting standards (IFRS/IASs) and the perceived transparency of financial statements, using Iraqi Airways as a case study. The research aims to determine the extent to which Iraqi Airways' adherence to these standards impacts the clarity, reliability, and credibility of its financial reporting, ultimately influencing investor confidence and corporate governance. A quantitative approach was employed, utilizing a structured questionnaire administered to a purposive sample of 172 accountants, auditors, and financial analysts at Iraqi Airways. Out of the distributed questionnaires, all 172 were deemed valid for analysis, resulting in a 100% response rate. Data analysis involved descriptive statistics, correlation analysis, and regression analysis, using a five-point Likert scale to measure respondents' perceptions. The findings revealed a statistically significant positive correlation between compliance with financial reporting standards and the perceived transparency of financial statements (r = 0.725, p < 0.001). This suggests that a greater emphasis on adhering to financial reporting standards within Iraqi Airways can lead to more transparent financial reporting. The study concludes that increased compliance with financial reporting standards is crucial for enhancing the transparency of financial statements, thereby promoting greater investor confidence and improving financial performance for Iraqi Airways. It recommends continuous investment in training programs for finance professionals, strengthening internal control mechanisms, and improving the clarity and comprehensiveness of financial disclosures.

Keywords: corporate governance; Iraqi Airways; compliance; financial statements; transparency; Financial reporting standards (search for similar items in EconPapers)
Date: 2026-08-17
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Published in European Journal of Management, Economics and Business, 2026, 3 (4), pp.196-208. ⟨10.59324/ejmeb.2026.3(4).16⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05718735

DOI: 10.59324/ejmeb.2026.3(4).16

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