The College of Administration and Economics at the University of Baghdad discussed a master’s thesis in field of Accounting by the student (Tabarak Ayad Jasim ) and tagged with (The effect of adopting international financial reporting standards and internal governance mechanisms on the quality of financial reports) , Under supervision of (prof.Dr.Mohammed Abdullah Ibrahim)
The research aims to define the theoretical framework of international financial reporting standards and their importance, with an indication of the most important benefits and obstacles when adopting them, as well as the theoretical framework of corporate governance, its principles and mechanisms, and then measuring the impact of each of the international financial reporting standards and internal governance mechanisms on the quality of financial reports. For the purpose of achieving the goal of the research, banks were chosen commercial banks listed in the Iraq Stock ExchangTo achievee as a research community with identifying (12) commercial banks as a sample for research, and the performance-adjusted optional accrual model (Kothari, et al, 2005) was used to measure the effect of adopting international financial reporting standards on the quality of profits, as well as preparing a list of surveys To indicate the extent to which the research sample banks are committed to applying internal governance mechanisms. The researcher reached a set of conclusions and recommendations, and among the most prominent conclusions reached, the adoption of International Financial Reporting Standards (IFRS) increases the possibility of comparing financial information in addition to increasing the level of transparency and disclosure in financial reports, and this means that the application of standards reduces information asymmetry Thus, it is reflected on the users of that information in making rational economic decisions. In addition, the research showed that the boards of directors of the research sample banks are committed to applying the governance guide issued by the Central Bank of Iraq and the guidelines and laws imposed on them by the local environment, which leads to improving the quality of financial reports for these banks. Among the most important recommendations reached by the research is the need for Iraqi commercial banks to adhere to the effective and proper application of international financial reporting standards to avoid many issues and fundamental errors related to the form and presentation of financial reports, and the requirements for standardizing these elements to reach comparable financial reports, as well as increasing the supervisory capacity of the Board of Directors. And management on the performance of the senior management and its selection of appropriate accounting policies and limit the practices of earnings management that are reflected in the quality of financial reports