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The impact of environmental factors on the adoption of international financial reporting standards (IRFSs) in the Arab world

woensdag, 17 november, 2010 - 16:30
Campus: Brussels Humanities, Sciences & Engineering campus
Faculteit: Social Sciences and Solvay Business School
Muiz Alia

The author studies the relationship between the adoption of International
Financial Reporting Standards (IFRSs) and environmental factors existing in
the Arab world using three approaches. First, the author addresses
environmental factors of the Arab countries as drivers for the adoption of
IFRSs by these countries. Second, he considers these factors as obstacles
for the successful adoption and application of IFRSs using Jordan as a case
study. Third, the author uses environmental factors as a basis to judge the
neutrality of the International Accounting Standards Board (IASB).
The author finds indications that political, legal, professional and
cultural factors and past colonialism have affected the decision of the Arab
countries to adopt IFRSs. In his case study for Jordan, he discovers that
the adoption and application of IFRSs is hampered largely by obstacles from
the business and the educational environment. With respect to the neutrality
of the IASB, the author finds evidence that the environmental factors of
developing countries in general and Arab countries in particular are not
considered adequately by the IASB.

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