Factors influencing the adoption of International Financial Reporting Standards (IFRS) : evidence from Iraq

The purpose of this study is to examine the adoption level of the international financial reporting standards (IFRSs) in Iraqi companies. Data in the form of descriptive financial results taken in the year 2015 of 32 companies listed on Iraqi stock exchange were used in this study. It is found that the level of IFRS adoption in Iraq is less than 50%. Regression result indicates a positive and significant relationship between IFRS with the firm size and net profit and board size. However, the effect of foreign ownership on the adoption of IFRS in the Republic of Iraq is discovered to be insignificant.