The Adoption of International Financial Reporting Standards (IFRS) in Erbil: Opportunities and Barriers

Adoption of International Financial Reporting Standards (IFRS)

Authors

DOI:

https://doi.org/10.63841/iue3261129

Keywords:

Erbil city, Firm Size, Regulatory Pressure, International Financial Reporting Standards, Management Support, Skills gap, Staff Expertise.

Abstract

The adoption of International Financial Reporting Standards (IFRS) facilitates cross-border investments by providing reliable and standardized financial information, thereby increasing investor confidence and reducing information asymmetry. The primary objective of this study is to examine the current state of IFRS adoption among businesses in Erbil, Kurdistan Region of Iraq. To achieve this, 120 questionnaire responses from professionals involved in financial reporting and accounting functions across various organizations were analyzed using regression analysis. The research confirms that organizational, regulatory, and human resource factors collectively drive IFRS adoption. Specifically, strong management support, employee expertise, and regulatory mandates are essential for successful implementation. Firm size shows a moderate correlation and a smaller regression coefficient, suggesting that while resources matter, they are not the sole determinant of IFRS adoption. This finding challenges the common assumption that only large companies can undertake such transitions and highlights both a “know-what” and “know-how” gap, where organizations may be aware of IFRS but lack the technical capacity to implement it. This study contributes to the literature by providing novel empirical evidence that informal institutional drivers, particularly internal leadership commitment and professional capacity serve as the primary engines of accounting convergence in environments with weak formal institutional enforcement.

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Author Biographies

  • Miran Tahseen Hama Rash, Department of Accounting, Erbil Technical Administration Institute, Erbil Polytechnic University, Erbil, 44001, IRAQ

    Miran Tahseen Hama Rash is an assistant lecturer in the Department of Accounting, Faculty of Erbil Technical Administration Institute, Erbil Polytechnic University, Knowledge University, Erbil. He received a B.Sc. degree in accounting and an M.Sc. degree in accounting from Urmia University. His research interests are in auditing, financial accounting, MIS, AIS, and management accounting.
    His academic interests lie in the field of accounting , in which he engages actively in both teaching and research. He is dedicated to promoting academic advancement and participating in scholarly endeavors within his department.

  • Sardar Jalal Braim, Department of Accounting and Finance, Faculty of College of Administration & Economics, Lebanese French University, Erbil, 44001, IRAQ

    Sardar Jalal Braim is a Lecturer in the Department of Accounting and Finance, Faculty of College of Administration & Economics, Lebanese French University, Erbil. he received a B.Sc. degree in Accounting and Finance, and an M.Sc. degree in Accounting from Near East University. His research interests are in Auditing, Financial Accounting, MIS, AIS, and Management Accounting.
    His academic interests lie in the field of Accounting and Management, in which he engages actively in both teaching and research. He is dedicated to promoting academic advancement and participating in scholarly endeavors within his department.

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Published

2026-04-25

Issue

Vol. 3 No. 2 (2026)

Section

Accounting and Finance

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Copyright (c) 2026 Academic Journal of International University of Erbil

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

The Adoption of International Financial Reporting Standards (IFRS) in Erbil: Opportunities and Barriers: Adoption of International Financial Reporting Standards (IFRS). (2026). Academic Journal of International University of Erbil, 3(2), 1129-1139. https://doi.org/10.63841/iue3261129