An investigation of the level of compliance with international accounting standards (IAS 1) by listed firms in Bahrain Bourse

Fatema Ebrahim Alrawahi · Adel Mohammed Yaslam Sarea

21 citations0/0 files storedInternational Journal of Islamic and Middle Eastern Finance and Management

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Auditing, Earnings Management, Governance Accounting Theory and Financial Reporting Financial Reporting and XBRL

Abstract

Purpose This study aims to investigate the association between seven firm-specific characteristics and the level of mandatory compliance with International Accounting Standards (IAS) 1 by firms listed on Bahrain Bourse. Design/methodology/approach A disclosure index is used to measure the extent of compliance with IAS 1. Each of the 36 sampled firms’ annual reports were examined against the index for the financial year ending December 31, 2013. Findings The results reveal an overall compliance of 83 per cent. Regression results report that only audit firm size, profitability and industry type have a positive and significant association with IAS 1 disclosure requirements. Practical implications This study should be particularly relevant to regulatory bodies in Bahrain for strategizing and encouraging compliance with IAS 1 by listed firms. Originality/value Additionally, the study contributes to financial reporting literature relating to the Gulf Cooperation Council countries, mainly Bahrain. Bahrain is a financial hub, and it is interesting to examine how it presents its financial statements to investors and the degree of its compliance with International Financial Reporting Standards since its adoption in 2007.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature 2001Information Asymmetry, Corporate Disclosure and the Capital Markets: A Review of the Empirical Disclosure Literature 1994The Relationship Between the Comprehensiveness of Corporate Annual Reports and Firm Characteristics in Spain 2006The association between firm‐specific characteristics and disclosure 1998The impact of corporate attribites on the extent of mandatory disclosure and reporting by listed companies in Zimbabwe 2003Compliance with the Disclosure Requirements of Germany's New Market: IAS Versus US GAAP 2008An investigation of compliance with international accounting standards by listed companies in the Gulf Co-Operation Council member states

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