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The purpose of this paper is to investigate the levels of compliance of Iraqi listed banks with the International Financial Reporting Standards IFRS. The research also aims to examine the value relevance of the accounting information for the adoption of IFRS and the value relevance for the level of compliance with IFRS for the Iraqi listed banks. We analyze a sample of 20 Iraqi listed banks over the period of 2012-2019. We use the Compliance Index provided by the IFRS Foundation to examine and determine the degree of compliance of Iraqi banks with the IFRS standards for the mandatory adoption period from 2016 to 2019. In order to provide a comprehensive analysis of the research problem, three financial models were used in this research to examine the value relevance (price levels model, price changes model, and return model). Value relevance was examined pre and post the adoption of IFRS, as well as the value relevance was examined for the level of compliance with the IFRS standards. The results of this research indicate that there is a significant difference in the levels of compliance with IFRS standards for Iraqi banks during the mandatory adoption period. This research also provides empirical evidence that the adoption of IFRS standards has a significant positive impact on the value relevance of accounting information for the Iraqi listed banks. However, the results show that there is no effect of compliance levels on the value relevance of accounting information of Iraqi banks. |
