Perceived Challenges of IFRS Acceptance among Iraqi Firms: Do Benefit of IFRS matter

Abstract

This study investigates some challenges confronting IFRS acceptance with the mediating effect of IFRS among Iraqi firms. The data was collected from 397 respondents who are senior accountant, CFO, and other accounting officers from selected firms in the Kurdistan region of Iraq, and partial least square structural equation modeling (PLS-SEM) was used for the data analysis. The findings showed that company size, government policy, operational challenges, cultural factors and IFRS benefit has a significant and direct influence on IFRS acceptance. In addition, IFRS benefit was found to mediate the relationship between government policy, company size, operational challenges and cultural factors and IFRS acceptance. Finally, both theoretical and practical implications were provided in the study for the scholars, preparer and users of financial standard regulations in Kurdistan firms.