IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v8y2024i5p376-383.html
   My bibliography  Save this article

Adoption of International Financial Reporting Standards (IFRS) and Enhancement of Financial Reporting in Oman Higher Education Institutions

Author

Listed:
  • Rayan Zahran Al-Naabi

    (Oman College of Management and Technology)

  • Siham Mohammed Al-Rawahi

    (Oman College of Management and Technology)

  • Shamia Sulaiman Al-Balushi

    (Oman College of Management and Technology)

  • Mohammed Babiker Mohammed Ahmed

    (Oman College of Management and Technology)

Abstract

The demand for globally harmonized accounting standards has increased as a result of the globalization of capital markets. The International Accounting Standards Board (IASB), which established IFRS, is thought by regulators to produce harmonized financial reporting. Although several empirical studies have looked at the effects of IFRS adoption, their breadth has been constrained. Therefore, the research explored the adoption of international standards for financial reporting in Omani higher education institutions. Through secondary data, we concluded that there are no colleges or universities listed on the Muscat Stock Exchange except for one, which is Majan University College, adopting and implementing of International Financial Reporting Standards among Omani Higher Education Institutions (HEI’s) will enhance its financial reporting and lead to register these institutions to financial market such Muscat Securities Market (MSM).

Suggested Citation

  • Rayan Zahran Al-Naabi & Siham Mohammed Al-Rawahi & Shamia Sulaiman Al-Balushi & Mohammed Babiker Mohammed Ahmed, 2024. "Adoption of International Financial Reporting Standards (IFRS) and Enhancement of Financial Reporting in Oman Higher Education Institutions," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(5), pages 376-383, May.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:5:p:376-383
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-8-issue-5/376-383.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/adoption-of-international-financial-reporting-standards-ifrs-and-enhancement-of-financial-reporting-in-oman-higher-education-institutions/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Karthik Ramanna & Ewa Sletten, 2009. "Why do countries adopt International Financial Reporting Standards?," Harvard Business School Working Papers 09-102, Harvard Business School, revised Mar 2009.
    2. Devrimi Kaya & Maximilian Koch, 2015. "Countries' adoption of the International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) - early empirical evidence," Accounting and Business Research, Taylor & Francis Journals, vol. 45(1), pages 93-120, January.
    3. Mohammad Nurunnabi, 2017. "Auditors’ perceptions of the implementation of International Financial Reporting Standards (IFRS) in a developing country," Journal of Accounting in Emerging Economies, Emerald Group Publishing Limited, vol. 7(1), pages 108-133, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Akisik, Orhan & Gal, Graham & Mangaliso, Mzamo P., 2020. "IFRS, FDI, economic growth and human development: The experience of Anglophone and Francophone African countries," Emerging Markets Review, Elsevier, vol. 45(C).
    2. Bonito, Ana & Pais, Cláudio, 2018. "The macroeconomic determinants of the adoption of IFRS for SMEs," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 21(2), pages 116-127.
    3. Akisik, Orhan, 2020. "The impact of financial development, IFRS, and rule of LAW on foreign investments: A cross-country analysis," International Review of Economics & Finance, Elsevier, vol. 69(C), pages 815-838.
    4. Akisik, Orhan & Gal, Graham, 2023. "IFRS, financial development and income inequality: An empirical study using mediation analysis," Economic Systems, Elsevier, vol. 47(2).
    5. Rahman, Asheq R., 2016. "Discussion on “IFRS Adoption, Extent of Disclosure, and Perceived Corruption: A Cross-country Study”," The International Journal of Accounting, Elsevier, vol. 51(3), pages 379-381.
    6. Petaibanlue, Jirada & Walker, Martin & Lee, Edward, 2015. "When did analyst forecast accuracy benefit from increased cross-border comparability following IFRS adoption in the EU?," International Review of Financial Analysis, Elsevier, vol. 42(C), pages 278-291.
    7. Alon, Anna & Dwyer, Peggy D., 2014. "Early Adoption of IFRS as a Strategic Response to Transnational and Local Influences," The International Journal of Accounting, Elsevier, vol. 49(3), pages 348-370.
    8. Costanza Fabio, 2018. "Voluntary application of IFRS by unlisted companies: evidence from the Italian context," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 15(2), pages 73-86, May.
    9. Glavan Roxana Florina, 2019. "Consequences And Motivations Of Adopting Ifrs: Perceptions Regarding Institutional Factors," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 155-161, October.
    10. Forst, Arno, 2014. "IFRS implementation in the European Union and the survival of accounting families," Advances in accounting, Elsevier, vol. 30(1), pages 187-195.
    11. Taisia Nistorenco, 2019. "Compliance with Disclosure Requirements under IFRS 3 of Companies Trading at Prague Stock Exchange," European Financial and Accounting Journal, Prague University of Economics and Business, vol. 2019(2), pages 5-26.
    12. Kothari, S.P. & Ramanna, Karthik & Skinner, Douglas J., 2010. "Implications for GAAP from an analysis of positive research in accounting," Journal of Accounting and Economics, Elsevier, vol. 50(2-3), pages 246-286, December.
    13. El-Helaly, Moataz & Ntim, Collins G. & Al-Gazzar, Manar, 2020. "Diffusion theory, national corruption and IFRS adoption around the world," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 38(C).
    14. David Procházka, 2015. "Is a Full International Accounting Convergence Desirable? [Je žádoucí úplná konvergence účetního výkaznictví?]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2015(3), pages 7-23.
    15. Atul Bansal, 2011. "Impact of IFRS on Indian Infrastructure and Real Estate Industry," Indian Journal of Commerce and Management Studies, Educational Research Multimedia & Publications,India, vol. 2(1), pages 168-176, January.
    16. Vincent Tawiah & Ernest Gyapong, 2023. "International financial reporting standards, domestic debt finance and institutional quality: Evidence from developing countries," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 2915-2936, July.
    17. Habib, A. & Ranasinghe, D. & Huang, H.J., 2018. "A literature survey of financial reporting in private firms," Research in Accounting Regulation, Elsevier, vol. 30(1), pages 31-37.
    18. Dima, Bogdan & Dima(Cristea), Stefana Maria & Moldovan, Nicoleta & Pirtea, Marilen Gabriel, 2010. "National legislative systems and foreign standards and regulations: The case of International Financial Reporting Standards adoption," MPRA Paper 27172, University Library of Munich, Germany.
    19. Jean Damascene Mvunabandi & Charmaine Lathleiff & Paul-Francois Muzindutsi, 2022. "Financial Accounting as a Tool to Enhance Non-Government Organisations Performance: A Case Study of a Large NGO in Durban, South Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 12(3), pages 10-17, May.
    20. Gordon, Elizabeth A. & Gotti, Giorgio & Ho, Joanna H. & Mora, Araceli & Morris, Richard D., 2019. "Commentary: Where is International Accounting Research Going? Issues Needing Further Investigation," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 37(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:8:y:2024:i:5:p:376-383. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.