The Impact of aAdopting International Financial Reporting Standards on the Quality of Accounting Disclosure

Abstract

This research aims to identify International Financial Reporting Standards (IFRS), their advantages, objectives, and disadvantages, and to understand the concept of accounting disclosure, its objectives, and its importance. It also examines whether there is a relationship between adopting IFRS and the quality of accounting disclosure. The research concludes that IFRS contributes to a revolution in the world of accounting, and that the transition to IFRS is a significant undertaking and a major challenge for any economy, as its revolutionary impact requires a high degree of decisiveness and commitment, taking into account all relevant aspects: political, social, legal, and, above all, economic. Furthermore, adopting IFRS enhances the competitiveness of capital markets by establishing a single, harmonized, investor-oriented, and internationally recognized set of accounting standards. These standards should ensure high-quality, transparent, and comparable information in financial statements. The researcher recommends supporting the adoption of International Financial Reporting Standards (IFRS) as they are beneficial to investors and other users of financial statements by reducing the costs of comparing investments between international companies and improving the quality of information and accounting disclosure