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An investigation of compliance with international accounting standards by listed companies in the Gulf Co-Operation Council member states

Year: 2008

Type: article

Abstract: This study investigates the extent of compliance with international accounting standards (IASs) by companies in the Gulf Co-Operation Council (GCC) member states (Bahrain, Oman, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates). Based on a sample of 137 companies (436 company-years) we find that compliance increased over time, from 68% in 1996 to 82% in 2002. Despite strong economic and cultural ties between the GCC states, there was significant between-country variation in compliance and among companies based on size, leverage, internationality, and industry. The study provides evidence of de jure but not de facto harmonization in the region. Noncompliance reflected some ineffectiveness in the functions of external auditors and enforcement bodies, which may be of interest to countries that have adopted IASs recently.

Source: The International Journal of Accounting

DOI: 10.1016/j.intacc.2008.09.003

Authors: Bader Al-Shammari, Philip Brown, Ann Tarca

Institutions: Public Authority for Applied Education and Training, The University of Western Australia, UNSW Sydney

Language: English

Topic: Auditing, Earnings Management, Governance

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: green

OpenAlex ID: W2222325616

FWCI: 18.45

Cites: 36

Cited by: 303

Related to: 10