Ifrs implementation in ethiopia to implementing

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IFRS implementation in Ethiopia to Implementing standards in financial reporting and auditing. The Accounting and Auditing Board of Ethiopia(AABE) in collaboration with the Association of Chartered and Certified accountants(ACCA)April 26,2016 at UN conference Center.
4.13. IFRS Adoption?
1 Do you think the statement of accounting 52
35 | P a g e standards your company used partly outdated? 2 Statement of accounting standards used in your company is not sufficiently comprehensive enough to become a basis for preparation of high quality financial statements. 3.1731 1.26369 52 3 Ethiopian government encourage companies to adopt IFRS 4.2308 0.70336 52 4 FRS is better than GAAP 4.2308 1.00226 52 5 In practice IFRS has really improved the reporting practice in your bank compare to the GAAP. 4.0962 1.12476 52 6 IFRS is difficult or cumbersome. 4.4038 0.95506 52 7 The adoption of IFRS has brought about high quality financial statements. 4.1731 1.07960 52 8 The adoption of IFRS has brought about transparent financial statements. 3.9615 1.17091 52 9 The adoption of IFRS has brought about comparable financial statements. 3.8269 1.27911 52 10 IFRS can help the local investors to make better investment decisions compare to the GAAP. 3.6923 0.85264 52 11 The cost of adopting IFRS is too high compare to the benefits that will be enjoyed. 1.5962 1.07118 52 12 IFRS provides better information for regulators than GAAP 3.9038 0.955506 52 13 The adoption of IFRS will result in a positive change or development in human resources. 4.0385 1.02826 52
36 | P a g e 14 The adoption of IFRS will increase transparency and comparability of financial statements 3.9231 0.90415 52 15 There is a greater efficiency and decrease in cost of finance under IFRS than in GAAP 4.1923 0.81742 52 16 Companies that operates or aims to operates in multiple foreign countries will be under pressure to comply with accounting standard under IFRS than in GAA 3.9231 1.21826 52 17 The adoption of IFRS will promote and increase access to overseas market. 4.1923 0.81742 52 Table 4.14: IFRS Adoption For this study the researcher take seventeen International Financial Reporting Standards of adoption also asked for response by the statements with a 5 point Likert scale and indicate the extent they agree with the statements that is: 1 = Strongly disagree, 2 = disagree, 3 = Undecided, 4 = agree 5 = Strongly agree. A mean (M) score of 0-1 means that there respondents strongly disagreed, between 1 to 2 means they disagreed, 2 to 3 means the respondents were neutral or undecided, 3-4 means they agreed, and a mean above 4 means there respondents strongly agreed. Based on the findings on Table 4.12 (M=; SD=1.44729), the respondents could agree the statement of accounting standards your bank used partly outdated even some banks and share com panies stated Ethiopia haven’t standards organization uses GAAP only, (M=3.1731; SD=1.26369), the respondents could agree Statement of accounting standards used in banks and share companies is not sufficiently comprehensive enough to become a basis for preparation of high quality financial statements, (M=4.2308; SD=0.70336), the respondents could agree Ethiopian government encourage companies to adopt IFRS, (M=4.2208; SD=1.00226), the respondents could strongly agree IFRS is better than GAAP, (M=4.0962; SD=1.12476), the

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