Kumar 2014 and rawatetal 2015 conducted a study on

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(Kumar, 2014) and (Rawat.et.al, 2015) conducted a study on International Financial Reporting Standard (IFRS) and finds complexity of IFRS is the significant problem and among others enhance refined performance measures is the benefit of IFRS adoption. (Thappa, 2012) studies on challenges of IFRS adoption in Indian Banking Industry. The result shows that lack of awareness is the major challenges of IFRS adoption.(Tesfu, 2012) studies the Benefits and Challenges of adopting IFRS in Ethiopia and found that need for training, complexity of IFRS and lack of implementation guidance are the major challenges of IFRS adoption, (Mihiret, 2016) investigates the Process, Issues and Implications ofIFRS Adoption in Ethiopia .The study shows that lack of commitment and low capacity among accounting Professional and lack of coordination of all concerned stakeholders are the major challenges. (Hailemichael, 2016) studies Adoption, Challenges and perception of International Financial Reporting Standards (IFRS) on the Quality of Financial Reporting of Financial Institution in Addis Ababa, Ethiopia and finds that there is a strong positive relationship between IFRS adoption and quality of Financial reporting of financial institutions and the study also highlights challenges of IFRS adoption the significant ones are cost of adoption ,IT challenge and lack of implementation agent and guidance , (Teshome, 2017) investigates Challenges and Prospects of International Financial Reporting Standards (IFRS) implementation in Ethiopia .Theinvestigation shows that need for training, lack of readiness to implement within the time frame set by the board, lack of adequate implementation guidance and lack of enforcement capacity aresome of key challenges facing the transition to IFRS.(Alemi,2016) conducts a research on IFRS Adoption Progress in Ethiopia and founds that shortage of qualified professionals and lack of preparedness are the major challenges of IFRS adoption. Most of the studies conclude that Transparency and comparability are the major benefits of IFRS adoption.In spite of studies have been conducted on the adoption of IFRS, challenges and prospects in Ethiopia, as per the knowledge of the researcher previous studies have been conducted prior to the financial institutions mandatorily adopt and face the practical challenges. The actual problems regarding the challenges of absence or difficulty of finding source documents and data to satisfy IFRS requirements as well as resources and infrastructure accessible for the adoption has yet to be studied in the context of Ethiopian Commercial Banks. Therefore, this study makes an attempt to bridge this gap and tries to study the prospects and Challenges of IFRS adoption in Ethiopian Commercial Banks in the eve of a full adoption in 2018.1.3. Objective of the study
1.3.1. General ObjectiveThe main purpose of the study is to examine the challenges and prospects of IFRS adoption in Ethiopian Commercial Banks.

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