The Arab Perceptions on the Influence of Western Developed Practices on Financial Disclosure Practices- Jordan Evidence

Özet: This study aims to investigate the views of different groups involved in enforcing, teaching, and adopting IFRS in Jordan concerning the different factors influencing de facto compliance with IFRS and whether the introduction of the OECD corporate governance principles improved such compliance. This was achieved by carrying out face-to-face interviews. It was also believed that face-to-face interviews would enable the researcher to estimate the degree of awareness among national investors regarding the level of disclosures that must be provided by companies listed on the stock exchanges of their jurisdiction, and the concept of corporate governance. The outcome of the conducted interviews revealed that the major barriers to full compliance with IFRS disclosure requirements in the Amman Stock Exchange (ASE) are: low non-compliance costs, inadequate qualification of accounting practitioners, low demand for more disclosure by investors, management resistance, and the lack of relevance of all the requirements under IFRS to the economic development stage of the scrutinised capital market. The impact of the introduction of corporate governance codes in the scrutinised context on improving de facto compliance with IFRS is not clear. Additionally, the results enhanced the assessment of the applicability of the Western theoretical foundations to the Arab emerging capital markets.