The Role Of International Accounting Standard No. (IFRS9) In The Effectiveness Of Corporate Governance

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Dr. Layla Naji Majeed AL Fatlawi


The aim of the research is to analyze the framework and scope of the International Financial Reporting Standard for Financial Instruments (IFRS 9) and to identify the importance, procedures and obstacles to the application of the standard in private commercial banks, as well as the statement of the role played by corporate governance mechanisms in economic units, and the impact of the application of classification and measurement (IFRS9)) Reporting Standard International finance in activating the application of corporate governance mechanisms in Iraqi economic units, and for the purpose of achieving the goal of the research and its hypotheses, a questionnaire was designed that consisted of three axes that included research variables, and each axis included (10) paragraphs for each axis distributed to a sample of accountants and auditors working in five commercial banks and included (100) employees, and he reached a set of conclusions, the most important of which was, financial tools are among the topics that occupied the accounting thought because of the difficulty and complexity in measuring and disclosing them. This became clear based on the efforts made by the American Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). ) and Advisory Group (FCAG) The International Accounting Standards Board has embarked on a lengthy project in the formulation, development and simplification of International Accounting Standard (IAS39) And replacing it with the Financial Reporting Standard (IFRS9), and in light of the answers of the sample members, it was found that there is a weakness in the number of those taking courses in international accounting standards, as it reached (30%) of the employees, i.e. a quarter of the number of the sample members, especially since the sample members are from accounting specialties and workers in banks. The results of the factor analysis for the second axis (the importance of a clear understanding of the application of all corporate governance mechanisms in banks) showed a weakness in the understanding of all corporate governance mechanisms among the sample members.

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